The Lease

The contract will outline what you are responsible for doing, how long you commit to staying, and other details.

Understanding Your Lease Is Important

The contract will outline what you are responsible for and how long you have to stay. The legal documents called leases or rental agreements outline the expectations and responsibilities for the tenant and landlord. Although the terms "lease," "rental agreement," and "rental agreement" can be interchanged, they have different purposes and durations.

A lease agreement (sometimes called a rental agreement) is a contract that outlines a long-term rental period. This means that the landlord can't rent the property to anyone else, and the tenant must pay the monthly rental fees until the lease ends. If the lease is not renewed, both landlord and tenant must give notice within 30 days. This option is more stable for both tenants and landlords.

Lease Agreement Basics

  • Names Of The Tenants

    This list includes all adults living in the home and makes them legally responsible for following the lease terms.

  • Identification Of The Premises

    This will include the street address of the rental and possibly the agreement's contents, such as furniture or designated parking spaces.

  • Lease Term

    This agreement verifies the rental period. The agreement will state that you are entitled to live in the rental during the month you pay rent. You or the landlord can either end the agreement by giving written notice. A standard lease will have a starting and ending date. These dates are usually between six months and two years. Except as provided in the lease, termination before the end date is not allowed unless there are specific reasons. You will be subject to a penalty.

  • Rent Payments And Other Fees

    This agreement will confirm the exact monthly rent amount. It should specify when rent is due and how to submit it. Online payment may be an option. You will also need to list any additional fees, such as damage fees and security deposits.

  • Limits On Occupancy

    These may include restricting the residential use of the tenancy rather than allowing it to be used as a business space or business space and limiting the number of persons who can live in the unit. You may have to limit your stay at night.

  • Exclusions For Subletting

    Some agreements prohibit tenants from renting to other tenants, also known as subletting.

  • Information About Pets

    Pets allowed should be noted in the document, along with any deposit required for animal damage.

  • List Of Amenities

    This section should include any extras that are not included in your rent. It includes everything from covered parking spaces to community pool access.

  • List Of Utilities

    It should also specify whether water or garbage are included in rent.

  • Requests Processed

    It should also include contact information for maintenance and other issues. This should include specific contact information as well as a statement of your responsibilities.

  • Right Of Entry

    This specifies when and under which circumstances a landlord may enter a rental. This could allow access to scheduled maintenance.

Additional Advice

 

It Should Be In Writing:

A lease that does not include a particular detail will be void. If you ask for exceptions, make sure they are included before you sign.

Confirm The Dates Of Your Rental Lease:

Verify that the dates of your rental period are correct. Many stories have been told about tenants who signed a two-year lease thinking it was for one. Once you sign it, it becomes a legal contract, and you are responsible for all its contents.

Find Out The Price Of Ending Your Lease:

You're human, and things happen. It's important to know what financial consequences you will face if you do. Break your lease. You may have laws prohibiting landlords from charging fees for breaking a lease, depending on where you live.

If You Have Any Additional Concerns:

It might be worthwhile to hire an attorney to go over the lease with you before signing.