This form is a lease agreement. The lessee shall pay all ad valorem taxes assessed against the subject property together with all personal property taxes duly assessed against the personal property located on the premises and shall also pay all privilege, excise and other taxes duly assessed.
Georgia Five-Year Building Lease Agreement
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Multi-State
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US-60950
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Word;
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FAQ
These tenancies usually begin as fixed term tenancies where the duration is defined from the outset, typically anywhere between 6 months to three years (but can be up to seven years) as mutually agreed between the landlord and tenant.
Yes, a lease can automatically renew in Georgia. In order for the lease to renew, the tenant has to notify the landlord of their intention to renew the lease. Otherwise, the lease is terminated at the end of the original rental period.
No, lease agreements do not need to be notarized in Georgia. Some states require leases of a certain length to be notarized, but that is not the case here. If the landlord and tenant agree, they can have the lease notarized for additional legal protections.
In Georgia, the maximum length of a standard residential lease is one (1) year. Leases with a duration longer than one year must be in writing, and the terms must be agreed upon by the landlord and tenant. Even written leases cannot exceed a period of five years (GA Code § 44-7-1 (2018)).
In fact, all terms and requirements must be in writing in order to be legally binding. Georgia law also requires security deposits to be held in an escrow account, as opposed to being deposited into the landlord's own account.
In practice, 12-month tenancies are the norm, as they strike a good balance between guaranteeing the landlord sufficient rent and giving the tenant enough freedom to leave the tenancy after a reasonable period of time. When we surveyed 600 tenants, the majority said they would expect a 12-month tenancy.
In fact, only Connecticut, Georgia, Louisiana, and South Carolina still require two witnesses to the execution of a lease.
Renewal of the Rental AgreementIf the landlord and tenant want the lease to renew automatically, the lease should state that it automatically renews. If the tenant is renting month-to-month: The landlord must notify the tenant 60 days before the landlord would like the rental agreement to end.
The most common lease term is for one year, but leases can be for any length of time as long as the landlord and tenant agree to the length. They can be as short as six months or as long as 30 years, which would be more common in commercial leases. No Automatic Renewal: Lease agreements do not automatically renew.
Leasehold is usually granted for at least 21 years and can last as long as 999 years. Renting residential property is usually on a short-term basis through a contract called an assured shorthold tenancy (AST).