Understanding Your Lease
Your lease is the contract between you, your roommates, and your landlord; its terms and permissions will dictate your relationship with your landlord and your leasing experience. It should explicitly delineate the different responsibilities that you and your landlord will have in taking care of the property you are renting. It is extremely important you and your roommates take the time to carefully examine the entire lease, pausing to ask questions about any terms that seem unclear or contrary to your impressions. What pieces of information should you be looking for? The following list should give you a good idea.
Things to Know Before Signing Your Lease
- When is your rent due?
- Is there a grace period for that deadline and what are the late fees if you miss the deadline?
- To whom do you send the rent and what methods of payment are accepted?
- Whose job is it to mow the grass, keep the weeds at a minimum, rake the leaves, and keep the sidewalks and steps clear of snow and ice?
- What is the process for submitting maintenance requests and how quickly are those requests handled?
- What structural or aesthetic modifications are you permitted to make to your rental property?
- What is the fee for those modifications and are you expected to return the apartment to pre-lease conditions upon move-out?
- Where can you obtain another key should you lose yours or lock yourself out of your apartment and is there a fee for a replacement key?
- What type of notice is required if the landlord accesses your apartment when you are not present?
These are just a few of the questions you will want answered before you sign your lease. Remember, until you physically sign the lease document, you are under no obligation to follow through with the terms of the contract; if you are not comfortable with the terms of the leasing agreement, you can walk away without fear of penalty. It is important to also remember what is required on behalf of your property manager in order for you to live in the space you are leasing, such as possessing a current BBL.