On signing a lease agreement, it is important that you understand what it means and exactly what you have agreed to. Some important points about the lease agreement:

    It is an agreement between you and VALprop.
    It is a legally binding contract.
    By signing the lease agreement you have agreed:
        to pay rent every month, the amount depends on which unit you are renting;
        to pay this rent by the 1st of every month for the duration of your stay in the unit
        (an administration fee will be charged if you pay rent after the 7th of the month);

        to pay your utility services such as water, electricity, sewage and refuse removal account every month;
        to follow the house rules for your building;
        to allow only a certain number of people to stay in your flat.
The agreement says that the rent will increase every year. You will be told about the rent increase two months before it is due to be paid.

YOUR DEPOSIT

When you sign the lease agreement you will have to pay a deposit equal to one and a half months' rent. During your stay in the building, your deposit is held in a bank account. When you leave your flat, the deposit, is given back to you.

To get your full deposit back you need to make sure that:
the flat is given back to VALprop in the same condition in which it was given to you; and
you do not owe VALprop any rent.
However, if you cause any damage to the flat or do not pay your rent, your deposit will be used by the VALprop to cover the repairs or the unpaid rent. You will be given back any deposit money that is left after these costs have been paid.
Your rent covers the costs of managing and maintaining the building, including cleaning the common areas and security. The rent also helps VALprop to pay back the loan it took out to build or buy the building. At the end of the month you will also get a bill for the utility services that you have used.

WHAT HAPPENS IF YOU DO NOT PAY YOUR RENT?

Your rent agreement is a legal contract. This means you have to pay rent on the first day of every month. If you do not pay your rent, VALprop will begin a series of actions against you, beginning on the 7th of the month. These actions may lead to your eviction or your goods (possessions) being confiscated to cover the rent you owe. You will have to pay the legal costs involved, and you may be credit blacklisted.

Download Lease Agreement Form Here:
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