When you rent an apartment, your lease is the most important document you will own. It is imperative that you not only understand your lease, but you should also be knowledgeable about leases in general. Because ignorance of the law is not an excuse, it is up to the tenants to inform themselves and to know what is legal and what is not. Remember that landlords are in the business of making money. Because of this, unethical landlords may attempt to neglect their obligations and try to illegally raise rent. This article discusses the lease, and how it works.
The Standard Lease
A lease is a legal document. As such, it must speak incorporate current legal statutes, be clear and concise, and list exactly what is expected of the tenant. There are no "by the way" moments here. Here is what a basic lease agreement entails:
- The concerned parties - landlord and tenant
- The address of the property
- The amount of rent and the dates of payments
- Who the rent is to be paid to - landlord or rental agency
- The length of the agreement – either by the month or for a specified number of months
- The security deposit, and terms of the deposit
- The initial payment
- The number of occupants
- Terms of subletting or assigning, if any allowed
- How utilities are handled
- Where you can park
- Documented condition of the premises
- Alterations you are allowed to make, if any
- Late charges
- Rules concerning noise and disturbances
- The landlord's right to entry and how much notice will be given
- The responsibility of the landlord to make repairs
- The keeping of pets
- Terms of furniture allowed - for example, waterbeds
- Insurance - speaks to whether it is required and the terms of the policy
- Termination of the lease or agreement
- Terms of possession - when the renter is allowed to move in
- Abandonment - addresses the tenant leaving without notice or with unpaid rent
- A waiver - speaks to the landlord's non-compliance of the conditions of lease
- Personal property of tenant – what will happen to property left after a renter moves out
- Any additional terms or stipulations
Although this list is long, it does not cover any special circumstances. These will be applied to the lease by the specific landlord or rental agency. Be sure you know the difference between fees and deposits. A fee is non-refundable, while a deposit is refundable but subject to the conditions of the lease.
What to Know Before Signing a Lease
A lot of this is common sense. For example, never sign anything that you have not read or do not understand fully. Don't be afraid to ask questions. If there are stipulations in the lease you don't agree with, negotiate with the landlord. Often you can have changes made to allow pets, smoking, etc. Ask about special services. You may have to deal with your own garbage in some cases. Other things might be the availability of parking or snow removal in colder regions. Always pay attention to the terms of rent increase. This is specified by law, and is unchangeable. A good example of this is a person who has lived in an apartment for 10 years and has redecorated the apartment and installed fine carpeting that is not in other apartments. An unscrupulous landlord tried to raise the rent on this apartment dweller because their apartment is "better" than similar apartments in the unit, but was prohibited by law.
What to Do If You Need To Break the Lease
Because many young people under age 35 rent, it is often common for them to move before the end of a lease. It may be due to a job change, loss of employment, or marriage. If you have discussed this with your landlord, and problems arise, the best bet is to visit an attorney or legal aid society to find out what can be done. If you want to avoid paying more than you have to, seek help. There are many tenants' rights organizations. A good list of these can be found on Dmoz.org. Search using the keyword phrase "tenant rights". The process of breaking a lease is beyond the scope of this article. Much can be found online.
A lease is a binding agreement between you and your landlord. It is in your best interest to not only know the score, but to question other tenants in the building before binding yourself in a lease that may be very hard to get out of. Follow these simple suggestions, and perform your own due diligence.
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