Renting 101: Understanding Your Lease Agreement

Picture By Dave Fleming     05/15/2014

This is a guide created to highlight some important parts of a lease agreement. Always seek legal counsel before signing any contract.

Be sure to read and understand your lease agreement in its entirety before signing.

Always consult legal counsel if you have any questions before signing any agreement.

The most important step during any rental process is the initial and final walk throughs. Always schedule a check-in and check-out appointment with the landlord to review the condition of the property and protect yourself from fraudulent charges. Document all issues and take pictures. If you notice anything after your walk through, be sure to inform manager immediately and amend the signed condition checklist.

Review Rent & Terms

Renter’s/Business insurance is always recommended if not required.

Review sublet terms.

Review lease renewal clauses and terms.

Review utilities, appliances, and services and which party is responsible for each.

Know what you can and can’t do – if your are not sure, seek written permission.

Floor maintenance

What can you be fined for and what might count against your security deposit return?

What are your responsibilities as tenant?

Be sure to read and understand your lease agreement in its entirety before signing.

Ask the landlord or manager if you have any questions or concerns while reviewing the lease agreement.

Always consult legal counsel before signing any contract.