1. Term of Lease This Agreement is for a one year fixed term("Initial Term"). After the Initial Term expires, this Agreement shall automatically convert to a month-to-month tenancy under the same terms and conditions unless terminated by either party with at least 30 days' written notice prior to the intended termination date. 2. Rent RESIDENT agrees to pay monthly rent in the amount of $1,350.00 to OWNER. Rent is due on or before the 1st day of each month or otherwise writing If rent is not received by the 1st day of the month, a late fee of $50 may be charged. 3. Security Deposit RESIDENT shall pay a security deposit of $1350 prior to occupancy. The deposit will be returned, minus any lawful deductions, within 21 days after RESIDENT vacates and returns keys, as required by Wisconsin law. An itemized statement of any deductions will be provided. 4. Utilities and Services Unless otherwise stated here, RESIDENT is responsible for payment of all utilities and services, including but not limited to: Internet Cable OWNER is responsible for: Electricity, up $300. Tenant is responsible for the amount over $300 in one month's time period. 5. Maintenance and Repairs RESIDENT shall keep the premises clean and sanitary, promptly report needed repairs, and be responsible for any damage caused by RESIDENT, household members, or guests. OWNER shall maintain the premises in compliance with Wisconsin's habitability requirements. 6. Use and Occupancy The premises shall be used solely as a private residence by RESIDENT and listed occupants. Visitors: Adult visitors may stay no more than 7 consecutive days and no more than 14 total days in any calendar year without OWNER's written permission. 7. Rules and Restrictions RESIDENT shall comply with all applicable laws and refrain from: - Engaging in illegal activities - Creating excessive noise or disturbance - Keeping pets without OWNER's written consent (if pets allowed, separate agreement may apply) - Smoking inside the premises (unless OWNER permits in writing) - Laundry Machine Use: Laundry machines are for tenants' use only and are shared between four units. RESIDENT agrees not to exceed reasonable usage to allow equal access for all tenants. OWNER may change laundry machines, or convert them to a cashless or paid system, at any time without prior notice. 8. Owner's Right of Entry OWNER may enter the premises with at least 12 hours' notice to RESIDENT for inspections, repairs, or to show the unit to prospective renters, except in emergencies where no notice is required. 9. Termination Upon termination, RESIDENT must vacate, remove all belongings, return keys, and leave the premises in good condition, reasonable wear and tear excepted. 10. Wisconsin Required Disclosures 2. Pre-Existing Damages Check-In Sheet: Within 7 days of occupancy, OWNER shall provide RESIDENT with a check-in sheet to note existing damage. 3. Lead-Based Paint Disclosure: If the building was built before 1978, OWNER shall provide the federally required lead-based paint disclosure form. 4. Floodplain Disclosure: If the rental property is located in a floodplain, OWNER must provide written notice before lease signing. 11. Governing Law This Agreement shall be governed by and construed in accordance with the laws of the State of Wisconsin.
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