Like the stripes on a zebra, no two apartment leases are identical. In fact, they can look very different—from one page to several pages of legalese—depending on the type of apartment, length of lease and landlord. But all apartment leases serve the same purpose: they lay out the agreements and obligations between you and the landlord.
Once signed, this document becomes a legally binding contract. Though we often click I agree to Terms of Service on websites that we don't read, it's not a good idea to sign a lease without knowing what it says. From specifying the penalties of breaking a lease to whether you can install a dishwasher, the lease will spell out what you can and can't do as a renter—and what a landlord can and can't do as well. Below is a list of what you can expect in a typical apartment lease.
The Essentials
Apartment leases must follow local rental laws, which govern tenants' and landlords' rights, such as security deposit limits, the eviction process and consequences of breaking the lease. But no lease is complete without these basic pieces of information. When you get a copy of the lease, make sure the following is stated:
- Names of all prospective tenants. The lease binds only those whose names are listed. If you're living with roommates, make sure they're included on the lease. You don't want to be stuck taking responsibility for everyone, in case something should happen.
- Address of the apartment being rented. This means the street address and the apartment number.
- The landlord's information. Whether you're renting from a single person or a property management company, the lease should state who the landlord is.
- Rent. The lease should indicate the amount of rent and how often it is paid (weekly, monthly, etc.).
- Security deposit. The amount of the security deposit should be stated.
- Start date and end date. This represents the duration of the lease, which means the agreement is only active for this period.
- For leases —
the length of time that the lease will be active, specified as the start and end date. This means you're obliged to pay rent and the landlord cannot rent this unit out to another during this period. In fact, according to Judy Tremore, author of The Everything Landlording Book, the only way for the landlord to kick you out is to evict you.
- For month-to-month rental agreements — the agreement should stipulate that the period is month-to-month and indicate how much notice must be given before moving out. Should the landlord decide to rent to someone else, he or she must also give this same notice to you.
- Everyone's Signatures. All the tenants and the landlord must sign the lease. The lease is not valid if only one party signs.
Read about additional clauses that may be included in the lease.
| 