Signing a lease agreement is a big decision. You will likely legally be liable for following the lease agreement for a year, depending on the terms of the agreement. It is important to obtain information regarding the lease agreement before you sign it to make sure that you understand everything involved in the agreement. Ask your landlord as many questions as necessary to ensure that you can confidently sign the lease agreement.
1. When is Rent Due?
It is important to know when the rent is due to ensure that you are able to pay it on time. You should also consult with your landlord regarding the total amount of rent, as well as the method in which you are expected to pay the rent. It is similarly important to ask regarding any late fees or grace periods that may apply.
2. What Happens if you Need to Break the Lease?
There are some things that can’t be controlled. Some situations may require you to break the lease. Due to this, it is important to find out what the process will be if you break the lease.
3. Who is Responsible for what Maintenance or Repairs?
Understanding who is responsible for each aspect of the building’s condition can help you to prevent issues from escalating. It will also help you to understand what process to take when situations arise.
4. What is the Pet Policy?
If you own pets, you will need to know if they are allowed in the property. It is also vital to inquire about relevant fees, rent increases, and deposits.
5. What is the Renewal Process?
Learning about the renewal process will help you to make long term plans for your living arrangements.
6. What are the Terms of the Lease?
The terms of the lease will vary between lease agreements. They commonly last for a year, though some may operate on a monthly basis or other term.
7. Are Utilities Included in the Rent?
Not only is it important to understand how much rent will be expected, it is also important to learn about other expenses that may arise. This will help you to determine if you will need to budget for utility bills on top of the rent payments.
8. What Other Rules and Policies Should I Know About?
Other rules may dictate your living situation. This includes things like guest policies, smoking policies, subletting, and more. The more questions you ask your landlord, the more confident you will feel before signing the lease agreement. To learn more about the questions you should ask your landlord before signing the lease agreement, contact us at the Keyrenter in Chicago North today!