Once you've found an apartment that you want to live in and once your application has been approved, the landlord or property manager will provide you with a lease agreement that you will need to sign. This agreement generally includes all of the terms of the lease as well as the rules and regulations you need to abide by as a tenant in addition to what the landlord or property manager can or can't do.
However, don't just assume that all lease agreements are standard and relatively similar to one another. You should read over your lease agreement carefully in case there are any clauses included that you do not agree with. You can still negotiate these clauses before you sign the lease. The following are some of the possible clauses that could be included in your lease agreement that you should keep your eye out for:
- Utility Costs - Your lease should tell you exactly what utilities are paid for. Generally speaking, water and gas tend to be included in the price of rent. However, this is not always the case, so be sure to check.
- Renewal Clause - A renewal clause gives you the opportunity to renew your lease once the term has ended. Without a renewal clause, the landlord or property manager could rent your apartment to someone else. There's usually a deadline for the renewal as well. If you miss the deadline, your right to renew is lost. Last but not least, there might be an escalation clause that would raise the rent in the subsequent years. This is usually based on a fixed amount, a percentage of your first year's rent or on the cost of living increase.
- Pet Clauses - If you have a pet, then you should ask the landlord or property manager about their pet policy before it even comes time to sign a lease. However, you should still look for any pet clauses included in the agreement - especially if you're considering getting a pet in the future. The lease agreement will include a clause that states whether pets are allowed or not, how much the pet deposit will be and whether there are any restrictions. Just because an apartment is advertised as pet-friendly does not mean that all pets are allowed. Sometimes, there are weight or breed restrictions.
- Ability to Show the Apartment - Some landlords and property managers will include a clause that allows them to begin showing your apartment once your lease is almost up. Find out exactly when they can begin doing this and whether there are any restrictions. You won't want your landlord coming in months before your lease is up at times of the day that are inconvenient to you.
- Air Conditioner Restrictions - If the apartment doesn't come with central air conditioning, then you may plan on using window units. However, a lot of standard lease agreements do not allow anything to be hung from your windows, especially if your apartment is on a higher floor. Even if you are allowed to use your own A/C unit, there may be a clause in your lease requiring you to have it installed by a professional.
- Security Deposit Terms - It can be a challenge - and a huge hassle - to try and get your security deposit back in full. To reduce the amount of effort that it might take to get your security deposit back, make sure that there is a clause in your lease that stipulates how long your landlord or property manager has to give your security deposit back once you move out and your apartment has passed its final inspection. You won't want to end up waiting months to get your security deposit, after all.
- Entrance Clause - Some landlords or property managers may include a clause allowing them entry to your apartment at any time. If you value your privacy, you'll want to make sure that they have to give you advance notice before doing so.
- Subletting - If you think that you might want to sublease a room in your apartment, then you'll need to check your lease for the subletting clause. Most standard lease agreements require approval from the landlord in order to sublease.
- Outdoor Space - If your apartment or building has an outdoor space, make sure that there is a clause stipulating that you have the right to use that space. Without such a clause, you won't be entitled to potential rent abatement should that space become unusable.
If there are any clauses present that you don't agree with or clauses that you want to be included, you should speak to the landlord or property manager about them. You can always negotiate the terms before you sign the lease.