3 Things to Know About a Rental Property Lease

When you are dealing with a rental property lease there are several things that you will want to make sure that you understand. A rental property lease is a binding agreement that can tie you to a property for several months. Therefore, you will want to make sure that everything is clear before you sign on the dotted line. Here are some things that you will need to be aware of. 

1. Length of Lease

Make sure that you understand exactly how long the lease is for. A common lease term is 12 months for many properties. If you think that you are signing a six month lease and it turns out to be a 12 month lease, you could find yourself in trouble. 

2. Deposits

The security deposit is another important issue that you will want to understand completely. In some cases, the deposit associated with the lease can be a large amount of money. Make sure that you know how much it is and how likely it is that you can get it back.

3. Special Requirements

Some leases require that you maintain the property that you are living in. You will want to make sure that it specifies exactly which party will do what. 

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