Fillable Printable Basic Rental Agreement

Basic Rental Agreement

Personal Property Rental Agreement

Owner’s name(s): _________________________________________________________

Address:

___________________________________________

Renter’s name(s): _________________________________________________________

Address:

___________________________________________

Note: If there is more than one owner or renter, the use of the singular incorporates

the plural.

1. Property Being Rented

Owner agrees to rent to Renter, and Renter agrees to rent from Owner, the following

property: ____________________________________________________________________________________.

2. Duration of Rental Period

This rental will begin at _____ o’clock a.m./p.m. (circle one) on _____/_____/_____

(MM/DD/YY) and will end at _____ o’clock a.m./p.m. (circle one) on _____/_____/_____

(MM/DD/YY).

3. Rental Amount

The rental amount will be $ ________ per ____________ [specify hour, day, week or month].

4. Payment

Renter has paid $ __________ to Owner to cover the rental period specified in Clause 2.

[ ] Security deposit [optional]. In addition to the rent, Renter has deposited

$ __________ with Owner. This deposit will be applied toward any additional rent and

any amounts owed for damage to or loss of the property, which Owner and Renter

agree has the current value stated in Clause 8. Owner will return to Renter any

unused portion of the deposit.

5. Delivery (check one of the following three (3) options):

[ ] Renter will pick up the property from Owner at ____________________________________

(address or location) on _____/_____/_____ (MM/DD/YY).

[ ] Owner will deliver the property to Renter [ ] at no charge OR [ ] for a fee of

$ _________ at ____________________________________ (address or location) on _____/_____/_____

(MM/DD/YY).

[ ] Other delivery arrangements: _________________________________________________________

________________________________________________________________________________________________.

6. Late Return

If Renter returns the property to Owner after the time and date when the rental

period ends, Renter will pay Owner a rental charge of $ ___________ per day for each

day or partial day beyond the end of the rental period until the property is returned.

Owner may subtract this charge from the security deposit.

7. Condition of Property

Renter acknowledges receiving the property in good condition, except as follows:

_________________________________________________________________________________________________

________________________________________________________________________________________________.

8. Damage or Loss

Renter will return the property to Owner in good condition except as noted in Clause

7. If the property is damaged while in Renter’s possession, Renter will be

responsible for the cost of repair, up to the current value of the property. If the

property is lost while in Renter’s possession, Renter will pay Owner its current

value. Owner and Renter agree that the current value of the property is $ ___________ .

9. Dispute Settlement (choose one of the following three (3) options:

[ ] Litigation. If a dispute arises, either Owner or Renter may take the matter to

court.

[ ] Mediation and Possible Litigation. If a dispute arises, Owner and Renter will

try in good faith to settle it through mediation conducted by [choose one]:

[ ] ____________________________________________ [name of mediator].

[ ] a mediator to be mutually selected.

Note: Owner and Renter will share the costs of the mediator equally. If the

dispute is not resolved within 30 days after it is referred to the mediator, either

Owner or Renter may take the matter to court.

[ ] Mediation and Possible Arbitration. If a dispute arises, Owner and Renter will

try in good faith to settle it through mediation conducted by [choose one]:

[ ] ____________________________________________ [name of mediator].

[ ] a mediator to be mutually selected.

Note: Owner and Renter will share the costs of the mediator equally. If the

dispute is not resolved within 30 days after it is referred to the mediator, it will

be arbitrated by [choose one]:

[ ] ____________________________________________ [name of arbitrator].

[ ] an arbitrator to be mutually selected.

Note: Judgment on the arbitration award may be entered in any court that has

jurisdiction over the matter. Costs of arbitration, including lawyers’ fees, will be

allocated by the arbitrator.

Owner’s signature: __________________________________________________ Date: _______________

Renter’s signature: __________________________________________________ Date: _______________

Note: if there is more than one owner and/or renter, designate a primary

owner/renter to sign the rental agreement.