Monday, March 2, 2015

Leasing Agreements 101: A Simple Guide for Tenants

A lease agreement is a formal document that contains all arrangements between the landlord and the tenant. Both the landlord and the tenant’s rights and responsibilities can be found on that agreement. Both parties should be knowledgeable about the lease as it makes the tenant legally responsible for all terms agreed upon.

Leasing Terms Included:

• Occupancy Limits - this term states how many individuals and children are allowed in each rental unit. There are some cases in which the tenant allows others to rent a bed space in the unit. This term gives the landlord the right to evict other people who moved in without permission.

• Security Deposits and Fees – The rent amount and the schedule of any advanced payments are all under the discretion of the landlord. Some prefer security deposits, while the others don’t. Before moving in, all details of the payments should be clear between the tenant and the landlord.

• Property Maintenance – Oftentimes, problems arise when the tenants neglect the integrity and the cleanliness of the unit. This portion of the agreement states the tenant’s responsibilities to keep the unit clean and sanitary. It also tells about the payments to the landlord should there be damages on the property.

Tenants are also covered under the Tenant Bill of Rights. Leasing Agreements and Tenant Rights allow both parties to be in a win-win situation. Finding a good landlord is tough when you planning to rent a house or a flat. Call Finlay Brewer’s estate agents for great deals on property lettings. A great landlord is truly a bonus.

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