Furniture Rental Agreement

Parties to the Agreement

This LEASE AGREEMENT ("Agreement") is created and entered into, by and between [Lessor.FirstName][Lessor.LastName] of [Lessor.Company]​ located at [Lessor.StreetAddress], [Lessor.City], [Lessor.State][Lessor.PostalCode] ("Lessor") and [Lessee.FirstName][Lessee.LastName] of [Lessee.Company] ("Lessee").

Property to be Leased

The Lessor agrees to lease the following list of items of furniture to the Lessee for (period of time) in accordance with the terms and conditions of this Lease Agreement. This Agreement shall go into effect on (month, day, year). 

Terms and Conditions

1. Fees

The Lessee shall pay the amount of $(rental amount) to the Lessor, payable (state payment structure, e.g., the 15th day of every month, every 12th month, etc.) until the termination of this Agreement. Lessor shall also pay a transportation charge of $(transportation fee), plus tax and an insurance charge of $(insurance fee). 

2. Late Payment

For each payment not received by Lessor within (number) days after the due date, Lessee will be charged a late fee in the amount of $(late fee amount). This late payment charge shall be in addition to Lessor’s other remedies in the event of default. In addition to late payment charges, Lessee will be charged compound interest of (interest amount)% per month on all delinquent payments where allowed by law.

3. Returned Checks

A $(number) handling fee will be charged for any check returned to Lessor by your bank. A replacement certified check or cash must be delivered to Lessor within 24 hours from the time notice has been given to the Lessee of the check return. 

4. Security Deposit

The Lessee shall secure and deposit $(amount) to the Lessor as security for possible damage during the term of use. The security deposit shall be given to the Lessor at least three months before the onset of this Agreement.

5. Use of Property

The Lessor prohibits the use of the piece(s) of furniture beyond the agreed business functions, which includes using the pieces of furniture for (describe the agreed upon functions for which the furniture will be used, e.g., staging, video production sets, etc.). The Lessee shall only use the furniture for the purposes described herein. It is the Lessee’s responsibility to maintain the property, keep it in good condition, and return it to Lessor at the end of the Lease Term or otherwise as required by this Agreement, in the same condition as when received by Lessee. Ordinary wear is excepted.

6. Failure to Return Property

If you fail to return the Leased Property as required, you will be liable to Lessor for its full retail value (Lessor's current retail price) in addition to all other payments and charges identified in this Lease Agreement. 

7. Restrictions

The Lessor shall not permit the Lessee to use the furniture for any activity or purpose that may cause damages to the property, including discoloration, tears, or other such damages. 

8. Penalty

The Lessee shall be held responsible and liable for damages to the furniture. In the event of a violation of the restrictions, the Lessee shall either purchase another similar material, pay the Lessor, or repair the item if satisfactory to the Lessor. 

9. Security Interests

It is understood that this transaction is a lease and not a financing agreement or a conditional sale. Ownership and title to the Leased Property remain vested in the Lessor. The Lessee may not grant a security interest of any kind in the Leased Property. Lessee shall keep the Leased Property free and clear from all attachments, levees, encumbrances, and liens. In the event that any person other than Lessor attempts to create or assert an interest in the Leased Property, Lessee shall give Lessor immediate notice and take such action as Lessor requires.

10. Extension

If the Leased Property is not returned at the end of the Lease Term, the lease shall be extended monthly based on the terms and conditions stated in this Agreement until either party sends the other written notice of termination. 

11. Termination

After (period of time), the undersigned parties may terminate this Agreement with immediate effect if violations occur. A notice of termination will be given (period of time) before the effective termination date. 

12. Early Termination Penalty

If the Lessee terminates this Agreement before the effective termination date and without cause (violation of said Agreement), the Lessee agrees to pay an early termination penalty of (insert amount e.g. $X,XXX or XX% of the total agreed upon amount). 

13. Governing Laws

This Agreement shall be governed by pertaining laws followed in the State of (state) where the Lessor and Lessee reside. 

14. Warranties

Lessor will deliver the Leased Property in good condition. Lessor makes no other warranties, express or implied, and specifically disclaims any warranty of fitness for a particular purpose or merchantability. 

Credit Department Approval

Acceptance of this lease by the Lessor is conditional upon approval by its credit department.