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Checklist: Reviewing a Lease
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Here's a checklist of things you should look for in a lease before you sign it. A lease is a contract, so you will want to understand what it says and how it will affect you. And because a lease is a contract, you may be able to negotiate changes to it, even if it is a preprinted form. In fact, a preprinted form should be reviewed very carefully, because its provisions will probably greatly favor the landlord. You may want to ask a lawyer to review the lease with you before you sign it. An experienced lawyer who practices in this area will be able to point out illegal provisions, explain how certain provisions work, tell you if they are favorable or unfavorable to you, and suggest changes and additional terms.
- How long does the lease run? One year is typical, but some landlords rent month-to-month, which gives both the tenant and the landlord great flexibility. A month-to-month is ideal if you are living someplace for a short time, if you are in school and move home when school is not in session, or if your job requires you to move a lot.
- The lease might refer to you, the renter/tenant, as the "lessee" and the landlord as the "lessor." The space you are renting may be referred to as the "premises" or the "leased premises."
- The lease may prohibit you from using the premises for a home business.
- The lease may limit the number of people who can live on the premises.
- The lease may prohibit pets. Talk to the landlord about this after he or she has agreed to rent to you but before you sign the lease. You may be able to have your pet move in with you if the landlord agrees to drop that provision.
- Review the provisions in the lease relating to ending the tenancy. How much advance notice do you have to give to the landlord? If you don't give the notice on time, will the lease automatically be extended for another lease term?
FAQs
- What is an illegal lease?
- If the landlord provides laundry facilities in the building at the time that the tenant signs the lease but later discontinues this service, does this violate the lease?
- If the landlord loses the building to the bank by foreclosure for failure to pay the mortgage, is the tenant's lease still valid?
- If the tenant moves out before the expiration of the lease, is the lease terminated?
- How can the tenant terminate the legal obligation of the lease?
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