It is surprising that when many students sit down to discuss Landlord/Tenant matters they already have all their answers in black and white in front of them. Look for a section of the lease that discusses assignments and subleases. Oftentimes a tenant may terminate the lease early if they find a suitable replacement. This normally requires permission from the landlord and approval of the replacement. Additionally, the cost of advertising and background checks fall on the tenant but this makes sense. To find you the landlord probably paid for advertising, for background checks, and spent the time to get you moved in. If you have had a change in heart it doesn't seem right that the landlord should have to pay again.
While there are many rules about what constitutes a contract, as long as the formation and content is morally and ethically sound, the terms of the lease apply and control. Here are some common terms that everyone should know about their lease.
There are a few common pitfalls to be on the lookout for.
TERMS OF TERMINATION
A typical residential lease terminates naturally after a year without additional efforts. However, there are two problems that students commonly encounter regarding the termination. ● The first is that they don’t plan early enough in advance to extend their lease which often occurs six months in advance. ● The second is that they intend to terminate the lease but the paperwork requires advance notice.
SECURITY DEPOSIT
A landlord has thirty days from the termination of a lease to provide a written list of reductions from the security deposit and any amount remaining. There are two steps that I advise every tenant to take. ● Keys returned and a forwarding address must be provided to the landlord upon termination of the lease in writing. ● Photographic evidence of the condition of the leasehold premise to refute improperly withheld escrowed funds.
While there are many rules about what constitutes a contract, as long as the formation and content is morally and ethically sound, the terms of the lease apply and control. Here are some common terms that everyone should know about their lease.
- PARTIES
- LENGTH OF TENANCY
- SECURITY DEPOSIT / LAST MONTH
- RENT
- UTILITIES
- REPAIR / MAINTENANCE
- TERMINATION OF LEASE
There are a few common pitfalls to be on the lookout for.
TERMS OF TERMINATION
A typical residential lease terminates naturally after a year without additional efforts. However, there are two problems that students commonly encounter regarding the termination. ● The first is that they don’t plan early enough in advance to extend their lease which often occurs six months in advance. ● The second is that they intend to terminate the lease but the paperwork requires advance notice.
SECURITY DEPOSIT
A landlord has thirty days from the termination of a lease to provide a written list of reductions from the security deposit and any amount remaining. There are two steps that I advise every tenant to take. ● Keys returned and a forwarding address must be provided to the landlord upon termination of the lease in writing. ● Photographic evidence of the condition of the leasehold premise to refute improperly withheld escrowed funds.