Four Elements to Look for in Your Rental Home Lease

Whether you are signing an apartment lease for the first time or it’s been a few years since you were a new tenant, your lease should protect you as well as the owner. A lease is an important legal document and you should carefully read over it, making sure it clearly outlines the terms and conditions of your tenancy. Before you sign on the dotted line, these are the elements you should look for before agreeing to a new rental home.

Correct Details

Make sure the terms of the lease are complete and correct. The document should include the monthly rent amount, the address of the property, the start and end term of the lease, the date rent is due, and the amount of the security deposit along with the account number where the deposit will be held in escrow. Late fees should also be indicated along with the utilities and who is responsible for paying these monthly bills.

Documentation of Existing Damage

If your unit is not in perfect condition, your lease should detail any existing damage. Take photos and save this information for your records. This prevents the landlord from holding your security deposit for things that needed to be fixed before you took occupancy.

Rules and Regulations

The lease should spell out tenant and landlord rules and responsibilities. Make sure it clearly states the number of occupants allowed, whether you may have pets, whether the unit can be used for a home business, if subletting is allowed, and other relevant stipulations of your tenancy. Be aware of language that allows the property manager or landlord to enter your unit without proper notice, as well as clauses placing a lien on your personal property for unit damage or failure to pay rent.

Renewal Policies

Some leases automatically renew if you don’t opt out within a certain time, so make sure the lease notes whether such a policy applies to your unit. Your landlord may also indicate a percentage or fixed amount by which the rent will increase for subsequent terms.

HND Realty LLC is your source for spacious rental homes in the Nashville area. Call 615-297-7711 or complete our online form to talk to our agents about available rental properties in your desired neighborhood and price range.

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