Finding an ideal apartment can be tedious. From comparing amenities, location, and prices, it’s no doubt that the process is time-consuming. That’s not all, though! The next step would be putting this in writing through a lease agreement. A lease protects the rights of tenants and landlords alike, and you want to understand all the details before signing.
Here’s how to go about it:
- Know the lease duration
Mostly a lease lasts 12 months, but some landlords offer lease terms up to 6 months and a maximum of 18 months. Inquire whether the lease agreement is flexible and the terms for ease extension.
- Read all the clauses
Don’t rush to sign something because it looks enticing. Go through every detail and understand all the clauses before appending your signature. Have an attorney, friend, or family member accompany you; they will help review the document. A lawyer will help you determine clauses in the lease document that can violate your rights.
Once you understand everything, go into the fine details in the clauses. These may be for example;
- An additional charge if a guest stays for more than two days.
- Sublet terms
- Cost of repairs
- Terms of exiting the lease
- Get writing!
When evaluating an apartment lease, list down everything, and keep proper records. Agree on the terms and don’t rely on word of mouth. For instance, if leasing the BRIO at the Rose Apartments in Broken Arrow, the lease should be clear on issues like;
- All fees, including deposits.
- The rent amount and the due date
- Expenses covered by the landlord
- Penalty terms for late payments
- Pet policy
- Discuss the acceptable changes to the unit
Most landlords prohibit changes to the interiors. Negotiate this and agree on the terms. If you want to paint, change the carpet or install a wood laminate, know who covers the cost. Also, know where the landlord or the property manager lives. This comes in handy in case of issues that need to be resolved. Review how often the landlord visits the apartment.
- Get details about the security deposit.
Think of moving out before moving in. This is how it goes; you’ll likely pay a security deposit on top of the monthly rent. Before signing the lease, tour the property with the landlord, identify any faults, and take photos. Be on the lookout for stained carpets, doors that can’t close, and if the appliances are functional. Otherwise, you may be blamed for the damages when shifting.
- Get exact details about appliance maintenance
The lease should clearly state who is responsible for maintaining the appliances. These range from refrigerators, dryers, washing machines, and more. The general rule is that if your landlord supplies the devices, they should be responsible for the repairs.
Most people consider leasing as the best option for buying their own homes. Before you sign the lease agreement, walk through the apartment once more, and pay attention to those tiny details. Examine all areas for damages, and report these in writing. Once satisfied, append your signature, and enjoy living in your new apartment.