Monday, May 2, 2011

Lease Contract

The Texas Apartment Association came up with six important points to read carefully in a lease. Here they are:

1. Check to see how much advance notice you must give before moving at the end of your lease term. (A 30-day written notice is most common when rent is paid monthly. However, some properties may require more notice.)

2.  Look for security deposit refund restrictions.

3.  Look for your rental housing owner’s obligation to make needed repairs. (A requirement for diligence is common.)

4.  Be sure to read any cleaning instructions. (Cleaning costs usually can be deducted from your security deposit if you fail to follow instructions.)

5.  Check on prohibitions against subletting or keeping animals. (Written permission is usually required. Also, there is usually an extra deposit for animals.)

6.  Ask the manager to write in and initial any oral agreements or changes in the lease that are agreed to by you and the owner’s representative.