The language of real estate leases can be confusing.Many people will sign the lease without reading the entire document.Different provisions can be included in a lease.These terms are legally binding once you sign them.It's important to understand your lease as quickly as possible.If you do so, you will be better prepared to deal with any conflicts that may arise.If you still have questions about your lease, you should get in touch with a real estate broker or an attorney in your area.
Step 1: Make sure that your name is recorded correctly.
The identification of the parties is the first paragraph of most standard written leases.You need to make sure that you are the tenant.If you are renting with a roommate, spouse, or family, you should make sure that everyone who is legally responsible for the rent is named as a tenant.You can find a sample rental agreement at masshousingInfo.org.General terms that will be accepted in most states are included in this template.The parties are identified in the first paragraph of the sample rental agreement.The children will not be named as tenants if you are married and have children.You can check to see if the lease contains a paragraph about children or a section to name everyone who will be living in the apartment.Paragraph 7 is where children would be listed on the sample rental agreement.If you are renting with a roommate, you should decide how you will share the liability for the lease.The landlord may want to name both individuals as tenants.If one tenant moves away, the landlord can still hold the other tenant responsible.If you have all your roommates named on the lease, you don't have to worry about legal responsibility.
Step 2: Understand who your landlord is.
The person showing you the apartment may not be the owner of the property.The owner of a large apartment building may be a corporation or someone who doesn't live in the building.The landlord should be clearly identified in the lease.The landlord is identified in Paragraph 1.
Step 3: Look for the identification of a responsible person.
If the owner doesn't live at the property to take care of any concerns that might arise, you will want to make sure that you know who to contact for any problems.If you want to contact the property manager at any time of the day, look for his or her name.It is possible that your heat could go out or a pipe could burst in the middle of the night.You need to have a phone number that you can call at any time.There is no notice provision in the sample rental agreement.You can either ask the landlord for the information or attach it as an extra provision.
Step 4: You can find the definition of the property you are renting.
A clear statement of the property you are renting must be included in the lease.Make sure the apartment is clearly identified.The description of the apartment should be included in the identification.Paragraph 2 defines the property.Paragraph 5 gives a description of the property that is included with the apartment.A floor plan of the apartment can be attached to a lease in an apartment complex.If you are renting a space in a single family home, you may not have an apartment number.The lease may have a description of the second floor apartment, which has a kitchen and bathroom on the first floor.
Step 5: Know the amount of rent you pay.
The rent is perhaps the most important detail when renting an apartment.In the first few paragraphs of a lease contract, this needs to be stated clearly.Make sure the rent is in line with what you and the landlord have agreed to.The rent clause can be found in Paragraph 4 of the sample rental agreement.Sometimes a landlord and tenant will agree to something in a lease contract, but not in public.The landlord in the future might be able to rent to someone else more easily for a higher amount if they agree privately on monthly rent of $1,300.If there is a dispute between you and your landlord, the court will uphold the written lease.It is possible for the landlord to turn on you and demand an additional $300 per month.
Step 6: Agree on the due date for rent payments.
Rent payments should be defined by the lease.Payments are usually made by the first of the month, although some leases may call for them to be made on the last day of a month.The amount of rent payments and due dates are defined in Paragraph 4 of the Sample Rental Agreement.
Step 7: There is a grace period for late payments.
The rent should be paid by the due date.A provision for a grace period is included in most leases.If you make your payment within 5, 10, or sometimes as many as 15 days late, the landlord will take no action against you.There is no mention of late payments in the sample rental agreement.The benefit to the tenant is that it limits the landlord's ability to charge a late fee.You are not protected by a grace period, and the landlord could just declare you in default of the contract on the first day that you are late.Adding a grace period to the lease is a good idea.Don't rely on the grace period.Even if the landlord doesn't impose a penalty or take any action against you for a late payment, he or she may still take note of it.If the landlord says that you made every payment late, that will make it hard for you to get a referral to move to another apartment.
Step 8: Understand the consequences of late payments.
You should find an explanation of the landlord's right if your rent is late beyond the grace period.There may be a small penalty fee or possible eviction.State laws can regulate how much a landlord can charge.You should check with a real estate lawyer or local housing board if you think the lease allows a penalty that seems unreasonable.
Step 9: The landlord has the right to increase the rent.
When and to what extent the landlord may increase the rent should be defined in the lease.If you sign a multi-year lease, you should include a provision that allows the landlord to increase the rent at the end of each year by a limited percentage.Rent increases can be limited by some state laws.The landlord must honor the rent amount for the duration of the lease if it does not address the issue of a rent increase.The landlord can issue an increase if the lease expires or becomes a month-to-month lease.There is no mention of rent increases in the sample rental agreement.
Step 10: The start and end dates need to be clearly stated.
The first and last dates of your lease should be clearly identified in the lease.You and the landlord can agree to any start and end dates that you want, but usually this will begin on the first of a month.If you need to move in before the first of the month, you may be able to negotiate with the landlord for an earlier state date.If the property is empty and ready for you, the landlord might be willing to let you move in early and pro rate the rent for a few days.
Step 11: There is a statement about the period of the lease.
A year or month-to-month apartment lease is most common.Some may be multi-year leases.You will want to consider the pros and cons of the different lease types when negotiating your agreement.You and the landlord have the right to negotiate a new lease at the end of the annual lease.The flexibility of being able to move out at the end of the year is what this provides.A multi-year lease is usually for two or three years.A multi-year lease may be more common in high end apartment complexes where residents are more stable.A month-to-month lease is the most flexible.As long as you finish out the month, you can give notice at almost any time.This may be the lease you want if your plans are not stable.A landlord can have you move out on short notice.Rent can be increased in a month-to-month lease by the landlord.Paragraph 3 is where the term of the lease is defined.The language isn't very clear if you read it closely.It is not clear if the lease is an annual one or a month-to-month one.An annual lease would be implied if the starting and ending dates are a year apart.
Step 12: The lease needs to be renewed.
You don't need to do anything to stay in a month-to-month lease.If you want to renew an annual lease or a multi-year lease, you need to read the contract carefully.You need to give your landlord at least 30 or 60 days notice before the lease expires.You and the landlord will have time to negotiate a new lease.If you notify the landlord that you're leaving, your lease will be renewed for an additional year.When the initial term of the lease ends, it will be a month-to-month lease in the sample rental agreement.Paragraph 3 is where this is defined.
Step 13: If you or your landlord want to end the lease early, you need to read the details.
Instructions should be contained in every lease.This applies to both the tenant and landlord.To find out how much notice you have to give if you want to leave, read the provisions.Tenants may not be allowed to be terminated early.This notice must be given in writing to the person at the address.These details should be paid attention to.Paragraph 20 addresses early termination in the sample rental agreement.Paragraph 16 is called "Termination".Paragraph 16 focuses on the tenant's departure from the unit at the end of the lease.
Step 14: Who is responsible for paying the utilities?
Paying for the utilities is one of the greatest expenses.This can be a great savings if the utilities are included in the rent.You need to make sure that the lease defines which utilities are included with the rent.Paragraph 9 of the sample rental agreement shows how to spell out the responsibilities for utility payments.If you are responsible for paying for certain utilities, you should find out if you need to use certain vendors or shop around for better prices.
Step 15: Make sure the lease is clear about the responsibilities.
You need to know which maintenance tasks are yours and which are the landlord's.The tenant will be responsible for minor repairs within the apartment, and the landlord will take care of more extensive work.If you have a question about what you're responsible for, you should ask in the lease.Most of the maintenance services will be provided by the Landlord according to the Sample Rental Agreement.The tenant is required to make repairs to minor damage and maintain the property in a neat and clean way.
Step 16: Any services that are included with the lease should be clearly described.
The landlord's description of the apartment should be included in the lease agreement.This could be anything from a laundry facility to a swimming pool.If something is important to you, make sure it's included in the lease.
Step 17: The amount of the security deposit should be agreed on.
The security deposit is a standard part of any lease agreement.The security deposit is usually equal to one month's rent for most leases.The landlord will keep the security deposit until you leave.The lease needs to explain when the landlord must return the security deposit to you and what the rules are for handling it in a secure account.Paragraph 6 defines the security deposit in the sample rental agreement.
Step 18: Understand the conditions that would allow your landlord to keep your security deposit.
When the landlord is allowed to keep your security deposit, the lease needs to contain provisions.This can be for damage to the apartment or nonpayment of rent.The landlord must give the tenant a written notice if he or she wants to keep any part of the security deposit.The security deposit can be kept in an interest-bearing account.If you don't see it in the lease agreement, ask your landlord about it.
Step 19: The return of your security deposit needs to be reviewed.
When you're entitled to receive your security deposit should be explained in the contract.A reasonable amount of time for the landlord to get in and inspect and clean behind you is usually after you leave the apartment.
Step 20: It's important that the lease contains your entire agreement.
The written lease agreement must include details that are important to you.You need to add them if they aren't included.If you and your landlord ever have a dispute about your lease and need to go to court, a judge will interpret the written lease as it is.Unless you can prove it, you won't be able to tell the judge.No matter how nice your landlord may be, you must have your agreement in writing.If you don't write it down, the landlord could change his mind and tell you to get rid of your dog after two months.
Step 21: For terms that aren't already included in the lease, add any documents or additional pages.
Smoking, subleasing, and allowing pets in the apartment are some of the issues that may be included.A lot of standard leases are just agreements.You and your landlord can attach additional agreements to personalize them.Attachions should be identified and referred to as part of the original lease if you do this.A common paragraph at the end of the lease may be labeled "Additional Agreements."This is where you will find the name of the documents.Paragraph 21 of the Sample Rental Agreement contains additional provisions.It would be a good idea to name any attachments, even in the margin of the page, and have both parties to the lease initial the addition.Attach the extra page or pages.
Step 22: Sign or date any pages.
Adding agreements must be signed by the parties to the original lease.Attachments should be dated with the same date as the lease agreement itself.The original agreement contains the same formality as the additions, so they should match the original as much as possible.