Signs of a Good Lease: Part 2
Middel Realty wants you to help you find your perfect home, and a lot of the information you need to know about your new rental will be in your lease. In part one of this series, we covered how a good lease will include the names of everyone involved, the terms of the lease, details about the rent and other fees, and much more. Knowing what you’re responsible for and who to contact when things go wrong is just the beginning.
A Good Lease Should Also Include…
You’ll also want to get information on who to contact about any problems, and now is a good time to do it. Make sure to ask how they want to be contacted, so you can follow their protocols and make nice.
Tenant’s Right to Privacy and Landlord’s Right to Inspect
You don’t want your landlord showing up unexpectedly in the name of repairs. Decide now what a reasonable timeframe is for them to notify you that they are stopping by the property. They need to make sure that your space continues to meet safety and local regulations, so they will need to stop by every once in a while.
Ability to Sublease (or Not)
If you move out early or take a long vacation, can you sublease your space to someone else?
Change of Ownership
What happens if the landlord sells the property during the lease?
Consequences for Illegal Activity
Your landlord, understandably, will expect you and any other tenants to refrain from any illegal activities. What kind of repercussions do they outline in the lease?
Middel Realty has a no-pets policy to keep our properties well-suited for renters who might have allergies or asthma, but the rules depend on the property. If they do allow pets, they might have restrictions about certain breeds, so it’s important to read the contract thoroughly.
Check for policies on smoking or other house rules the landlord might have added for clarity. In Colorado, you might find a policy on marijuana. While it is legal in Colorado, it is also legal for an owner to ban it from their property.
Is there a place on the property for you to park? If not, where are you allowed to park nearby?
Responsibility for Attorney Fees
If there are any legal issues between you and the landlord, a clause in your lease might decide who pays for the attorney’s fees. It’s not unusual for the losing party to be responsible for any legal fees the other side needed to pay.
Insurance on the property doesn’t mean you or any of your belongings are insured. Clarify what is covered. It is a good idea to consider renter’s insurance in any case.
Make sure the lease looks legitimate. Do you understand what it says or is it full of legal jargon? Does the document look official or is it a bad photocopy? Do you have time to look over the lease properly, or do you feel pressured to sign right away? Be aware of these warning signs and give yourself time to think long and hard about this decision.
There is a lot to look for when you sign a lease, but it is full of important information that can affect you for years to come. Do yourself and your landlord a favor by reading it thoroughly. You should understand your responsibilities, what you can expect from your landlord, and any potential consequences for disregarding what is outlined in the lease. If you have any questions, bring them up before you sign! Middel Realty is here to help you find your perfect Fort Collins home and we are more than happy to talk to about what you’re looking for in your next rental. Browse our listings today or give us a call!