Personal Property Rental Agreement

Simply complete the Personal Property Rental Agreement form below and click on View Results to see your completed contract.

LawDepot's Personal Property Rental Agreement:

  • Is used for the rental of almost all types of personal property by individuals or businesses.
  • Is available in long or short format. It is customizable as to lease term, rent, damage deposit, delivery, restrictions on use, warranty, insurance, return of property, grace period, assignment, renewal, and more.
  • Is inexpensive and easy to use, yet comprehensive in its protection.

Examples of Personal Property:
CDs, toys, books, wedding apparel, cameras, bicycles, clothing, jewelry, musical instruments, software, games, pools, hot tubs, etc.

Note: This Personal Property Rental Agreement form may not be adequate for the rental of vehicles, residential properties, commercial properties, farm equipment, or sporting equipment. If you are looking for an agreement to rent equipment, try our Equipment Rental Agreement. If you are looking to rent a house, condo, bedroom suite or residential apartment, try our Residential Lease. If you are looking to rent commercial space, try our Commercial Lease Agreement.

We regularly maintain this contract. Last Modified: February 2009


Personal Property Rental Agreement Details
Check to Show Hints for Completing this Form

This software has the flexibility to let you quickly create the Rental Agreement document you want. It does this by providing many options with appropriate defaults.

One common default is 'Do Not Specify'. This default means that the finished agreement will not have a clause dealing with that topic. The benefit of not specifying is that you get a shorter and simpler document, and in some cases, the issue may not even be applicable; however, the document will be less precise.

If you are unsure of an answer, you can leave the answer blank and a blank line will be inserted in the place of your answer. You will be able to fill in that answer later (but before the contract is signed).


The laws of which State will govern this Agreement?

Lease Format:
The Long Version of the Lease includes additional clauses and terms that will make your Agreement more precise, able to deal with more situations and easier to enforce. The Short Version omits those terms that are not absolutely necessary to express your terms.
Lessor / Owner (the person or corporation that owns the Property. The Lessor rents the Property to the Lessee.)

Number of Lessors:

First Lessor's Information

Name:
Address:

(e.g. Street, City, State and Zipcode)
Type:

Second Lessor's Information

Name:
Address:

(e.g. Street, City, State and Zipcode)
Type:

Third Lessor's Information

Name:
Address:

(e.g. Street, City, State and Zipcode)
Type:
Lessee / Renter (the person or corporation that rents the Property from the Lessor/Owner.)

Number of Lessees:

First Lessee's Information

Name:
Address:

(e.g. Street, City, State and Zipcode)
Type:

Second Lessee's Information

Name:
Address:

(e.g. Street, City, State and Zipcode)
Type:

Third Lessee's Information

Name:
Address:

(e.g. Street, City, State and Zipcode)
Type:
Property

Describe the Property being rented:
Name and describe the Property, e.g., new or used, year, make, model, serial number, color, other identifying characteristics.

Cash value of Property:
(e.g. 500.00, 1000.00, etc) Q. What is the cash value of the property? A. The cash value would be an estimate of what the property is worth at the time the agreement is made. This amount may not necessarily be the same as what the Lessor paid to acquire the property.

Type of Lease term:
Q. What does "Automatic Renewal" mean? A. Automatic renewal means that the lease continues indefinitely on the agreed upon time period (weekly, monthly, or yearly) until either the Lessor or the Lessee gives notice to the other party that they will be terminating the lease.
Date Lease starts:
Date Lease ends:
Describe notice to terminate lease:
(e.g. The Lessee or the Lessor gives the other 20 days written notice of its intent to terminate this Agreement.)
Rent and Other Costs

Lessee will pay Rent:
Amount of Rent:
(e.g. 1000.00, 2000.00, etc.)
Day of the week for first payment:
(e.g. Monday)
Date of first payment:
(e.g. July 1, 2004)
Subsequent monthly payment date:
(e.g. first, tenth, etc.)
Total Rent Payable:
Total rent payable is the Rent (just the Rent) paid during the whole term of the Lease
 
Damage deposit?
Q. What is a damage deposit? A. The damage deposit is money that the Lessee pays to the Lessor at the start of the lease term to cover the costs of any repairs caused by the Lessee. If some of the damage deposit still remains after all repairs are completed, the remainder of the damage deposit will be returned to the Lessee, or if there are no repairs that need to be done to the property, then all of the damage deposit will be returned to the Lessee. Sometimes it is referred to as a security deposit.

Describe the nature and amount of any value other than Rent the Lessee must pay, such as administration charges, other fees or any property that is being traded as part payment:

(e.g. administrative charges of 150.00)

Total cost of Lease:
(What is the total of all Rent, charges, fees, and property that will be given by the Lessee to the Lessor over the entire Agreement. If variable Term such as month-to-month until terminated indicate monthly cost plus all other costs, e.g. 500 per month plus 200 administration fee.)

Who will deliver Property?
Deliver property to:

(e.g. Street, City, State and Zipcode)
Pick up Property from:

(e.g. Street, City, State and Zipcode)

Restrictions on use of Property?
Specific restrictions:
(Describe restrictions in complete sentences. e.g. Lessee will not use the Property in a certain manner or for a certain activity)
Warranty

Address Warranties in Agreement?
No Yes
Property will be used for a personal, family or household purpose?
Lessor Represents Property is of Merchantable Quality (fit for the purpose for which they are intended)?
Purpose for which Property is being rented?
Loss and Damage to Property

Lessee is responsible for loss or damage to Property?
If Property is totally lost or damaged beyond repair, Lessee will:
Return of Property

When Lease ends:
Q. How should the property be returned to the Lessor once the lease has expired? A. The parties are free to decide how the property will be returned; the Lessor can retrieve the property from the Lessee, or the Lessee can deliver the property back to the Lessor. Whichever method is agreed upon and included in the Personal Property Rental Agreement must be followed, unless both parties subsequently agree to an alternative method of returning the property to the Lessor.
Return Property to:
Pick up Property from:
Taxes

Lessee will pay taxes and fees levied against Property?
Default Period

Grace period for failure to pay Rent?
Q. What is a grace period for paying rent? A. A grace period relates to when the Lessee fails to make a scheduled payment on time. A grace period is a period of time during which a payment may be made after its due date without incurring a late penalty. If the lessee (renter) has not made its late payment before the end of the grace period, the lessor, in certain circumstance, may elect to terminate the lease.
(Grace Period is the amount of time the Lessee can be in default in paying before any additional costs are levied or the owner can terminate the lease.)

Number of days:
(e.g. 5, 10, etc.)
Additional Clauses

How many additional clauses do you want to create?
 
First additional clause:
 
Second additional clause:
 
Third additional clause:
 
Fourth additional clause:
Address for Notice

Send notices to Lessor to:
Sent notices to Lessee to:

Annual interest rate on overdue payments?
(e.g. 5, 10, etc.) Q. How much interest can the Lessor assess against the Lessee for overdue payments? A. The Lessor and Lessee are free to negotiate a rate of interest for overdue payments in the Personal Property Rental Agreement. However, some jurisdictions have established a maximum level of interest that can be assessed, and the Lessor cannot exceed this maximum rate of interest even if the Lessee consents. As a lease is not a loan, the various usury limits are not applicable.
Signing Details

This Agreement to be signed?
Today This Month Unsure Specified Date Q. I do not know when the Personal Property Rental Agreement will be signed. Can I fill in the date later? A. Yes, by selecting 'Unsure' as the date the agreement will be signed, a blank line will be inserted into the lease so that you can add the correct date after printing the document.
Date Agreement to be Signed?
(e.g. June 1, 2004)