LEASE 101
Nothing contained on this page should be construed as legal advice and we recommendthat you consult with an attorney before you enter into any binding agreement such as a lease.
A lease is a binding contract between tenant and landlord that lists the obligations of both parties. The lease should be a written document, signed by both the landlord and the tenant. Oral agreements tend to result in misunderstandings and disagreements about their terms. Be sure to read all of the terms of the lease before signing.
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- What should be included?
- This information should be included for both the landlord and the tenat(s).
How long the lease lasts, the beginning and end date of the lease. The lease should also explain the consequences of a tenant who leaves before the end date of the lease.
Types of Terms:
- Fixed Term: Ends on a specific date unless renewed before the termination date.
- Self-extending: Renews itself until either party decides to cancel it.
- Month to Month Tenancy (Tenancy at Will): Agreement for a one-month period that automatically renews until terminated by one party.
Some leases automatically renew while others may only renew if certain steps are taken. Be sure to read the lease carefully to determine if and how your lease may be renewed. If the lease may be renewed, it should spell out how to go about requesting a renewal.
- If you are required to pay for utilities (water, electricity, cable, telephone) it should be indicated in the lease along with the estimated cost and how the cost will be calculated each month.
- If you are required to provide a security deposit, it should be clear how much that will be, and the terms for returning it at the close of your lease (you should not be charged for normal "wear and tear").
A Security Deposit is a sum of money (usually equal to one month's rent) paid by a tenant at the beginning of the lease term. It is separate from rent and is meant to protect the landlord in the event that there is unpaid rent or damage to the premises at the end of the lease term.
Tips:
- Take pictures when you move in or out to avoid any issues.
- If there are significant repairs that need to be made or appliances that do not work, make a list and have the landlord sign the list to ensure there is no dispute when you move out.
- The landlord must ensure that the home is in compliance (and stays in compliance) with all health and safety codes. They should also have a permit from the town to prove that the rental is legal and has been inspected. Please note that all rentals listed on our cite are permited.
- Be sure that the lease describes who is responsible for maintenance (such as mowing the lawn, snow removal...), and repairs (unless required due to the tenant's actions). Maintenance is usually the landlord's responsibility.
- This will explain how the parties must notify each other (e.g., via certifies mail) if formal notice is not required. It may also set forth how the landlord should notify you if they must enter the premises for inspections or repairs. Landlords should usually provide 24 hours notice before entering unless there is an emergency.
Guests:
Be sure that you and your potential landlord discuss the terms of extended guests. After all, you are signing a contract for one person, not numerous guests that you may wish to have stay with you.
Subletting:
If the landlord allows sublets (lease by a tenant to another person), it should be indicated in the lease. A sublet may require prior approval by the landlord. As part of that approval, the landlord may require information about the person you are subleasing to and may also require a security deposit from the sub-tenant. Please note that most of our local townships deem "rooms for rent" illegal.
- The amount of rent, when it is due, if there is a grace period, penalties of late rent and whether (and under what circumstances) it can be increased during the term of the lease. If you have roommates consider including language in the lease that each individual roommate is responsible for their share. That way, if there is a penalty for late payment, only the late payer will be responsible for the penalty.
- There may be other buildings, rooms, parking spaces and/or common areas that you may or may not have access to. A description of the area/property you are renting will avoid confusion and misunderstandings about such spaces. Furthermore, any furnishings that come with the rental should be listed, along with condition upon the start of the lease.
- The lease should state wether pets are allowed. If pets are allowed, the landlord may require additional security deposit to cover any damage the pet may cause.
- What should NOT be included?
- This is an agreement that puts all responsibility of wear and tear on the tenant of a rental. Do not agree to one because both parties should take responsibility for any negative effects of their own actions.
- A reputable landlord will be willing to make necessary repairs to the property rather than putting all of the responsibility on the tenant.
- Be sure that the lease you agree to does not have room for hidden fees. Costs should be clear and specific to varying circumstances.
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