Terms of Lease

Rent:

A rent payment of $1000 is due on the first of each month by close of business, with the first payment being due on _______________.

A fine of $75 will apply for everyday rent is overdue.

Rent being late by 10 days OR rent being late at least 7 days for three consecutive months may result in the eviction of the tenant from the premises.

Duration:

This lease and all its provisions are in effect for one full year, starting on ______________ and terminating on ______________.  If tenant chooses to terminate the lease prematurely, the tenant agrees to pay a $2000 breach of contract fee as well as a $120 administrative fee.

If tenant wishes to end the lease at the end of the agreed term, tenant is responsible for providing a 60-day notice to Sunset Peaks Apartment.    If tenant fails to give such advance notice, tenant will be fined $20 for each day less the 60 days tenant fails to give notice.

If no notice is received by Sunset Peaks Apartments by expiration of the initial lease term, tenant is responsible for a rent payment of $1200 each month on the first of each month thereafter until a new lease is signed and in effect.  If at any time the tenant wishes to move off of the premises, they are bound by the same provisions of lease termination as outlined in the previous paragraph.

Sunset Peaks Apartments reserves the rights to terminate the lease at any time for any reason.  In such a situation, if the tenant has not broken the terms of the lease, the tenant will be given at least a 30-day notice of the termination of the lease.  

If the tenant is found to be in violation of any of the terms outlined in this lease, Sunset Peaks Apartment reserves the right to evict the tenant.  In the case of such an eviction, the tenant will be given three days to evacuate the premises.  If tenant has not cleared out of the premises at that time, local authorities may be contacted.

Question:

You are a leasing agent that works for Sunset Peaks Apartment.  There is a tenant whose initial lease ended on May 31.  They did not give notice of their intent to move out and have remained in the apartment since.  They have not signed a new lease.  It is now July 5.  They have stopped by the office to pay their rent.  How much do you need to charge them?

1. $900
2. $1200
3. $1500
4. $2120