Common use of Lease Term Lease Term Clause in Contracts

Lease Term Lease Term. Define the terms of the lease by clearly stating when the lease term begins and ends. Termination Notice – Include the termination notice period. Section IV. Rent Monthly Rent Due – Include the price of rent that is due per month. When Rent is Due – Write the date rent is due, typically rent is due on the first of each month. Late Fees & Grace Periods– In most states, a late fee can be charged if rent is not paid on time. If there is a late fee, enter when rent is considered late and the fee for each day or occurrence rent is late.