UTILITIES Tenant shall be responsible for payment of all utilities associated with the Premises, including but not limited to electricity, gas, water, sewer, trash, cable, and internet, unless otherwise stated in writing. All utilities shall be transferred into Tenant's name prior to occupancy. RENT AND LATE FEES Rent in the amount of $2,000 is due on the 1st day of each month. Tenant shall have a grace period of seven (7) calendar days. If rent is not received by the 8th day of the month, a late fee of $100 shall be assessed. Continued failure to pay rent may result in further action in accordance with New Jersey law. SECURITY DEPOSIT Tenant shall pay a security deposit in the amount of $3,000. Said deposit shall be held in accordance with New Jersey law in an interest-bearing account. Landlord shall provide written notice to Tenant within thirty (30) days of receipt of the security deposit indicating the location and details of the account. The security deposit, less any lawful deductions, shall be returned within thirty (30) days after termination of tenancy and vacating of the Premises, along with an itemized statement of any deductions. RENTER'S INSURANCE REQUIREMENT Tenant shall maintain a renter's insurance policy for the duration of the lease term with a minimum of $300,000. Proof of insurance must be provided prior to occupancy and maintained throughout the lease term. Landlord shall be listed as an "Additional Interested Party" for notification of cancellation or lapse. Failure to maintain active renter's insurance shall constitute a material breach of this Lease. RIGHT OF ENTRY Landlord may enter the Premises upon reasonable notice, typically twenty-four (24) hours, for purposes including inspection, repairs, or showing the property. In the event of an emergency, Landlord may enter the Premises without prior notice. MAINTENANCE AND REPAIRS Tenant shall maintain the Premises in a clean and sanitary condition and shall be responsible for minor maintenance, including but not limited to replacing light bulbs, batteries, and air filters. Tenant shall promptly notify Landlord of any maintenance issues or damage. Failure to report issues that result in further damage may result in Tenant being held responsible for repairs. DAMAGE AND NEGLIGENCE Tenant shall be responsible for any damage to the Premises caused by Tenant, occupants, or guests beyond normal wear and tear. Costs for repair or replacement may be deducted from the security deposit or billed to Tenant. OCCUPANCY The Premises shall be occupied only by the individuals listed on this Lease. No additional occupants may reside in the Premises without prior written consent from Landlord. PET POLICY No pets shall be allowed on the Premises without prior written consent from Landlord. Any approved pets may be subject to additional fees or deposits as permitted by law. Tenant is responsible for any damage caused by pets. SMOKING Smoking is strictly prohibited inside the Premises. Any damage caused by smoking may result in charges for cleaning, repair, or remediation. HOMEOWNERS ASSOCIATION (HOA) RULES Tenant agrees to comply with all rules, regulations, and bylaws of the applicable Homeowners Association (HOA). Any violation of HOA rules by Tenant, occupants, or guests shall constitute a violation of this Lease. Any fines or penalties imposed by the HOA due to Tenant's actions shall be the responsibility of the Tenant. PROPERTY CONDITION AND SAFETY Tenant acknowledges that they have inspected the Premises and accept it in its current condition. Landlord has disclosed any known conditions that may present a safety concern, including but not limited to stairs, steps, flooring transitions, or other structural features. Tenant agrees to use all areas of the Premises with due care and to promptly notify Landlord of any hazardous conditions. Tenant assumes responsibility for the safety of themselves, occupants, and guests while using the Premises. SPECIFIC PROPERTY DISCLOSURE (IF APPLICABLE) Tenant acknowledges the presence of certain features of the Premises, including but not limited to steps and/or stair areas, and agrees to exercise caution when using these areas. MOVE-IN CONDITION A move-in inspection shall be conducted, and the condition of the Premises shall be documented by photos and/or written checklist. Tenant agrees that such documentation accurately reflects the condition of the Premises at the start of tenancy. ALTERATIONS Tenant shall not make any alterations, improvements, or modifications to the Premises without prior written consent from Landlord. LOCKS Tenant shall not change or install additional locks without prior written consent from Landlord. Any approved changes must include providing Landlord with a copy of the key.
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