Empty space

Storage Rental 
Agreement

PREPARED FOR
[Lessee Name]

PREPARED BY
[Lessor Name]

Storage Rental Agreement

This Storage Rental Agreement (hereinafter referred to as the "Agreement") is entered into and shall be effective as on [Effective Date] (hereinafter referred to as the "Effective Date"),

By and Between 

[Lessor Name] (hereinafter referred to as the "Lessor"), having its principal place of business at [Lessor Company Address], and; 

[Lessee Name] (hereinafter referred to as the "Lessee"), having its principal place of business at [Lessee Company Address]. 

The Lessor and the Lessee are collectively referred to as the "Parties" and individually as the "Party."

WHEREAS Lessor wishes to offer storage space for rent;

AND WHEREAS Lessee wishes to rent such storage space for warehousing purposes and requirements from Lessor.

NOW, THEREFORE, in consideration of the mutual covenants and commitments contained herein, as well as other goods and valuable consideration (the receipt and sufficiency of which are to be acknowledged), the Parties do hereby agree as follows:

TERMS AND CONDITIONS.

1. RENTED SPACE.

The Lessor hereby agrees to provide, and the Lessee agrees to rent a storage space located at the following address: [Storage Address] (hereinafter referred to as the "Unit").

The storage space will be of the following description and size: [Storage Space Description]. 

2. TERM.

The term of the lease commences on [Lease Commencement Date] (hereinafter referred to as the "Commencement Date") and continues on a month-to-month basis until terminated by either of the Parties.

3. RENT.

The Lessee shall pay a monthly rent of [Monthly Rent] (hereinafter referred to as the "Rent") to the Lessor from the Commencement Date and throughout the term of this Agreement on or before [Rent due date] of every month.

If the Lessee fails to pay the amount within the set period after providing the notice by the Lessor, the Lessee shall be considered in breach of this Agreement.

4. SECURITY DEPOSIT.

The Lessee shall pay the Lessor a security deposit of [Security Deposit] due on [Security Deposit Due Date]. 

If the rented property is in good condition (except ordinary wear and tear), the total of the security deposit shall be refunded to the Lessee within [Security deposit to be returned in days] day(s) after the Unit has been completely vacated.

5. POSSESSION OF THE UNIT.

The Lessee shall occupy the Unit on the Commencement Date and shall yield the possession to the Lessor upon cancellation of this Agreement.

6. USE OF THE SPACE.

(a) Lessee shall utilize the space for storage purposes only and shall not store any live animals or hazardous materials inside the Unit.

(b) Lessee acknowledges that the unit is not to be used as a dwelling, place of business, or for any purposes other than the storage of personal property.

(c) Illegal activities and items are prohibited on the Unit at all times.

7. MAINTENANCE.

The Lessee shall maintain the Unit clean and in well-kept condition at all times during the term of this Agreement. 

Should periodic maintenance or repairs be necessary, the Lessor agrees to notify the Lessee [Notice Period in Days_Maintenance & Repairs] day(s) prior to making such repairs.

8. DAMAGE TO THE UNIT.

If the Lessee causes any damage to the Unit beyond normal usage, the Lessee shall be held responsible for such damages and liable to pay for them prior to retrieving their personal property from the storage Unit.

9. INSURANCE.

The Lessor doesn't provide any type of insurance that would protect the Lessee’s personal property from loss by fire, theft, or any other type of casualty loss. The Lessee is encouraged to secure all the necessary insurance that would protect itself and its property from any kind of damage.

10. LESSOR'S ACCESS TO THE UNIT.

The Lessee shall allow the Lessor to inspect the Unit during business hours upon advance written notice or at any time in the case of an emergency without prior notice.

11. CONDITION OF THE UNIT.

The Lessee warrants that it has examined the Unit and hereby accepts it as being in good order and condition.

12. TERMINATION.

Each party retains the right to revoke this Agreement upon written notice to the other Party at least [Termination Notice Period in Days] day(s) before the termination date. Upon the termination of the Agreement, the Lessee shall have [Number of days to vacate the property] day(s) to remove all its personal goods and return the Unit to the Lessor.

13.  ABANDONMENT.

This Agreement shall automatically terminate if the Lessee abandons the Unit. If the Unit remains vacant for [Unit Abandonment Vacancy Period in Days] day(s), it shall be considered abandoned, and the Lessee shall have to re-rent the Unit from the Lessor.

14. LIMITATION OF LIABILITY.

In no event shall the Lessor's liability exceed the total amount paid by the Lessee for the Unit for any cause of action or future claim. The Lessee hereby agrees that Lessor is not liable for any special, incidental, consequential, or other damages arising out of or relating to this Agreement in any way.

15. INDEMNIFICATION.

The Lessee agrees to indemnify, hold harmless, and defend the Lessor for any damage or injuries caused to any personal items or property in the storage space and hereby accepts that the Lessor shall not be responsible for any damage.

16. WARRANTIES.

Both Parties agree that the storage space is being leased ‘as is’ and that the Lessor hereby expressly disclaims any and all warranties of quality, whether expressed or implied, including but not limited to the warranties of merchantability and fitness for a particular purpose.

17. ARBITRATION.

In the event of any dispute arising in and out of this Agreement between the Parties, it shall be resolved by arbitration. There shall be [Number of Arbitrators] arbitrator(s), who shall be appointed by [Arbitration Appointing Party Name]. The venue of arbitration shall be [Location of Arbitration], and the Seat shall be [State of Seat]. The arbitrators' decision shall be final and binding on both Parties.

18. ASSIGNABILITY.

Neither Party may assign this Agreement or the rights and obligations thereunder to any third party without the prior express written approval of the other Party, which shall not be unreasonably withheld.

19. NOTICES.

Any notices required or permitted by this Agreement shall be in writing and delivered by certified mail or courier to the mentioned address.

20. FORCE MAJEURE.

Neither Party shall be liable for any failure in performance of the obligation under this Agreement due to cause beyond that Party's reasonable control (including and not limited to any pandemic, fire, strike, act or order of public authority, and other acts of God) during the pendency of such event.

21. MODIFICATION.

No modification of this Agreement shall be made unless in writing and signed by both Parties.

22. SEVERABILITY.

If any term, clause, or provision hereof is held invalid or unenforceable by a court of competent jurisdiction, all other terms will remain in full force and effect until the Agreement's termination.

23. GOVERNING LAW AND JURISDICTION.

This Agreement shall be governed following the laws of [Governing Law]. If the disputes under this Agreement cannot be resolved by arbitration, they shall be resolved by litigation in the courts of [Jurisdiction], including the federal courts therein, and the Parties shall comply with the jurisdiction of such courts, agree to accept service of process by mail and hereby waive any jurisdictional or venue defenses otherwise available to them.

24. LEGAL AND BINDING AGREEMENT.

This Agreement is legal and binding between the Parties as stated above. The Parties each represent that they are eligible and authorized to enter into this Agreement.

25. ENTIRE AGREEMENT.

This Agreement constitutes the entire understanding of the Parties, revokes and supersedes all prior agreements between them, and is intended as a final expression of their Agreement.

ACCEPTANCE AND SIGNATURE.

Both Parties shall provide their acceptance by signing below:

[Lessee Name]

[Lessor Name]

Name:

Name:

Signature:

Signature:

Name:

Date:

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