Renters Lease Arrangements - What To Expect on Your Home Rental Agreement  

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 of trouble.

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.   Site Map - About Us - Contact Us - Terms of Use - Privacy Policy

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