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Lease - 2024 - 918 Frederick Blvd, Akron, OH 44320.pdf

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DocuSign Envelope ID: 43665EF2-C590-435C-B3A4-B3BF68C13D33 This is a legally binding Contract; if not understood seek advice from an attorney. SINGLE FAMILY RESIDENCE OR CONDOMINIUM LEASE 1. PARTIES: The parties to this Lease are the owner of the Property, Landlord: Lofty Holding 918 Frederick Boulevard LLC; and Tenant(s): 2. PROPERTY: Landlord leases to Tenant the following real property: Address: 918 Frederick Blvd Akron (Summit County) OH 44320-1720 The following additional items of non-real

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DocuSign Envelope ID: 43665EF2-C590-435C-B3A4-B3BF68C13D33

This is a legally binding Contract; if not understood seek advice from an attorney.
SINGLE FAMILY RESIDENCE OR CONDOMINIUM LEASE

1.

PARTIES: The parties to this Lease are the owner of the Property, Landlord: Lofty Holding 918 Frederick
Boulevard LLC; and Tenant(s):

2.

PROPERTY: Landlord leases to Tenant the following real property:
Address: 918 Frederick Blvd Akron (Summit County) OH 44320-1720
The following additional items of non-real-property items are included: N/A.The real property and the non-realproperty are collectively called the “Property.”

3.

TERM:
A.

Primary Term:

The primary term of this Lease begins and ends as follows:

Commencement Date: April 15, 2024 Expiration Date: April 14, 2025
B.

4.

Delay of Occupancy: Tenant must occupy the Property within five days after the Commencement
Date. If Tenant is unable to occupy the Property by the fifth day after the Commencement Date
because of construction on the Property or a prior tenant’s holding over of the Property, Tenant
may terminate this Lease by giving written notice to Landlord before the Property becomes
available to be occupied by Tenant as Tenant’s sole remedy, and Landlord will refund to Tenant the
security deposit and all rent paid. If Tenant does not terminate this Lease, then Landlord will abate
rent on a daily basis for a delay caused by construction or a prior tenant’s holding over. This
paragraph does not apply to any delay in occupancy caused by cleaning, repairs, make-ready
items, or any matters other than construction or holdover by a prior tenant.

AUTOMATIC RENEWAL AND NOTICE OF TERMINATION:
A. This Lease automatically renews on a month-to-month basis unless Landlord or Tenant provides the other
party written notice of termination not less than forty-five (45) days before the Expiration Date.
B. If this Lease automatically renews on a month-to-month basis, it will continue to renew on a month-tomonth basis until either party provides written notice of termination to the other party and the notice of
termination will be effective on the date designated in the notice but not sooner than forty-five (45) days
after the notice is given and, if necessary, rent will be prorated on a daily basis.
C. Oral notice of termination is not sufficient under any circumstances. Time is of the essence for all
obligations of Tenant in this Lease, including providing notice of termination. Strict compliance with dates
by which notice must be provided is required.

V4.2024
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DocuSign Envelope ID: 43665EF2-C590-435C-B3A4-B3BF68C13D33

5.

RENT:
A.
B.

Prorated Rent: On or before May 1, 2024 Tenant will pay Landlord $ 584.00 as prorated rent
from the Commencement Date through the last day of the month in which this Lease begins.
Monthly Rent: Tenant shall pay Landlord monthly rent for each full month during the term of
this Lease. The first full month’s rent shall be due and payable no later than April 15, 2024.
Thereafter, Tenant shall pay monthly rent on or before the first day of each month throughout
the term of this Lease in accordance with the following rental installments:
Month April 15, 2024 to Month April 14, 2025 Monthly Rent due in the amount of

$1095.00
Month
Month

to Month
to Month

Monthly Rent due in the amount of $
Monthly Rent due in the amount of $

Weekends, holidays, and mail delays shall not excuse Tenant’s obligation to timely pay
rent to ensure Landlord receives rent on or before the first day of each month.
C.

Lease Administrative Fee(s): Tenant(s) shall pay administrative fee(s) to Landlord’s broker for
the following:
(1) An initial lease preparation fee in the amount of $250.00 prior to the Commencement Date
of this Lease.
(2) A lease renewal fee in the amount of $50.00 prior to the Commencement Date of the lease
renewal.
(3) A lease processing fee in the amount of $100.00 for all lease modifications.
(4) A monthly fee of $150.00 should this lease renew on a month-to-month basis, not including
any applicable rental rate increase.

D.

Resident Benefits Package (“RBP”) Program and Fee: Tenant agrees to pay a Resident
Benefits Package Fee of $49.95 per month (“RBP Fee”) as more particularity set forth in the
Resident Benefits Package (RBP) Lease Addendum. RBP Fee shall be billed and due from
Tenant at Move-In and on the 1st of each month as part of the monthly payment. This charge
is not prorated.

E.

Method and Place of Payment:
(1) Tenant will remit all amounts due Landlord under this Lease (“Payments”) to Landlord’s
broker, HomeRiver Group.
(2) HomeRiver Group provides an electronic portal (“Portal”) which Tenant must use to remit
all Payments. Access to the Portal will be provided to Tenant prior to execution of this
Lease.
(3) If Tenant is unable to make Payments to the Portal for any reason, Payments must be
made by check, money order or cashier’s check payable to HomeRiver Group and
delivered to the following address: (i) for standard mail PO Box 190420, Boise, ID 83719
(ii) for overnight delivery PO Box 190420, Boise, ID 83719 . Please include the Property
address and Tenant name on payment for proper crediting.
(4) Landlord may later designate, in writing, another person or place to which Tenant must
remit Payments.
(5) Tenant must make all Payments timely and without demand, deduction, or offset.
(6) Time is of the essence for all of Tenant’s obligations in this Lease, including the payment
of rent. Strict compliance with rental due dates is required.
(7) If Tenant fails to make timely Payments or if any Payments are dishonored, Landlord may
require all subsequent Payments in bank-certified funds. This paragraph does not limit
Landlord from seeking other remedies under this Lease for Tenant’s failure to make
timely Payments with good funds.

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