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If you're going to rent an apartment, you're going to have to sign a lease. If you've never rented an apartment before, you should know what a lease is and what to expect when you are presented with one. If you have rented before, it still can be a good idea to review what an apartment lease is all about. The more you understand about apartment leases, the better able you'll be to sign with peace of mind or even negotiate for a better deal.
An apartment lease is a legal document that outlines the agreement between a landlord and a tenant. It is an agreement by the renter to abide by whatever rules and conditions the landlord has for allowing the renter to reside in the apartment. Keep in mind that because it is the landlord who is preparing the apartment lease, it will probably favor the landlord. However, before you sign the lease, you have the right to look over it carefully and dispute any provision you wish. The landlord does not have to compromise, of course, but if he is motivated to rent the apartment to you, you will hopefully be able to come to some sort of agreement.
Once you have signed the lease, you cannot dispute any provisions in it, unless you determine something in the lease to be illegal or based on willful deception by the landlord. Do not accept that anything that you and the landlord agree to verbally that is not in the lease will be enforceable. Any provisions added to the lease must be agreed upon by both parties, and must be written into the lease and initialed by both parties. No matter how trustworthy the landlord seems, if you have an important requirement for entering into the apartment lease agreement, you must get it in writing.
An apartment lease can be for any amount of time, but most leases are typically for one year. This is considered an acceptable amount of time for both parties to benefit from the agreement. Leases can be longer or shorter depending on the situation. For example, a lease for a vacation rental may be for only a few months. Or, if someone agrees to a term of two years, the landlord may agree to give them a break on the rent. Whatever the length of the lease is, it should be clearly written into the apartment lease document so there is no confusion.
There are a number of things that must be in your apartment lease for it to be acceptable. Of course the names of whoever is renting the apartment and the renter must appear with their signatures and the date on which the lease becomes effective. If you are a young person, the landlord may ask a parent to co-sign. This is most common if the renter is under 18 (for example a college student looking to rent an apartment) or cannot show sufficient income to satisfy the landlord that the renter will be able to meet the rent obligations on his or her own. The lease agreement should also be very clear on the exact address of the property to be rented. You do not want to be the victim of a bait and switch scam in which you agree to rent a particular unit in an apartment building and then find yourself with a lease for a different unit that you have not seen or may not like as much.
You can expect the landlord to put in the apartment lease rules regarding expectations of your conduct in the building and on the property on which the building sits. This is often to protect you and the other residents of the building as much as it is to protect the landlord. These rules may include whether or not you can own pets in the building and what kinds of pets are allowed. The lease also may include noise regulations regarding how loud you can be and acceptable volume levels at different hours of the day or days of the week. There may be rules in the lease about maintenance and waste disposal. Often, the lease will also include rules about guests, regarding how long guests can stay for, where they can park, and how many guests you may have, for example. Remember, read the lease carefully before signing, and if there is anything you do not find acceptable, don't sign until you have discussed it.
The lease will probably also specify the details of the security deposit. All landlords require a security deposit against possible damage to the apartment. This amount is usually equal to about one month of rent. In some cases, when you move out, if the apartment is undamaged, the security deposit can be put towards the last month's rent. The lease will also specify how much rent is to be paid and how it will be paid.
Typically rent is paid in monthly installments. There will also probably be conditions regarding how late you can be with the rent before a fee is assessed. The lease should also make it clear who pays the utilities. In most cases you will be expected to pay your own phone, gas, and electric bills. If you come to an agreement with the landlord regarding payment of these services, it should be explicitly stated in the lease. If you are paying additional rent in exchange for utilities, make sure that the additional rent is a fair amount relative to the utility services you use.
Your apartment lease may also include a provision for renewal for an additional year. Depending on the circumstances, the landlord may be happy to renew your lease year after year, as long as you wish to stay in the apartment. You should make sure you know what your lease says in this regard, however, so that you are not surprised when your lease expires. It's advisable to discuss your lease renewal with the landlord well in advance of its expiration.
If you are planning to break your apartment lease, you should give your landlord a couple of months' worth of notice. In fact, this is a good practice even if you will be leaving when your lease expires. In some cases, your landlord may be happy to allow you out of your lease, because this will enable him to charge more rent to the next tenant that comes along. If the market is bad and he anticipates having trouble replacing you, he may decline to let you out of the lease. In this case, if you break the lease, you should expect to pay a fine, the amount of which may vary depending on the state and the circumstances under which you are planning to break the lease. Unless you already have a new apartment lined up, if you only have a month or two left to go on the lease and you expect the landlord may object, it might be a good idea to stick it out and avoid any complications.