What to Look for in any Lease Before You Sign

So, you’ve found the ideal apartment or house, and you are prepared to sign the lease. Not so fast! At the time you sign a lease you obligate yourself to ultimately make the rental payments for the period of the lease, usually one year. So, let’s say the rent is $1,000 per month. Once you sign a lease, you’re obligating yourself to pay the landlord $12,000! You don’t need to inhabit the house or apartment, if you don’t like it. But you will absolutely have to pay the lease. There’s certainly no getting away from it. So, it’s smart to be certain this is a property you prefer to reside in for the lease period.

Your first move you should do is to inspect the property or house carefully. If you do not know much about building, then you definitely should get a friend, or the friend of a friend, to view the home or property for you. You want a record of what doesn’t work, and what shape things are in. It’s easy in this digital age to take pictures. So, why not get a camera, or even your cell phone, and take pictures of the whole place? This way once the lease is up and you are in a position to move, you could show the owner that you weren’t the cause of the dent in the side of the stove.

Another thing you need to be cognizant of is the number and thickness of common walls. Common walls are the type that separate you from the other tenants in the building. The more common walls you have, the easier it will be to hear the guys or gals next door. Common walls usually are thinner and transmit more sound in older buildings, so be especially cognizant of that.

Ensure that you understand how the amenities of the house or property are used. If it’s a quadruplex, for instance, be sure that you know who has the rights to the garage, if any, and the yard. Also, exactly what is the deal with the laundry? If this is a more recent, more pricey building, then how about the gym and concierge services? Do they come included, or do you have to pay more?

Always you need to know if you can shoulder the rent! The scariest thing is to find a great place and then arrive at hating it in the few months since the rent is killing you. A common percentage is no more than 30% of your take home pay. That’s your hard earned money after taxes. If the rent is a little too steep, ask the landlord if they’ll lower it, especially if you take on some of the responsibilities around the property-say, mowing the yard, clearing up, doing repair work, showing the area to prospective tenants, etc.

Lee Cole has been involved in real estate since the eighties, both in sales and rentals. Take a look at these informative sites for more information about Gwinnett property management and Duluth homes for rent