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Information About Your Lease

February 09, 2012 | Comments: 0 | Views: 151

No one can ever be fully prepared for what is going to be in their lease since it does change for each person, establishment, and situation. However, that doesn't mean you can't learn about the basics of a lease and what it means. Having this information can help you for the next time you decide to rent a home, apartment, condo, or townhome. Learn what some of the terms mean and a little bit of what you may be able to expect what might be in your next lease.

The first thing that we should get out of the way, make sure and read your lease. Don't just blindly sign your lease agreement. Sometimes, people get so excited about having their new place and new life that may be coming with it that they just smile and nod and sign on the dotted line. Well, this can get you into some stick situations. If you don't read your lease, you may not know that the blue wall you just painted is actually a violation of your agreement.

There are a few words and phrases that you may want to be familiar with that will probably show up in your rental agreement. The Lessee is you, the tenant, and the Lessor is the landlord. These two terms will show up quite often since it is about the people involved in the lease. To Default means to forfeit or lose by omission and failing to perform legal obligations, normally legal obligations that are outlined in your lease. The term demised premise normally refers to the place or property that is being rented. Another important term is eviction. Just about everyone knows what it means to be evicted, but it is defined as an action by a lessor that forces or compels the lessee to leave the premises and is done so legally.

There will be some general things in your lease that you should make sure you understand before signing your rental agreement. The first thing is knowing the exact location and parameters that is being leased. This means if you are renting an apartment and they include a parking spot, you know which parking spot and apartment. Also, know who is renting it and who can and cannot be a tenant. Some landlords may not need a second tenant to sign a lease or co-sign your lease in order for them to still live in the property outlined by your rental agreement. It may also require that if you have someone who lives there longer than a set amount of days, then they will have to agree to the lease as well. If you have pets, you want to make sure that they are covered in the lease as well and if there is a limit to how many, type of dog or weight range, or if there are any fees like a pet deposit or an extra price on your monthly rent.

Go through your lease page by page to be sure that you understand all of the terms and conditions before you sign the agreement. You may also think about making a copy of the lease so that you have a record of it as well. If for some reason, you do not feel comfortable signing the lease or just want someone to look it over for you, talk to a lawyer who you trust to make sure you are getting a good deal and that there aren't any strange terms or conditions of your lease.

Nicola Stevens

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