REQUIREMENTS FOR LEASE AGREEMENT

Purpose:

This Agreement becomes necessary when one plans to surrender his property for use by another party. A Lease Agreement explicitly sets out the manner in which the Tenant is to occupy the premises and Landlord is to manage the premises, leaving no room for assumptions and less likelihood of disagreements.

Requirements:

  • Full name and address of the Landlord and Tenant
  • Copy of title/conveyance and survey
  • Amount of Security deposit (to be held by Landlord until lease expires)
  • Payment Plan (e.g. deposits, monthly payments, annual payment, etc.)
  • Type of Lease (Commercial, Residential, Storage, etc.)
  • Commencement & Expiry Dates
  • Option to Purchase (Purchase Price & Date of Option)
  • How defaults should be dealt with (e.g. grace period, cancellation of agreement, etc.)
  • Special Clauses or Additional Information

Fees:

Preparation of Lease Agreement
US
$ 350.00
General Sales Tax (12.5%)
US
$ 43.75
Total
US
$ 393.75

Any additional time other than incidentals above and change of standard agreement will be charged at US $75.00 per hour plus administrative fee and general sales tax of 12.5%.

Optional Services and Fees:

Title Search for Declared Land
US
$500.00
Title Search for Undeclared Land
US
$700.00
Purchase Agreement
US
$500.00
Purchase Agreement with Owner's Financing
US
$1,000.00
Escrow Agreement
US
$250.00
Escrow Services
US
$500.00 (For properties that cost US $100,000. or less)
Escrow Services
US
$1,000.00 (For properties that cost between US $100,001. and
US $200,000)
Escrow Services
US
$2,000.00 (For properties that cost between US $200,001. And
US $500,000)
Escrow Services ½ % of the value (For properties that cost more than US $500,001.)
Charge on property
US
$250.00
Discharge of Charge
US
$250.00
Mortgage
US
$1,000.00
Cancellation of Mortgage
US
$500.00
Transfer of Title for Declared Land
US
$550.00
Transfer of Title for Undeclared Land
US
$750.00
Transfer of Title with Covenants
US
$1,050.00
Strata Title for Condominiums
US
$1,000.00 per unit
First Registration for declared land
US
$350.00 (does not include title search and survey fee)
Payment of property taxes
US
$100.00 per lot per year
Review of contract for recommendations
US
US $500.00 minimum or ½% (whichever is greater)

Plus General Sales Tax of 12.5%, administrative fees and filing fees.

 

Rev. 07/11

 

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