Look for these elements as you navigate the language of an apartment lease.

Reading your apartment lease agreement can feel overwhelming, but it is important to understand the terms of a lease before you commit to it.

Here is a list of the basic items you will find in most apartment lease agreements. Look for these elements as you navigate through the language of your apartment lease.

Basic apartment lease information
Every apartment lease agreement will begin by stating the parties involved in the agreement, including basic identifying information about the apartment management company and the renter. This will include details such as the apartment management company’s name and address, the number of the unit being rented and identifying contact information for the renter.

Apartment lease terms and rent details
Two of the most important parts of an apartment lease agreement are the lease term and rental details. The lease term section spells out how long the lease applies and what happens once the lease term comes to an end. It will detail whether the lease is for a year or month-to-month lease, for instance. The lease will also specify renewal and termination details. A well-written lease makes it clear what needs to be done if the renter wants to stay in the apartment once the lease is up and gives provisions to handle a situation such as leaving before the lease has ended.

The rent details section in the apartment lease agreement spell out how much the renter will pay in rent and when that rent will be due each month. This section of the apartment lease will also describe what will happen if the renter is late paying rent.

Deposits and fees
In this section of the apartment lease agreement, the apartment management company will detail any deposits or fees associated with the rental of this specific apartment. Common deposits include security deposits and pet deposits. Common fees include late payment fees and returned payment fees.

Apartment lease regulations
An apartment lease agreement will spell out any specific regulations the renter will need to abide by while renting the apartment. These regulations could include restrictions on what modifications the renter can make to the apartment unit (such as painting) and restrictions on the types or size of pets allowed in the apartment community, for instance. Usually an apartment lease will also have a clause stating that the renter must refrain from any illegal activity inside the apartment unit.

Other apartment lease details
There are a few other sections that one might find in an apartment lease agreement.

• Repairs: This section will detail who is responsible for repairing specific damage to the apartment unit.
• Utilities: This section spells out which utilities, if any, are included in the price of rent and which utilities the renter is responsible for.
• Renter’s insurance: Some apartment community management companies will require their residents to purchase renter’s insurance. If this is a requirement, that detail will be specified in the lease.
• Right of entry: There may be instances where the apartment community management staff needs to enter an apartment unit, such as in emergencies or for scheduled maintenance. This section of the apartment lease agreement will detail when management can enter the renter’s apartment and what sort of notice they must give in advance.

Remember that a lease exists to protect both the renter and the apartment community management or owner. The legal power of a lease agreement specifies rights for both parties who have committed to be bound by the lease.

Now that you know the basic parts of an apartment lease agreement, hopefully, you will feel a little more familiar and comfortable signing a lease agreement for an apartment.

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This apartment lease checklist will walk you through the steps of renewing a typical apartment lease.

Don’t wait until the last minute to renew your apartment lease. If you act early, you reduce stress and improve your options to make a lease agreement that meets your needs.

This apartment lease checklist will walk you through the basic steps of renewing a lease.

• Mark your calendar with important dates. First and foremost, you need to know when your lease is up. Take a look at your copy of the apartment lease and note the termination date. Mark this date on your calendar. 
• Now read your lease carefully and see when you need to notify your apartment manager of your decision to renew your lease or move out. Do you need to notify them 30 or 60 days in advance? Mark that date on your calendar, as well.
• Talk to your apartment manager. Before the deadline to renew or terminate your lease, talk to your landlord or apartment community manager about your options. If rent rates are changing, you should be informed. If you like your apartment community, but find you need more or less space, inquire whether you can move to a different unit within the community. Ask for any agreements made to be placed in writing. Terms should be reflected in your new lease.
• Make a decision. Once you have all this information gathered, you can make an informed decision about how you want to proceed. Decide whether or not you want to renew your apartment lease.
• Write a letter. Once your rental decision is made, submit a letter to your apartment management team informing them of your decision to renew or terminate your lease. If you have made any special arrangements with your apartment manager for a deal on a rental rate or a move to a new unit in the community, include this information and any supporting documents. Keep a copy of these documents for yourself.
• Read your new lease. If you have decided to renew your lease, you most likely will be asked to sign a new lease. This lease will reflect any change in terms and designate the period of the new agreement (one or two years, or month to month, for instance.) Read the new lease carefully and make sure that you are comfortable with the language.
• Sign your new lease. Once you have thoroughly read the new apartment lease and are comfortable with the terms, sign the document to make things official. An official apartment community representative will sign it, as well.

If you take all the time and steps necessary, apartment lease renewal can be a breeze. At the end of the process, you can rest assured that the apartment lease decision was all yours!

Photo Credit: Shutterstock / Yuri Arcurs

Signing a lease for a new apartment can be very exciting — and a little intimidating. You’ll be better equipped to read the lease and catch anything that doesn’t make sense if you know what to expect. Here are some tips on what can be found in a typical apartment lease.

Who signs the lease?
Every lease is a contract, and as such will name the people who have entered into the contract and are legally bound by it. That should be your landlord, yourself and any roommates you might have. Any roommate whose name doesn’t appear on the lease isn’t legally liable for rent; if you take on a new roommate after the lease has been signed, you might want to ask the landlord to issue a new lease.

The basics
The landlord should include information about who manages the rental property, including address and phone numbers. The lease should also identify which property is being rented. The lease should also include the specified monthly rent and the amount of the security deposit. It should specify when a rent payment is considered late and what the penalties are for late payment. It should specify that it applies for a given length of time (say, 12 months) and spell out what happens when one party or the other decides to terminate the lease early.

Some leases will specify how far in advance you need to notify the landlord regarding lease renewal. Some will default to a “month-to-month” agreement after the original term runs out, or the lease may include an “automatic renewal” clause in which the lease is renewed unless you give notice otherwise by a certain date. You’ll want to know this information in advance to help you make your decision and act in a timely fashion. The lease should include information on penalties if you break the lease, as well as whether you would be able to sublet or find a new tenant if you have to leave.

Who fixes what?
Your lease should indicate who is responsible for repairs in the apartment. Frequently, leases make tenants responsible for minor repairs and landlords responsible for major ones, though this may differ depending on your rental management company.

Other items
Your lease may, or may not, include details on the following:

• Pet fees: Many apartment communities require an additional security deposit or rent to have a pet on the property.
• Utilities: You and your landlord should already have agreed on what utility payments you will be responsible for.
• Modifications: The lease may specify that you cannot make significant changes to the property, including painting, replacing carpet or floors or knocking out walls. If you really want a change to the apartment, you might be able to negotiate this ahead of time. Make sure that any repairs or modifications you agree on verbally are written down in the lease.

Signing the lease
Take the time to read your lease thoroughly and carefully because, once you sign, the terms are legally binding. If you don’t understand a clause, ask for clarification. If you want to make or request changes to the lease, both you and the landlord should initial them.

Save a copy of the final lease signed by you and the owner or manager. This is the most important document to help you if there’s any disagreement about the apartment or anything related to your tenancy.