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Lease Agreement - 2023 - 3850 W 17th St, Cleveland, OH 44109 - 3850 W 17th St, Cleveland, Ohio 44109.pdf

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dotloop signature verification: dtlp.us/47Ap-AIPO-M6Cr Reset Form CLEVELAND Save Copy Print Copy RESIDENTIAL LEASE OR MONTH-TO-MONTH RENTAL AGREEMENT 3860 west 17th Street-unit 1, Cleveland, Oh 44109 PREMISES: acting as Agent on Behalf of Landlord/Owner Northpoint Asset Management PROPERTY MANAGER: Barbara Diluzio TENANT(S): LOFTY HOLDING 3850 W 17TH ST LLC LANDLORD(S): TERM: 12 Months RENTAL AMOUNT $ 08/01/2023 BEGINNING DATE $ 850.00 Due on the 1st of the Month. MONTHLY PET RENT: $ $ 0.00 ENDI

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CLEVELAND

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RESIDENTIAL LEASE OR MONTH-TO-MONTH RENTAL AGREEMENT
3860 west 17th Street-unit 1, Cleveland, Oh 44109

PREMISES:

acting as Agent on Behalf of Landlord/Owner

Northpoint Asset Management

PROPERTY MANAGER:

Barbara Diluzio

TENANT(S):

LOFTY HOLDING 3850 W 17TH ST LLC

LANDLORD(S):
TERM: 12 Months
RENTAL AMOUNT $

08/01/2023

BEGINNING DATE

$ 850.00

Due on the 1st of the Month.

MONTHLY PET RENT: $ $ 0.00

ENDING DATE

SECURITY DEPOSIT: $

PETS: ✔ No

Yes

LATE FEE: After

5th of Month: $ 75 plus $ 10 _ per day. SMOKING:

PET FEE: $

0.00
✔ No

07/31/2024
850.00

PET DEPOSIT: $
Yes

0.00

✔ Outside Only

********************************************************************************************************
Landlord and Tenant(s), agree as follows:
1. PROPERTY: Landlord rents to Tenant and Tenant rents from Landlord the real property and improvements described
3860 west 17th Street-unit 1, Cleveland, Oh 44109

(Premises). The following personal property is included:

Washer
Dryer
Range/Oven
Dishwasher
Other Tenant supplies their own appliances
2.

Refrigerator

Microwave

RENT: Tenant agrees to pay rent and non-rent charges monthly, on the 1st day of each calendar month.
Rent:
Pet Rent:
Utility Charge
0.00% City Sales Tax:
Monthly Admin Fee:
Insurance Waiver Fee

$ 850.00 Send Payment To:
$ 0.00
Northpoint Asset Management
$ 0.00
6100 Oak Tree Blvd, Suite 200
$ 0.00
1
Independence, OH 44131
$ 0.00
$ 20.00 2

Total Monthly Charges:

$ 870.00

ABSOLUTELY NO CASH ACCEPTED! The Rent and all other accrued charges shall be due and payable no later than 5 p.m.
on the 1st day of each month (regardless of weekends or holidays). Rent shall be payable in advance without deductions or offsets.
Landlord is not required to accept a partial payment of Rent or other charges. If the sales tax rates change during the term of this
Agreement, Landlord may adjust the amount of Rent due to equal the difference caused by the tax change immediately upon notice
to Tenant or at the effective date of the city tax rate increase, whichever comes first.
3.

TERM: The term begins on

08/01/2023 , and PRORATED RENT FOR

SHALL BE $

.

This Agreement constitutes a:
A. Month-to-month tenancy, which may be terminated by either party, by giving written notice to the other at least 30
days prior to the intended termination date; or,
07/31/2024
, with a total rent of $
10,200.00
, monthly installments as above.
✔ B. Lease ending
Following the Lease Ending Date, this Agreement shall automatically renew, if not renewed prior to expiration, on a month-tomonth basis and will incur a 10% premium (increase) of the current rental rate, but with all other terms and conditions set forth
herein remaining the same, unless either party provides written notice to the other of their intention to terminate the Agreement.
Notice to terminate the Agreement at the end of the original term shall be given on or prior to the last rental due date of the original
term. Notice to terminate, if on a month-to-month basis, shall be given thirty days prior to the periodic rental date specified in the
notice. At lease termination Tenant shall return all keys/garage door/entry gate openers, remove all personal items, and vacate the
Premises.
1 Monthly Admin Fee is auto-populated from values in the Northpoint Policies, Rules and Regulations Addendum
2 Insurance Waiver Fee is auto-populated from values in the Northpoint Insurance Requirements for Tenants Addendum

1

v.20180718

dotloop signature verification: dtlp.us/47Ap-AIPO-M6Cr

Subject Property: 3860 west 17th Street-unit 1, Cleveland, Oh 44109 Date:

08/01/2023

IF THE TENANT WILLFULLY FAILS TO VACATE THE PREMISES AS PROVIDED FOR IN THIS
AGREEMENT, THE LANDLORD SHALL BE ENTITLED TO RECOVER AN AMOUNT EQUAL TO BUT
NOT MORE THAN TWO MONTHS' PERIODIC RENT OR TWICE THE ACTUAL DAMAGES
SUSTAINED BY THE LANDLORD, WHICHEVER IS GREATER, AS PROVIDED FOR BY STATE LAW.
4.

LATE CHARGES, NOTICE FEES, & NSF FEES: Tenant acknowledges that late payment of rent may cause Landlord to
incur costs and expenses, the exact amount of which are extremely difficult and impractical to determine. These costs may
include, but are not limited to, processing and accounting expenses, late charges that may be imposed on Landlord by terms of
any loan secured by the Premises, costs for additional attempts to collect rent, and preparation of notices. Therefore, if any
installment of rent due from Tenant is not received by Landlord within 5th calendar days after date due, TENANT SHALL
PAY TO LANDLORD AND/OR MANAGER AN ADDITIONAL INITIAL SUM OF $ 75 FOLLOWED BY A
DAILY CHARGE OF $ 10 PER DAY AS A LATE CHARGE UNTIL THE ORIGINAL DELIQUENT RENT
CHARGES ARE PAID IN FULL. Late charges will not exceed the maximum allowed by state statue in the states where
maximum late charge limits exist. Future payments received from the tenant will apply first to past unpaid late fees before being
applied to rent, except in North Carolina. Landlord and Tenant agree that this late charge represents a fair and reasonable
estimate of the costs that Landlord may incur by reason of Tenant’s late payments. Any late charge due shall be paid with the
current installment of rent. Landlord’s acceptance of any late charge shall not constitute a waiver as to any default of Tenant, or
prevent Landlord from exercising any other rights and remedies under this Agreement, and as provided by law. There will be a
$ 50 CHARGE FOR 3 DAY NOTICES that are generated and delivered by email, US Mail, or courier. A
$ 75 CHARGE will be assessed if notices are hand-delivered or posted to your property. A $ 40 CHARGE WILL BE
ASSESSED FOR RETURNED CHECKS OR PAYMENTS OF ANY KIND INCLUDING ELECTRONIC PAYMENTS.

5.

PAYMENT METHOD: Tenant MUST include the property address and unit number (if applicable) on their Method of
Payment. ALL INITIAL FUNDS (DEPOSIT, FIRST MONTH’S RENT) ARE TO BE PAID EITHER BY MONEY ORDER OR
CASHIER’S CHECK. NO PERSONAL CHECKS OR CASH WILL BE ACCEPTED. ALL FURTHER REGULAR
PAYMENTS MAY BE PAID ONLINE THROUGH THE ONLINE TENANT PORTAL OR AT PARTICIPATING
RENTMONEYTM PAYMENT CENTERS WITH AN ACCOMPANYING PAYMENT VOUCHER. CONVENIENCE FEES
MAY APPLY. MANAGER STRONGLY DISCOURAGES AND IS NOT REQUIRED TO ACCEPT PAYMENT MADE
WITH PAPER CHECKS OF ANY KIND. IF PAPER CHECKS ARE PRESENTED, A PROCESSING FEE OF
$ 10
OR $ 5 PER CHECK, WHICHEVER IS GREATER, WILL BE CHARGED SHOULD ANY PAYMENT FROM
TENANT, PAPER OR ELECTRONIC, NOT CLEAR FOR ANY REASON, ONLY CASHIER’S CHECK OR MONEY
ORDER WILL BE ACCEPTED FOR THE REMAINDER OF THE TENANCY, IN WHICH CASE ANY PERSONAL
CHECKS RECEIVED WILL BE RETURNED TO YOU, & LATE FEES CHARGED IF CERTIFIED FUNDS ARE NOT
RECEIVED BY THE 5TH OF THE MONTH. NO POST-DATED PAYMENTS. ABSOLUTELY NO CASH ACCEPTED.

6.

SECURITY DEPOSIT: $ 850.00
shall be given by Tenant as a security deposit. Landlord may use all or any
portion of the security deposit reasonably necessary to: (a) cure Tenant’s default in payment of rent, late charges or other sums
due; (b) repair damages caused by Tenant, or by a guest or a licensee of Tenant; (c) clean the Premises, if necessary, upon
termination of tenancy; and (d) replace or return personal property or appurtenances, excluding ordinary wear and tear. If the
tenant chooses to abandon or terminate the lease before the lease ending date set forth in Section 2.B., The Tenant understands
that the Owner has the right to retain the full security deposit. The Owner is not obligated to release the Tenant from the lease
pre-maturely, except where required by law. If Security Deposit is used during the tenancy, Tenant agrees to reinstate the full
security deposit within five (5) days after written notice delivered to Tenant in person or by mail. No later than
30 calendar
days after Tenant vacates the Premise (or as guided by state law), Landlord shall furnish to Tenant an
itemized written statement of the basis for, and the amount of, any security received and the disposition of the security, and shall
return any remaining portion of the security to Tenant. The return of the security deposit at the end of the tenancy, if otherwise
due, will be handled directly between Landlord and Tenant and will not involve any Manager who releases the security deposit to
Landlord. Landlord and Tenant each indemnify and release any Manager from any liability relating to return of the security
deposit. SECURITY DEPOSIT SHALL NOT BE USED BY TENANT FOR LAST MONTH’S RENT. If security deposit
is held by Owner, Tenant agrees not to hold Manager responsible for its return. If security deposit is held in Manager’s trust
account, and Manager’s authority is terminated before expiration of this Agreement, and security deposits are released to
someone other than Tenant, then Manager shall notify Tenant in writing where and to whom security deposit has been released.
Once Tenant has been provided such notice, Tenant agrees not to hold Manager responsible for security deposit.

7.

COLLECTIONS: Should this tenancy end with any unpaid balance due from the Tenant, Broker may engage third-party
collection services to recoup the unpaid or delinquent balance due. In such cases, Tenant agrees herein and without reservation
to a 40% collections and recovery fee on the balance due to cover the cost of collection services. This 40% collection fee will be
added to the unpaid balance on the tenant ledger and become due once collection services are engaged.
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