Lease agreements are binding. They’re a legal contract between you and your landlord, entitling you to the possession of the unit and stating the condition that you must pay rent to the landlord. Before you sign one, make sure you go over it, chapter and verse. That way, you won’t be in for any nasty surprises. Here goes:
Look for the big three
Double-check the dates on your lease as well as the amount of rent and your security deposit. It might seem basic, but you’ll be surprised at how many people overlook these details. It can cost you a lot of financial trouble in the end if you sign and realize the amount is pricier by an extra zero.
Early termination
One of the first things you’ll need to look into are the conditions for early termination. Is a pet a deal breaker? What happens if you violate a few lease conditions? By knowing what the grounds are for early termination, then you can do your level best to not to do them anymore. Know the penalties involved as well so you’re prepared, just in case.
Getting your security deposit back
Know how you can get back your security deposit. Some unscrupulous landlords try to get their hands on the deposit, citing major damage when the property only shows minimal signs of wear and tear, says Real Simple. Make sure the conditions are laid out specifically in the contract.
Rent increase
Make sure the contract forbids the landlord from making spontaneous raises to your rent. You might have to pay higher rental fees in the future over the years you live there, but at least it won’t happen in the course of 3 or 6 months after moving in.
So before you sign and hand over that lease, look out for these details to make sure you aren’t getting the short end of the stick.
