Deposits, Rental Payments & Non-Payments, Etc.
Simply J.D. & Co. will collect the rent and handle delivering notices. Evictions are handled by an attorney
of your choice or a reputable attorney of our choice. We will help along the way from beginning to end, including
appearing in court on the owner's behalf. You need never make contact with the tenant. We act as your liaison.
Security Deposits:
Security Deposits help to indemnify owner against damage to the property. They help motivate Tenants to fulfill
the conditions of rental agreements. Deposit will be returned to Tenant less a $50.00 carpet cleaning charge, thirty
(30) days after residence is vacated if:
(a) Lease term has expired or agreement has been terminated by both parties; and
(b) All monies due Management by Tenant have been paid; and
(c) Residence is not damaged and is left in its original condition, normal wear and tear excepted; and
(d) Management is in receipt of copy of paid final bills on all utilities (includes gas, electric, water, garbage).
(e) Deposit will not be returned if Tenant leaves before lease time is completed. Deposit may be applied by Management
to satisfy all or part of Tenant's obligations and such act shall not prevent Management from claiming damages
in excess of the deposit. Tenant may not apply the deposit to any of the rent payment.
If Tenant moves out before contract end date :
(a) Tenant forfeits all security deposits.
(b) Both the last month's rent and the indemnification deposit shall be forfeited as liquidated damages.
(c) Tenant will still owe rent through the last day of occupancy.
If Tenant is entitled to a refund of security deposits, Management shall obtain security deposits for a time period
of up to, but no longer then ninety (90) days from contract ending date as stated in the paragraph under terms.
At which time the security deposits will be released only to Tenant s named within this contract.
Security Deposit Rates:
First Months Rent
= One (1) months rent
Last Months Rent
= One (1) months rent
Security Deposit
= $500.00 for Units of $500.00 or below
= $1,000.00 for Units of $500.01 or above
Pet Deposits
= $500.00 per pet
Waterbed Deposits
= $1,000.00 per Waterbed
Rent Payments:
1. Rent is payable monthly or in advance at the Office of the Management as listed on the rental agreement.
2. Rent is due by the first (1st) day of each month, but no later then the tenth (10th) day of each month.
3. Rent is considered late after the tenth (10th) of each month.
4. Tenant agrees to pay $50.00 for each dishonored check.
5. Any returned check will be considered as unpaid rent.
Late Fees & Service Charges:
Exceptions:
- Tenants agree to put in writing a valid reason for rent payments being late no later then one (1) week prior
to the rent due date of first (1st) day of each month.
First (1st) Offense:
-Late Fee of five (5)% applied by the fifteenth (15th) of each month.
-Plus Service Charge of twenty-five ($25.00) dollars.
Second (2nd) Offense:
-Late Fee of twenty (20)% applied by the fifteenth (15th) of each month.
-Plus Service Charge of twenty-five ($25.00) dollars.
Third (3rd) Offense:
-Thirty (30) day eviction notice.
-forfeit of all security deposits and last months rents.
-Payment of last months rent do prorated out.
-Reimbursement of all legal aid.
-Reimbursement of all repairs done.
-See paragraph under evictions. (Below)
First & Last Months Rent:
1. The last month's rent is not refundable.
2. The last month's rent will apply only to the last month of the lease period.
3. Should this lease be breached by the Tenant, both the last month's rent and the indemnification deposit shall
be forfeited as liquidated damages
4. The Tenant will still owe rent through the last day of occupancy.
Evictions:
If rent has not been paid by the fifteenth (15th) of the month, then Management shall automatically and immediately
have the right to take out a Dispossessory Warrant and have Tenant, his/her family and possessions, evicted from
the premises. *If Tenant does not vacate said premises on schedule and has not returned possession of said premises
over to Management by noon on the stated eviction date, Management may change locks on all entries and take physical
possession of said premises. Tenant's belongings will be held in storage until Tenant can make arrangements to
pick them up. Tenants will reimburse Management for all storage costs before Management turns possessions over
to Tenant. Tenants belongings left over thirty (30) days becomes property of Management. If Management has to evict
a Tenant, both the last month's rent and the indemnification deposit shall be forfeited as liquidated damages.
The Tenant will still owe rent through the last day of occupancy.
Non-Payments:
- After a Tenant's third (3rd) offense as stated above under "Late Fees & Service Charges" &
an Eviction Notice has been served, Management will take legal possession of said properties as permitted by law.
- Management will at first legal date, change locks and take possession of any remaining property.
- Management will seek legal council.
- Management will hold Tenant legally responsible for all costs endured.
