When people are ready to buy or rent a house, many people are very quick to sign the lease. However, before you sign your john handcock, there are some things which you must do and must look at so that you do not get a raw deal in the lease contact. Some people hire a trained professional to look at the lease but if you choose not to do so, here are some good tips and suggestions for you to do before you sign anything.
The first step is to ask the landlord or seller for a window of time before you sign anything. Never sign the lease on the spot. You want to make sure that you look over the lease carefully several times and that one of your knowledgeable friends looks over the lease before you sign it and put down a deposit.
Every lease should have basic information on it. Make sure that it states what day you move into the house and how long the lease is before it expires. If you are renting a house, also make sure that the landlord gives you at least a 24 hours notice before he can enter the house.
Repairs are also a major concern. Make sure that you write down all of the repairs that you want made on the house or the lease states that all repairs on the house will be made to your satisfaction before you move into the house. Make sure that these repairs are only temporary things that can be fixed and that there aren’t any structural damage to the home from the roof or basement. Leaking water damage is a major problem and you should make the landlord commit to a huge structural repairs before you sign the lease.
In terms of money, make sure that you know the amount of the lease deposit that you are putting down. I strongly suggest cutting a check and making a copy of that check so that you leave a paper trail. The last thing you want to do is give the person cash and let the scam you or claim that you never paid them the security deposit. For the security deposit, it is very important that you know what it is going to be used for and how long it will be kept. For some landlords, they will use the security deposit to pay for any damages that you make on the house such as broken windows, etc. If they do use the security deposit to pay for damages, some landlords will make you repay in full the total amount of the security deposit. For example, if you put down a $1000 security deposit and you break and window that costs the landlord $400 to repair, you might have to pay back the landlord $600 so that he still keeps the $1000 security deposit until you move out of the house when the lease expires.
Another important section to look at if you are leasing a home is appliances. Some of the language in the contract concerning the appliances might be a bit cloudy. You want to make sure that the lease specifically states in clear writing that if an appliances breaks through old age and no fault of your own, the landlord will replaces that appliance. For example, if the refrigerator breaks if it comes with the house, then you don’t want to pay $600 for a new refrigerator. However, if furniture breaks, you are responsible for it if it breaks while you are living in the house.
If you are renting a home, the landlord might also have specific rules about guests sleeping over or parties that you can have in your house. Make sure that even the smallest of details are negotiated over and don’t be afraid to speak up.
I will leave you with this final detail. Almost any good landlord will say that he has a bunch of other people looking at the house and that they are close to buying it before you sign the lease. This is done to pressure you to buy the house faster. Make sure that you take your time before you sign the lease and that everything meets to your approval. Most of the time, there aren’t any other customers looking at that same house and even if they are they are probably seeing a few other houses and might not even like this particular house that you want to buy or lease. Therefore, don’t be pressured by the landlord to sign the lease.
