Before signing a long-term lease, you should have your real estate lawyer examine the deal, point out any problems, and help negotiate on your behalf.
But if this is the first time you are leasing a property, you may have questions about what will be needed, what information is typically included and more.
What Information Is Included in a Lease Agreement?
As a legal document, your lease agreement more or less defines the rights and responsibilities for both the landlord and tenants. A lease agreement serves two-fold: one as a legally binding contract which can be enforced in court and two, it’s full of business-related matters for the landlord such as how long the lease is in use, the amount of rent due and when, etc.
Other factors included in a lease agreement are:
- Names of all tenants
- Contact information
- Description of the property
- The expiration date of the lease
- The cost of the lease including first month and last month payments, acceptable payment methods, late fees, and charges if a check bounces
- How security deposits are held and for how long
- Maintenance policies
- Landlords right to enter the property
While these are the major terms laid out in a lease agreement, some landlords will also define limitations on smoking, pets, and termination of the lease agreement if caught doing illegal activities.
Why Would a Lease Not Be Legally Binding?
While the aforementioned details are what make a lease legally bound, there are some terms that will be unenforceable in a lease and can change the parameters of its acceptance.
Such terms are:
- The landlord can repossess the property if the rent is behind. Eviction can’t happen on a whim. A landlord must follow an eviction procedure.
- The landlord can come over whenever. While the landlord can establish a right to enter the property, that person cannot enter at any time, without notice. As a tenant, you have a right to a reasonable amount of privacy.
- The tenant will pay for all rental damages without establishing fault. A landlord cannot charge a tenant for damages he or she did not cause, ie. storm damage.
While you may be compelled to jump into a lease agreement, it’s best to have a trusted real estate lawyer who can negotiate the terms of the lease and ensure all aspects are legally sound.
Why Do I Need a Real Estate Lawyer for a Lease Agreement?
Like any type of contractual agreement, there is likely to be wording that you may not be completely versed in. Along with that, it is also the probability of fine print which may not seem important at the moment but could cost you big later on.
We know landlord-tenant disputes happen, but when it comes down to a disparity in your lease, it’s best to have a trusted real estate attorney by your side.
Why Our Scranton Real Estate Lawyers?
If you live in Northeastern Pennsylvania and are in the middle of a real estate transaction, now is the time to get a Scranton real estate lawyer on your side. Put your trust in a law firm that puts your needs first. Contact Mazzoni Karam Petorak & Valvano for a free consultation today. Serving clients in Lackawanna, Luzerne, Wayne, Monroe, and surrounding counties.