Lessening the Confusion and Decoding

Lessening the Confusion and Decoding the Language of LeasesIf you are interested in leasing a condo in the near future, it is important that you learn more about the typical terms in a lease.

When you rent a property, the landlord will have the option to use his or her own lease or a standard lease template prepared by the Arizona Association of Realtors.

Regardless of the format that is used, this will be a valid, legally-binding document once both parties have signed it.

Therefore, it is important that you understand the terms of the lease before you sign it.

Keep in mind that tenants and landlords alike have rights that are protected in the lease, but the terms can also vary from agreement to agreement.

General Lease TermsThe lease will dictate who is legally responsible for payment of the rental payment and for satisfying all of the terms of the lease.General Lease Terms

The people who are named as lessees or tenants will be the individuals who can be held responsible for making payments, for the condition of the property and for fulfilling other terms of the lease.General Lease Terms

Regardless of any roommates or other adults living in the property, the named lessees are the responsible parties.General Lease TermsThe lease will dictate start and end date for when the tenants can legally occupy the property, if it will continue on month-to-month after it expires, how much notice the tenant must give prior to vacating and other terms.General Lease TermsPets and OccupantsWhile the named lessees or tenants are legally responsible for the condition of the property, making the rental payments as agreed and other factors itemized in the lease, others may legally live in the property.Pets and OccupantsOther named occupants who will occupy the property on a permanent basis must typically be identified and named in the lease, and it may dictate that no other individuals shall be permitted to stay in the property for longer than a specified number of days.Pets and OccupantsIn addition, the contract will name pets that are allowed to be on the property and the terms, such as a pet damage deposit.Pets and Occupants

The Condition of the PropertyThe lease will also dictate the condition of the property.The Condition of the PropertyGenerally, a tenant will be required to complete a condition form before moving into the property, and this will itemize existing damage to the property.The Condition of the PropertyThe tenant will be required to pay for additional damages done to the property during the time of occupancy, and this cost will be deducted from the security deposit.The Condition of the PropertyIn addition, the lease will itemize how the tenant should maintain the property and how to handle repair issues that arise during the time of occupancy.The Condition of the PropertyA lease can be detailed, and it may not be the same as others you have signed. Because of this, you should read through the entire document up-front, and you should negotiate terms that you are not comfortable with.In addition, you should refer to the it as needed to ensure that you act according to your responsibilities under the terms. If you are looking for a condo to buy in Tempe for your ASU student, We Know Urban Realty will help you find the perfect place.Their realtors are experts when it comes to urban living.Visit the site to see what's available right now:www.weknowurban.comWill Daly, BrokerWe Know Urban Realty, LLC834 E Claremont Street, No 3Phoenix, AZ 85014(480) 510-8755Email: Will@WeKnowUrban.com