Understanding Apartment Lease Agreements from Dave Roberts's blog

When you sign an apartment lease agreement, it means that you’ve made an important commitment. That’s why you need to fully understand the terms and conditions of a lease before you make any decision.

A lease agreement legally binds you and your landlord to the rights and responsibilities written in the document. Below, you’ll get to explore the things you need to look out for before signing a lease agreement for two bedroom apartments in Fashion District.

Term of the Lease and Price of the Rent

The lease term and rent price are some of the first things that you have to scrutinize when you’re handed a lease agreement. The lease term outlines the entire duration of the lease. Typically, this ranges from 6 to 12 months.

When you’re reading the document, you have to make certain that the lease term goes with your preferences. You also need to inspect when you’ll be making your rent payments.

Another detail you need to scrutinize is the penalty for making late payments so that you don’t have issues with your landlord down the road.

Security Deposit and Other Fees

Another aspect of lease agreements that leads to conflicts when they’re not understood is the security deposit and additional fees. A security deposit is a refundable amount that’s paid to the landlord to indemnify them against potential damage to the apartment.

Typically, you’ll find the security deposit amount on the lease agreement and the terms for reimbursement. Also, you have to check for additional fees like application or parking fees. They have to be included in the lease agreement if your landlord mandates the payment.

Maintenance and Repair

Lease agreements have to come with maintenance and repair sections that outline which party will take on the responsibility. You need to understand the type of maintenance and repair tasks you’ll handle on your own and those that the landlord will cover.

For instance, tenants are generally responsible for minor tasks like replacing the light bulb while landlords and property managers fix key issues like plumbing.

The lease agreement has to extensively discuss the procedure for reporting maintenance requests and the time it would take for the issue to get attended to. This way, you ensure that you avoid disagreements with your landlord.

Pet Policy

If you have pets, you have to discuss with the landlord to ensure that there isn’t a no-pet policy in place. A lot of apartments that allow pets come with certain restrictions or fees. In the lease agreement, you’ll find rules regarding pets like breed restrictions, pet deposits, and pet fees.