HTML Preview Rental Lease Transfer Letter page number 1.
Room Rental Dwelling Lease
The Montgomery County Room Rental Brochure and general landlord-tenant information is available at:
www.montgomerycountymd.gov/dhca
This Lease Agreement is made between _____________________________________, Tenant
and ________________________________________, Landlord. The Landlord leases to the Tenant(s) a room(s) at
_______________________________, Montgomery County, Maryland. The term of this agreement is _____ month(s),
beginning on the ____ day of __________, _____ and ending on the ______ day of ____________, _____. The rent is
___________________________________ Dollars ($_____________) and should be paid in equal monthly installments, in
advance of the _____ day of each month ("Rent Due Date"). Tenant agrees to pay rent to
_______________________________________ (Landlord/Agent)
at_______________________________________________. Failure to pay rent at the specified time is a default of this
Agreement and the Landlord may use any remedy available under the terms of this Lease and/or applicable law. Each
Tenant is responsible individually and together to Landlord/Agent for full performance under the terms of this Lease
Agreement and for compliance with applicable law.
ADDITIONAL CHARGES
1. Landlord/Agent may require that all rental payments be made by money order, cashier's check
and/or certified check. Tenant also agrees that if he/she fails to pay any installment of rent within ten (10) days of the date
due, Tenant must pay Landlord, in addition to the rent, a late charge of five percent (5%) of the unpaid rent then due. The
ten (10) days is NOT a grace period, and the rent is due and payable on the _____of each month. The tenant must pay the
late charge as additional rent together with the rent then overdue. A service charge (which cannot exceed the maximum
permitted by state law) of Thirty-five Dollars ($35.00) will be automatically charged each time a check is returned unpaid
for any reason by the Tenant's bank.
RECEIPTS
2. Landlord agrees to provide to the Tenant a written receipt for payments of rent if the Tenant
pays with cash or a money order or, upon Tenant’s request for a receipt. This Lease shall serve as a receipt for the
aforementioned security deposit.
SECURITY DEPOSIT
3. In accordance with the Annotated Code of Maryland, Real Property Article, Tenant has
deposited with the Landlord/Agent the sum of ________________________________Dollars
($________________), which sum does not exceed two (2) months' rent. This money will be held as collateral security and
applied on any rent or unpaid utility bill that may remain due and owing at the expiration of this Lease, any extension or
holding over period. The money may also be applied to any damages to the premises in excess of ordinary wear and tear
caused by the Tenant, the Tenant’s family, guests, agents, employees, trades people, or pets, or other damages and expenses
suffered by Landlord as a result of a breach of any covenant or provision of this Lease. Tenant may not use the security
deposit as rent and he must not apply the security deposit as the last month's rent. The security deposit will be deposited and
maintained in an escrow account in a federally insured financial institution, which does business in the State of Maryland,
devoted exclusively to security deposits, within thirty- days (30) after the Landlord receives it. The security deposit may be
held in insured certificates of deposit at branches of a federally insured financial institution within the State of Maryland or
in securities issued by the federal government or the State of Maryland. Within 45 days after the end of the tenancy, the
landlord shall return the security deposit to the tenant together with simple interest which has accrued at the daily U.S.
Treasury yield curve rate for 1 year, as of the first business day of each year, or 1.5%, whichever is greater, less any
damages rightfully withheld. For any year in which the landlord has held the security deposit for less than the full year, the
landlord shall pay an amount of interest calculated by:
1. Multiplying the amount of the deposit by the daily U.S. Treasury yield curve rate for 1 year that was in effect as of
the first business day of that calendar year, or 1.5%, whichever is greater; and
2. Multiplying the result obtained under item 1 of this subparagraph by a fraction, the numerator of which is the
number of months that the deposit was held that year and the denominator of which is 12.
Page 1 of 4 for Room Rentals ONLY 12/2014