Signing A Rental Property Lease: What Do You Need To Know

A rental property lease is an important document signed before a tenant can rent a property from a landlord. It is usually signed when the tenant intends to rent a property for a longer period of time, usually for a minimum period extending to 12 months. A tenant may face unexpected inconveniences because of negligence while reading the actual lease agreement. Here are a few relevant pointers to keep in mind while signing a rental lease:

The Rigidity or the Flexibility of the Terms

To avoid unexpected surprises, it is of utmost importance that you are clear about the specific nature of the terms of your lease. Certain leases are more flexible than others while some of them are not. For example, a rental property lease may be very strict regarding a potential lease break and you could be held legally responsible for exiting the property before the term period ends. In most cases, it should be understood that you need to inhabit your rented property until the end of the term period.

The Extent of Your Rights

It is certainly important to inquire about the extent of control that you have over the specific terms and conditions of your lease agreement. You do have the right to negotiate the price at which the property is offered to you, for instance. Furthermore, it would be useful to have clarity about the extent of control you have over the property if you plan to customize it to your specific needs.

Pet Policy

This is only going to be relevant for you if you have pets. Certain landlords do not allow pets living in their property at all. Hence, you should seek clarity regarding this matter while signing the lease agreement

Responsibility for Damages

When you sign a lease agreement, it should be understood that you are responsible for any damages caused during your tenancy. These damages could be to the possessions of the landlord, or to the structure of the property itself. This might even include the damage that wasn’t caused by you. Hence, be sure you are on the same page about the pre-existing condition of the property before signing the agreement.

Additional Charges May Apply

Your monthly rent may or may not include parking, hot water, and the gym charges. To avoid unexpected costs, it is recommended to verify the extent of coverage on the lease.

Signing a rental property lease is laced with potential financial risks. It would be best to have a property management expert such as Rental Advisors by your side. They not only help you find respectable landlords but also help you with the technicalities that a lease would present. Surely their listings of available rental properties could provide you with an easier experience in finding your next rental property.