Leases and Rental Agreements
Many people sign a lease rental agreement without much thought, assuming that the lease was reviewed by an lawyer, is non-negotiable, and is legally binding.
Needless to say, most landlord-tenant lease agreements are reviewed the landlord's lawyer, who has designed it to protect the interests of the landlord and to make sure it is legally binding on the tenant.
Before signing a lease rental agreement, it is always best to have it reviewed by your own lawyer. An lawyer who is working for the tenant will make sure that the agreement addresses the tenant's rights in the event that something goes wrong.
Changes in circumstances
When you first enter a lease rental agreement or apartment lease, the terms may seem alright to you. Leases usually define a specific term for the lease and set forth the amount of rent and the security deposit required.
When a landlord-tenant lease is prepared for the landlord, it usually does not protect the tenant or offer the tenant an option to get out of the lease in the event of unforeseen circumstances.
You may sign the lease rental agreement with good intentions, thinking that you can live there for the term of the lease – no problem. But what if you lose your job, get transferred, get divorced, your spouse dies, or you run into problems with your roommate?
If the apartment lease or lease rental agreement does not address such instances, the landlord can actually get a judgment against you for the full term of the lease, even if you move.
Security Deposits
Security deposits are usually taken to cover damages that may occur during your tenancy. There may be terms written into the lease rental agreement concerning the return of the deposit, and it may say that the deposit can or cannot be applied to unpaid lease payments.
In some states, it is required that the landlord return the deposit in a certain number of days with a statement for deductions. Whether or not the applicable security deposit laws are set forth in your lease, the landlord is bound by them.
Sometimes the landlord will try to deduct the costs of normal and wear from the deposit, and depending on the state you live in, this may be against the law. In such cases, you need an lawyer to make things clear to you and the landlord.
Occasionally landlords attempt to charge you for damages that already existed when you moved in. An lawyer can help you prepare documentation of preexisting damages that will prevent this from occurring before you sign the lease rental agreement.
In most states, the amount that can be required as a security deposit is limited by law. In reviewing the lease rental agreement, an lawyer can make sure that the amount of the deposit is in compliance with the law.
For more information about Landlord-Tenant law, security deposits, and eviction laws, please go to our pages on Property Law, Rental Law, Renters Rights, and Security Deposits.
The Difference between a Rental Agreement and a Lease Agreement
A rental agreement is usually a month-to-month agreement. It may contain terms for ending the agreement, like a 30 day notice. A lease agreement is usually for a longer, preset term – for instance, for a year, two years or five years. A good lease agreement provides a method for either party to end the lease under certain circumstances.
If you are a tenant, the rental agreement is most advantageous because you are only committed to one month at time. If you decide to move, or your circumstances change, your obligations are limited. The disadvantage is that the landlord can also require you move before you are ready.
Most landlords prefer a lease agreement because it secures the rental for a specified time, thus reducing vacancies. However, a longer term lease can be a problem if the landlord decides to sell the property or to use the property in another manner.
When signing a lease agreement, an apartment lease or a rental agreement, it is best to have your own lawyer review the contract and make sure that your interests are covered, whether you are a tenant or a landlord. Your interests will be protected throughout the lease, even if things don't go as planned.