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Irvine Company Lease Agreement

If you`re considering renting property from the Irvine Company, you`ll need to familiarize yourself with their lease agreement. The Irvine Company is a privately held real estate investment company that owns and manages properties throughout California. Their lease agreement is a legally binding contract that outlines the terms and conditions of your rental agreement.

Here are some key things to know about the Irvine Company lease agreement:

1. Lease term: The length of your lease agreement will be specified in the contract. Typically, Irvine Company leases are for 12 months, but shorter-term leases may be available for an additional fee.

2. Rent: The amount of rent you`ll pay each month will be outlined in the lease agreement. This amount may be subject to increase at the end of your lease term.

3. Security deposit: You`ll be required to provide a security deposit at the time of signing your lease agreement. This deposit is typically equal to one month`s rent and will be held by the Irvine Company as a guarantee against any damages or unpaid rent.

4. Maintenance and repairs: As a tenant, you`ll be responsible for keeping the property in good condition. You`ll also be responsible for reporting any necessary repairs to the Irvine Company. However, the company is responsible for maintaining the property`s major systems, such as HVAC and plumbing.

5. Lease renewal: At the end of your lease term, you`ll have the option to renew your lease if you choose. The Irvine Company will typically offer you a renewal lease at a slightly higher rent rate than your current agreement.

6. Early termination: If you need to terminate your lease early, you may be subject to a penalty fee. This fee could be equal to a certain number of months` rent or a flat fee.

7. Subleasing: The Irvine Company does not allow subleasing of rental units. If you need to move out early, you`ll need to work with the company to terminate your lease agreement.

Overall, the Irvine Company lease agreement is a standard rental contract that outlines the responsibilities of both the tenant and the landlord. It`s important to read and understand this agreement before signing, as it will serve as the basis of your legal relationship with the Irvine Company.