Renters Lease Arrangements - What To Expect on Your Home Rental Agreement
If you're leasing an apartment or house for the first time, you
might be confused by all the legalese and mumbo jumbo you see on
your paperwork. This article aims to explain what the information
on most leases and rental agreement means for you. It's not really
as complicated as it seems, but if you don't pay attention to and
abide by the terms of your lease, you could still get in a lot
There's a difference between leases and rental agreements. A lease
is for a set period of time, in which the renter and the landlord
must legally follow the terms of the written agreement. This means
that you must inhabit the property and pay rent, or be penalized
for the amount owed. This also means that the landlord must provide
housing and may not increase the amount of your rent until the
next term. Leases are commonly for periods of six months or a year.
Rental agreements, on the other hand, are usually month to month,
although they renew automatically. At the end of each thirty day
period, both the tenant and the landlord can make any changes they
choose, including moving out or raising the rent.
There are a number of things to look
for on your lease or rental agreement. One is to make sure that
your name and the names of all adults living with you are correct
and on the agreement. Also pay attention to occupancy limits – you
may not be allowed to have more than a certain number of roommates.
The agreement should clearly state whether it is a rental agreement
or lease, and should include the amount, method, and due date
of rent payments. Any deposits and fees, and whether or not they
are refundable should also be able to be found on your lease.
These include cleaning and damage deposits, as well as pet fees
and other costs.
Responsibility for repairs and maintenance should be clearly spelled
out, including who does the yard work, and what the requirements
are for repairing damages to the premises. You should also get some renters insurance quotes, as your personal property is not covered by the landlord. The landlord should
clearly state the terms of their access to the property, and how
much advance notice should be provided. The terms of allowing any
pets in the property, such as what kind of pet and whether or not
there is a deposit or fee, should also be stated. There may also
be additional restrictions, according to state and local law.
Paying attention to the terms of your
lease is your first step in making sure that you will be able
to easily live in your rental property. Don't think that you
can ignore a specified lease restriction – you
can be held legally liable for violating your lease, and that could
cost a lot of money. You should also make sure you know your lease
in case your landlord turns out to be less than honest. You are
not the only one who can be held responsible for lease violation.
Knowing this is important to protecting your rights as a tenant.