As you scrutinize your lease agreement, prioritizing certain elements can make the process less daunting. What are the key things to look for in a lease agreement?
The terms regarding rent are the cornerstone of any lease agreement and are among the essential things to look out for in a lease. Ensure that the agreement clearly specifies the amount of rent, due dates, and acceptable payment methods. Consider, for instance, a commercial lease agreement template from Lawrina, where these rent-related aspects are carefully defined.
Your lease's duration is another vital aspect of what to look for in a lease agreement. Start and end dates should be clearly stated, along with processes for lease renewal or early termination. This information influences your long-term commitments and plans.
Maintenance & Repairs
Things to look out for in a rental lease also include your and the landlord's responsibilities regarding maintenance and repairs. Are you expected to mow the lawn or fix leaky faucets, or is it handled by the landlord? Clear delineation of these roles avoids future disputes.
Security deposit terms
Considering the significant amount of money at stake, the security deposit terms are crucial things to look for in a lease agreement. These terms should outline the amount of the deposit, its purpose, return conditions, and whether it's refundable.
Paying heed to termination clauses is a crucial component in understanding what to look for in a lease agreement. These delineate the grounds on which a lease can be prematurely ended and the penalties, if any, for breaking the lease.