Editing LoadOfFun (section)

==== Lease Terms and Costs ====
* Rent is $600 / month. Initial cost would be 1200. (first month's rent + $600 security deposit).
* 1 monthly bill for utilities depending on usage, which is calculated by the landlord based on members, activities, equipment, etc. Approximation. Could range from $100 - $200 a month.
* Need liability and theft insurance, could get hookup through LoF's own insurance company. Sherwin suggested it could end up around 100 a year.
* Lease would start August 1st and last for one year. After the year, it will not automatically renew and instead becomes a month to month agreement.
* We can break the lease if we give 60 days notice. After we move out, we are liable for up to two months rent (1200) if the space remains empty after we leave. So if a tenant is found between when we give our 60 days notice and when we move out, there would be no cost for breaking the lease. If the space remains empty for 30 days after we leave, we will be liable for $600.