One day, from the time you move out of your childhood home to the first house, you may find yourself staring at the lease. A lease is a contract between a person who owns an immovable property (also known as a landlord) and another person (lessee) who owns the real property, including conditions under which the lessee may own, possess, and use the immovable property.
Reading a lease can be confusing, and usually the first impulse is to continue signing a lease instead of trying to break into and decipher all legal languages. Do not do this. It's important to understand that a lease is a legally binding agreement, and if you don't follow these terms, you may find yourself in trouble – the terms you sign and agree on the dotted line. Take a moment to read the entire document before signing.
Here are the things to look for when renting a home, whether it's an apartment or a house.
Includes attribute details
The lease should include the basic facts and data of the property, including the actual address and the name and contact details of the landlord. It should also state the date the lease was signed; the start and end dates of the lease; and the choice of lease renewal, including the policy to increase rent. If there is any appliance in the unit (such as a stove, refrigerator or washing machine), and / or if the device is already equipped, it should also be included.
People tend to pay close attention to the monthly rent, but may also notice other costs, including various deposits and fees. Detailed information about any deposit, such as prepayment deposit, parking fee or pet fee, should also be clearly stated and the conditions for retrieving your money.
- Monthly amount payable
- When will it expire?
- Acceptable payment method
- Any allowable grace period for deferred payments
- Amount of any late payment fee
- Utility inclusion
The lease should state the policy regarding utility services and billing. Be sure to figure out which utilities (if any) are part of your monthly rent and if you need to pay any fees. For example, some landlords pay for electricity, water, and sewer services, while tenants pay for cable and internet.
This is a matter that needs to be closely watched because it will eventually cost a lot of money, time and headaches. In some rental arrangements, the landlord is responsible for all repairs and maintenance – whether the faucet leaks or the air conditioner is broken. In other cases, the landlord may only repair or replace the main appliance, but let the lessee take care of everything else. In addition, there are agreements that require the lessee to be responsible for all repair and maintenance costs. There are also provisions for the maintenance of the site or the external area.
As you can see, when it comes to repair and maintenance issues, you must read the lease to determine the responsibility of your landlord and your landlord. Make sure you know who pays, who makes the service call, and when you and your landlord solve any problems.
If you have a pet, please read the lease to see if the animal is allowed, and if so, if there are any restrictions on the size or variety.
You may be required to pay a “pet deposit” that may or may not be returned once you move out (assuming no pets are damaged). Sometimes the "pet fee" is non-refundable because it is used to treat flea space, deodorant and shampoo units after the floor and upholstery, you move out.
In some cases, you may also pay a “pet rent,” a monthly or annual fee attached to the rent to cover the normal wear and tear of the pet.
If there is a pet ban in the lease and you violate this clause and bring a plush friend to your apartment, the landlord usually has a legal right to evict you. However, once the lease is signed, you cannot add a no-pet clause to the lease, so your landlord cannot change the pet policy in the middle of the lease.
The lease should state the acceptable use of the property (for example, “The property should be used exclusively as a private residence for the lessee and its immediate family members”), as well as any policy for:
Maximum occupancy rate
- Quiet time
- Overnight guests
- Parking and storage
- Smoking
- Owner access
- Grant maintenance workers access
- Property change
- Absent for a long time
- Insurance requirements*
- Expulsion
- Early termination
The lease should state what you need to do before you move out. How much notice do you need in advance? What type of cleaning work are you responsible for? If you have to move out before the lease expires, the lease should also state your choice.
