What is a Lease?

A lease is an agreement between a landlord and a tenant that sets the expectations and length for the rental term. Your lease agreement may be written or oral (verbal).

Common topics that may come up in a lease include:

• Property or community rules

• The security deposit for the rental

• The length of the rental period (often a year or month-to-month)

• Which utilities the tenant and landlord are responsible for

• Where, when, and how to pay rent

• Pet policies and fees

• Guest policies and restrictions

• Maintenance requests

• What happens if the lease is broken early

Why Should I ask for a written lease?

A written lease is generally preferred, because it is more enforceable. Verbal leases are not always recognized by the court. Putting the lease in writing helps to protect both parties in the event of a disagreement.

Some landlords add extra conditions that are handwritten, typed into the lease, or otherwise attached to the standard lease agreement form. It is legal to add these requirements, as long as they comply with state and federal housing laws.

Why is it important to read the lease before signing?

As a renter, it is very important to read and understand a lease before you sign it. Once you sign the lease, it is binding - this means that violating the terms of the lease can have civil legal consequences.

Potential renters should also read through any building policies before signing a lease agreement. You may be expected to abide by community rules in addition to following your lease.

What Sorts of Records Should I Keep?

If you are a renter, you will need to keep a copy of certain important papers. These documents will be very helpful in the event of any disagreements with your property manager. Unfortunately, situations do sometimes come up that may prompt you or your landlord to take legal action – keeping good records will help to ensure that you are protected.

These are some of the records that you may wish to keep:

• A copy of your rental application

• The signed lease agreement

• Your rental condition checklist

• Photos of unit from when you moved in (and moved out)

• Rent receipts

• Utility bills or statements

• Copies of any written communication (including requests for repairs)

• Your renter’s insurance policy, if you have one