A lease contract is one of the essential documents that you will have to sign when renting a property. You want to know what this documents means to you and why you should sign it. It is also important you understand the details of the lease contract. Don’t sign it blindfolded because it could result in problems later on after you have rented the home. A property management company or landlord should explain to you what every clause in the lease contract means when you are seeking Phoenix homes for rent. Here are some details you expect to find in the lease contract document:
Length of Lease
This is simply the timeframe you will renting the property. It may be one year, six months, or any other duration you may agree with the landlord. Sometimes, if you will be staying in the property for longer, you may have to renew the lease after it expires, say after one year.
The Deposit Requirement
You will be asked to pay a deposit, which in most cases will be refunded when you move out. The way in which you pay the deposit may be negotiated with the property owner or the property management company. Sometimes, you may be required to pay the deposit before you occupy the home together with the rent for the first month. At other times, the deposit may be spread out to be paid in several months. The deposit may be held if you cause damage to the property.
Default on Payment
A lease document will state the consequences of not paying your rent. Usually, there is a grace period you are given to clear your rent dues after the due date. This period can stretch to about a week or ten days. If you don’t pay by that time, you need to know what actions may be taken against you.
There are many things included in the lease contract and the best thing you can do is ensure you understand every clause or statement. This way, you know your responsibilities and expectations when you take residency in Phoenix homes for rent. Follow us on Twitter.
Get the right rental home in Phoenix that suits your lifestyle and family needs.
