Leases – What to Look For

When you’ve looked at an apartment and decided that you’d like to take it, you usually sit down with the landlord or management company and go over the lease. Since it is a legal and binding document, you should read it and ask questions before you sign. If you don’t understand something, ask for clarification.

Don’t make assumptions – if you expect something from your landlord, it needs to be in writing. Sometimes people can pressure you into signing something without even saying a word. They may act impatient while you’re trying to read or tell you its pretty standard and nothing is out of the ordinary.

Ignore them and read. When you’ve signed the lease, you pay the security deposit and first month’s rent. Don’t hand over any money unless you have a signed copy of the lease. It has to be signed by both you and the landlord. If your landlord is casual about it and says he’ll get to the lease later, tell him you’ll give him the check later, too. Do not pay without having the lease signed and a copy in your possession. Some other things to watch out for in the lease are:

• Rent due date and amount. This needs to be written in the lease. Also look for any penalties for a late rent payment. These are usually fees. Make sure you’re clear on where to send or drop off the check.

• How to break the lease, if necessary. Most leases give you the option of subletting or assigning the lease to someone else. It’s nice to have some options for getting out of your lease, and you should know about them before you sign.

• Fees. Some landlords charge extra fees for pets, keys, parking permits, etc. They may also charge if you lock yourself out and they have to come let you in or if they’re called to your building after a certain time of day. Know what you’re paying for – and know what to avoid having to pay for.

Getting an apartment – especially your first one – is a great experience. Read your lease, ask questions, and make sure you know what you’re paying for and getting in return.

Article Source: http://www.realestatepropertyarticles.com.

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