Lease Terms 1. Minimum Lease Duration All lease agreements shall be for a minimum term of twelve (12) months, commencing on the lease start date and ending twelve (12) months thereafter, unless otherwise agreed in writing by both parties. 2. Security Deposit Upon approval of the rental application, a security deposit is required to secure the lease. The amount of the deposit will be specified in the lease and must be paid within [3] days of approval to hold the property. Failure to submit the deposit within this timeframe may result in cancellation of the application and forfeiture of the applicant's priority for the rental. 3. Occupancy Commencement The lease will begin on the agreed-upon start date, provided all required payments, including the first month's rent and security deposit, have been received in full. 4. Renewal and Termination At the end of the initial lease term, the lease may be renewed or extended subject to landlord approval and mutual agreement. Either party must provide [30/60] days written notice prior to the expiration of the lease to terminate or non-renew the agreement.
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