5 Things to Look for in a Residential Lease

If you’re moving into a new residence, you need to sign a contract to make it legal. The contract usually comes in the form of a residential lease. However, not all leases are the same. Find out what five things you should look for in your residential lease agreement.

1. The Type of Agreement

Is the contract you’re signing a rental agreement or a lease? Although most people use the term interchangeably, there is a difference between the two.

Typically, a rental agreement is for a month-to-month rental. Your agreement renews automatically until you or your landlord give notice of the end of the contract. The contract usually stipulates the length of the required notice. With this type of agreement, your landlord has the ability to change the terms on a regular basis. They can increase your rent, and a ban on pets, or make other changes. Of course, they still need to comply with rent control laws.

A lease is for a longer period of time. Usually, it is for a period of at least six months. Once you sign the lease agreement, you’re tied to the terms. The landlord cannot change the terms. But, if you want to break the lease, you risk losing a great deal of money.

2. Pet Restrictions

If you have a pet, finding a rental can be difficult. Many landlords have policies that ban pets. Others allow pets, but there are restrictions. If you have a dog or cat, it’s crucial to understand the restrictions of the pet policy.

For instance, the policy could stipulate that dogs over 30 pounds are not allowed. You need to be sure that your pet meets those restrictions, or you risk an eviction.

3. How You Pay

Before you sign your lease, you should make sure it details how you must pay your rent. In addition to giving you a clear rent date, it should also include how you need to make the payments.

It should include information about the rental deposit, the security deposit, and which payment methods are accepted. Finally, it should also contain information regarding the payment of your bills or other utilities.

4. The End of Your Lease Details

Your lease agreement should have information about what happens at the end of the lease. Find out whether the lease ends or automatically renews. Furthermore, you should consider notice periods for terminating the lease. As your lease expiration approaches, you might need to give your landlord a month or more of notice.

It’s also important to consider what happens if you want to end your lease early. In same cases, you are allowed to terminate if you give a certain amount of notice and pay a specific sum of money. You should familiarize yourself with the termination policy in the event that you need to break your lease.

5. Whether or Not You Need to Negotiate

Some leases have unfair terms. If you don’t agree with any of the terms in your lease, you should consider working with a real estate attorney in Pittsburgh. With the help of an attorney, you can negotiate fair terms. You might be able to get a smaller security deposit or a better pet policy.

After you sign the papers, you’re stuck with the terms of your lease. It’s critical that you understand the terms of your lease and you are comfortable with them.