House Rental Contract

KNOW ALL MEN BY THESE PRESENTS:

This House Rental Contract, made and entered into this ___ day of May
of legal age, with residence and postal address at

--- and ---

_________________________________________, of legal age, with residence and postal

address at _______________________________________________________________, herein
referred to as the residents,

WITNESSETH:

In consideration of the agreements of the Resident/s, known as

_______________________________________________________________, and the owner,
known as until the _____ day of _____________________ at which time this agreement is
terminated.

Resident/s, in consideration of Owner permitting them to occupy the above property, hereby
agrees to the following terms and conditions:

1. RENT. To pay FIVE THOUSAND PESOS (Php5,000.00) per month as rental, due and
payable in advance from the ____ day of every month;
2. FAILURE TO PAY ON TIME will result in being served a Notice to End Residential
Tenancy. This notice may be served if the Resident/s has an outstanding balance from
failure to paying the rent. This notice may also be served from being habitually late in
paying the rent regardless of the balance owed. Once the notice is received, the
Resident/s will have a prescribed time to pay the entire amount overdue on the rent.
3. A three-day grace period will be allowed for late payment. However, failure to pay the
monthly rental within the grace period is subject to FIVE percent (5%) interest rate per
month of delay as penalty. Habitual failure of the Resident/s to pay within the prescribed
time shall result in the Owner taking immediate legal action to evict the Resident/s from
the premises and seize the security deposit.
4. SECURITY DEPOSIT. Resident/s agrees to deposit