5 Year Lease Agreement Template for United States

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Key Requirements PROMPT example:

5 Year Lease Agreement

"I need a 5 Year Lease Agreement for a commercial office space in downtown Chicago, starting January 1, 2025, with an option to renew for an additional five years and specific provisions for tenant improvements up to $50,000."

Document background
The 5 Year Lease Agreement is a crucial legal document used when parties intend to enter into a long-term rental arrangement for real property in the United States. This agreement is particularly important for commercial tenancies and long-term residential arrangements, providing stability for both parties while ensuring compliance with federal and state regulations. The document typically includes detailed provisions for rent escalation, maintenance responsibilities, insurance requirements, and renewal options. It's designed to protect both parties' interests while maintaining flexibility for evolving business needs over the extended term.
Suggested Sections

1. Parties: Identification of landlord and tenant with full legal names and addresses

2. Background: Context of the lease agreement and property description

3. Definitions: Key terms used throughout the agreement

4. Property Description: Detailed description of the leased premises

5. Term: Duration of lease, start and end dates

6. Rent: Payment amount, schedule, and method

7. Security Deposit: Amount, terms, and conditions for return

8. Maintenance and Repairs: Responsibilities of both parties

9. Insurance Requirements: Required coverage for both parties

10. Default and Remedies: Consequences of breach and available remedies

Optional Sections

1. Utilities: Responsibility for utilities if not included in rent

2. Subletting: Terms for subletting or assignment of the lease

3. Pet Policy: Rules and regulations regarding pets on the premises

4. Parking: Parking rights, restrictions and associated terms

Suggested Schedules

1. Property Inventory: Detailed list of furnishings and their condition

2. Building Rules: Specific rules and regulations for the property

3. Floor Plan: Layout of the leased premises

4. Lead Paint Disclosure: Required disclosure for properties built before 1978

5. Move-in Inspection Report: Documentation of property condition at start of lease

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Clauses
Industries

Fair Housing Act (FHA): Federal law prohibiting discrimination in housing based on race, color, national origin, religion, sex, familial status, and disability

Americans with Disabilities Act (ADA): Federal legislation requiring reasonable accommodations and accessibility considerations in housing

Federal Lead-Based Paint Disclosure: Federal requirement for disclosure of lead-based paint hazards in properties built before 1978

State Landlord-Tenant Laws: State-specific laws governing basic rights, obligations, security deposits, maintenance requirements, notice periods, and eviction procedures

Local Rent Control Laws: Municipal or county-specific regulations governing rent increases and tenant protections

Local Housing Codes: Municipal requirements for residential property standards and maintenance

Zoning Regulations: Local laws governing property use, occupancy, and development restrictions

Building Codes: Local and state requirements for building safety, construction, and maintenance standards

Statute of Frauds: Legal requirement that leases exceeding one year must be in writing to be enforceable

State Disclosure Requirements: State-specific mandatory disclosures about property conditions, hazards, or other material facts

Property Insurance Requirements: State and local requirements for property insurance coverage and liability protection

Environmental Regulations: Federal, state, and local environmental protection requirements affecting property use and maintenance

Utility Regulations: State and local requirements governing utility service, billing, and responsibilities between landlord and tenant

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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