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Preparing Residential Lease Agreement

The information below is used to help DHA agents fill out the residential lease agreement found on Zipforms. 

Modern Living Room

Date: Date of document preparation 

Landlord: Landlord's full name / Owner of Record / Blank if representing tenant only

 

Tenant: Tenant's name who will sign the lease agreement. If there are several people renting, those whose income will be considered/screened for the application process, their names shall be entered as tenant. For example if military receiving housing allowance to cover the rent, just the service member's name can be used as tenant, and other family members will be listed on line 1B.

Property:

1A. Address of property for example: 150 Harmon Sink Road, Unit 1A, Tamuning, GU 96913

1B. Full names of those who will be living in the unit including the tenant who will be signing lease agreement.

1C. Personal property is anything not fixed/attached to the property, furniture and appliances listed in the listing. If more space is needed, use an addendum to list all and select the box.

Term:

Date: Commencement date is when rent begins.

2A: Select this if a month to month basis.

2B: Select this if longer than a month and enter date of termination and time.

Rent:

3A. Monthly rent amount

3B. Keep as is or talk to listing agent if a different day is permissible; or you can put a day if your client is requesting for specific day and up to the landlord to agree or not.

3C. Keep this info in mind. If commencement day is not the first or the day indicated on 3B, you will divide rent by 30 and then round up to the nearest cent. Then multiply that rounded amount to how many days the client has for the month. Example: Commencement day is February 7 and monthly rent is $2450. Divide $2450 by 30. The amount will be $81.67 (rounded). Subtract 6 days from 28 days in February. The remaining days tenant has is 22 days, multiplied by $81.67 will total $1796.74. Up to you to ask your client if they want to round to the nearest dollar. This is how you calculate prorated amount, even if a month has 28, 29, 30, or 31 days.

3D. Leave blank if representing Tenant. Fill out information if you are representing landlord.

Security Deposit:

4A. Security deposit cannot  be more than one month's rent as per Landlord Tenant Act. Enter one month's rent here.

4B. Find out from landlord's agent how much shall be the pet deposit if any pets are allowed. Note not to exceed $500 per pet. 

4C. Enter 3. 

Move-in Costs:

Rent from Commencement Day to end of the month. Follow prorations as explained in item 3C. Enter in total due column.

Security Deposit is equal to one month's rent, enter on total due column.

Pet Deposit if applicable, enter amount on total due column.

The other areas will populate once you put amounts on Total Due and Payment Received.

Due Date: Best to collect funds from client when they want to submit an offer. All funds will be deposited to DHA Brokerage Trust account and Broker will write out a check to Listing Agency by move-in inspection. We accept cash, cashier's check, personal/business checks, and wire transfers. We need to allocate time for checks to clear on DHA before we issue checks to the other agency. Please ask other agency if we can subtract commission from the funds we collect. Some listings will say on their listings, pay funds directly to Listing Agency or Landlord. If Listing Agency want payment of funds then either collect it from client and submit it for them, or have client visit listing agency to pay at their office. Please get a copy of the receipt if paid with the other agency for our records.

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