Apartment Lease Agreement Explained

Lease agreement signing

Reading contracts or important documents can get confusing. Most times, people mistake scanning and signing the document without understanding what they are signing. Unfortunately, this is a terms and conditions legally enforceable agreement that may land you in a wrong spot if not followed. Don’t get stuck in a predicament; take your time to read, understand, and ask questions about any part of the document. 

As a tenant signing an agreement, here are some essential things that you should expect and look for in the document. 

  • All lease agreements should include basic information and data about the property. Basic information can include:
    • The property’s physical location and non-fixed assets (fridges, microwave, dryers, dishwasher, oven), helping protect the tenant and the landlord when the lease comes to an end. 

 Couple signing a rental agreement

  • The lease agreement must include the names of all tenants living in the property. 
  • Duration of the lease. The duration of the lease is when the lease will start and end. This includes month-to-month, annual, or whichever length the tenant and landlord have agreed upon 
  • The lease agreement must include when the lease is renewed. A most month-to-month lease usually renews automatically until the tenant or landlord decides to stop renewal. The lease renewal will also be when the notice should be given. 
  • Security and deposit fees must be clearly stated in the agreement. Any amount that the tenant needs to make, including any other fees, will be noticed on the agreement. 

 


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