Sorting Through Lease Documents

Lease documents vary in size and complexity, depending on the landlord. The general purpose of lease documents are to set forth laws and regulations designed to protect the landlord, and to a lesser extent, the tenant. When reading the lease documents, there are some important pieces of information you should pay special attention to.

Things to Look for in Lease Documents

Pay close attention to the specifications on the rent payment policy. Most lease documents require you to pay on the first of each month and no later than the third. If the payment is not made by the third, then late charges will be applied to the lease. In some situations, the date range may be shorter or longer. Know what your apartment’s policies are, so you don’t make a mistake and end up paying a late fee.

Early termination policies are also important to note. Nearly all apartments utilize different early termination policies. Some require you to pay the full lease payment for the remainder of the lease term, even if you move out early. Others allow you to leave early providing you give a 30 day notice. Knowing this information is crucial, as you need to know if the lease will allow you to move out early if the need arises. This can be especially useful for people who may be required to move for work on short notice.

Check for policies surrounding services, especially those which are covered in the monthly rent. Many apartments will offer certain services, such as water or gas, as part of the lease. Many apartments that offer these in the lease have limits. If the limits are broken, it can lead to additional expenses. These policies will also outline rule surrounding additional features provided by the apartment, including things such as pools, parks, and exercise rooms.

Seek a Second Pair of Eyes

If possible, use a lawyer to read over the lease documents. Most lease documents are written using wording and a structure which can be difficult to understand. Most lease documents will follow the law appropriately, but some less reputable leasing agents and landlords may attempt to put in clauses which fall outside of the law. Having a lawyer read over the contract will help to ensure that you are fully informed about what is contained in the lease documents, and it will verify that everything contained within them is legal.

Read the Lease Carefully

Remember, a lease agreement is a legally binding contract which you cannot break without consequences. Take the time to read the lease thoroughly and fully understand everything that is contained within the lease. If necessary, request a copy of the lease to read over at your convenience before you sign the lease. This will allow you the chance to fully read and understand the lease, without any extra input from the landlord or leasing agent. It is also important to remember that the leasing agent or landlord is not required to explain the lease to you, there any explanations they give you may not be accurate.