Two Tips for Signing Your First Apartment Lease

About Me
Starting a Business: Finding the Right Location

After years of saving and planning, I finally opened my own retail establishment. Before I could do so, I spent a lot of time looking at real estate options. With the help of a commercial property management firm, I did find a storefront with a great location, and enough room for my business. The agent at the firm helped me a lot by creating a profile of the type of commercial property I needed. We went over details such as lighting, display space, and even the number of electrical outlets. With the profile in hand, she found several properties that were worth considering. If you are setting up a new business and need space, let me explain why working with a property manager makes sense. I'll tell you more about how we worked together to find a place that met all my needs, including the rental cost.


Two Tips for Signing Your First Apartment Lease

29 June 2015
 Categories: Real Estate, Blog

The process of renting an apartment can be extremely stressful if you have never done it before. Due to this lack of experience, it can be easy for you to overlook some important details when it comes to your lease. These oversights can lead to expensive complications, but if you make it a point to follow these two tips, you should be less likely to make these oversights. 

Determine How the Landlord Manages Renewals and You Moving out of the Unit

The end of your lease will likely be a stressful time because it will be necessary to decide whether to move or renew with your current landlord. Unfortunately, this process can be further complicated by the end of lease policies that your landlord follows. For example, many apartments require individuals to give multiple months notice that they intend to vacate the property or they will be fined. This information is spelled out in the lease, and you will need to make sure that you have formally submitted your intent to move before the date in the lease or else you may find you are unable to move when you want. 

There may be times when you will need to temporarily continue living at your apartment following the end of your lease, and in these instances, signing a new lease may not be a practical option. Luckily, there are many landlords that allow their tenants to sign month-to-month or even daily agreements. This can give you much greater flexibility, but you will still be required to submit your intent to move within the specified timeframe. 

Carefully Read the Lease to Determine How Complaints Are Handled

Disputes with your neighbors will likely be an unavoidable part of apartment life if you live in one long enough, and it is important to understand how these complaints are handled. Many apartments have quiet times where residents are expected to keep their noise to a minimum. As a result, you may find it difficult to file a formal noise complaint with the apartment if the noise is occurring outside of this timeframe.

In addition to knowing the steps for filing complaints, reviewing this section of your lease will also give you an idea of what to expect if you are ever the subject of a complaint. Some apartments will issue fines, but others may simply start the eviction process after a set number of warnings. Due to these potential repercussions, it is critical for you to know how these incidents will be addressed. 

When you sign a lease for an apartment for rent, you will be entering into a legally binding contract, and it is important for you to avoid overlooking some common areas of this document. By knowing how the end of the lease will be managed and what happens when complaints are filed, you will be in a stronger position to make sure you avoid some routine issues over the course of your lease.