After finding the perfect apartment spot, the very last step is to sign the lease for renting.
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After finding the perfect apartment spot, the very last step is to sign the lease for renting. While you might be excited to move in finally, it is important to carefully read over this document and ensure you know all of the essential terms. After all, a lease is a binding contract, and you have to be aware of all the conditions before you sign your name. Read on for a helpful overview of some standard lease terms all apartment renters should be aware of.
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Rent Due Dates and Grace Periods in the Lease
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The rent due date is the day of every month when your payment is due to your property owner or landlord. Most leases state the first day of each month as the due date for your rent. However, tenants should be ready to pay during the last week of the month to make sure their landlord gets the check or direct deposit on time. A few states allow a grace period, which is a defined time period a tenant has to pay to rent before they’re charged with a notice or late fee. This is common now, too, due to the current pandemic.
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Inspections
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Your lease might also include a section about annual or seasonal inspections of your property. These inspections usually consist of a yearly appliance service or visit for maintenance reasons. Read over this section and make a note on your calendar to know when you should expect these inspections.
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Overnight Guests and Friends in Your Lease
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Are you hosting guests and friends from out of town? Maybe a significant other that stays overnight for a couple of days in a row? If so, make sure to read the section about overnight guests in your lease as carefully as you can. A few lease agreements might be very strict regarding their guests and will not allow tenants to have a friend stay over more than a few nights in a row. This is a significant agreement in your apartment lease, and you should strongly consider how it will work with your current lifestyle.
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Decorating and Customization
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You know that most rental properties don’t allow tenants to paint the walls, but what about changing any light fixtures or hanging up shelves with nails? Your lease agreement should specifically state what is and isn’t allowed for decorating, so it is crucial to read over the terms as carefully as you can to make sure you don’t lose any cash from your security deposit.
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Come Home to Comfort and Convenience at Prescott Square Apartments
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Nestled in the wooded hills of Pikesville, yet just moments away from Baltimore, Reisterstown, Randallstown, Millford Mill, Gwynn Oak, Old Court, Owings Mills, Garrison, Lochearn, and Windsor Mill, Prescott Square Apartments offers spacious apartment living spaces for everyone! We offer two-bedroom homes with wall-to-wall carpeting/hardwood flooring, central A/C, access to oversized patios/balconies, and maintenance whenever you need it. To set up an appointment to take a look at our apartments, call us at 443-213-8584 or visit our website!
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The post Common Lease Terms that Every Apartment Renter Should Know appeared first on Prescott Square Apartments.
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