You’re being transferred to a new city in another state for a position that you start in exactly two weeks. You fly to your new hometown to select an apartment. You have exactly two days to make a decision and sign a lease, so when, after much searching, you find a vacancy in a relatively decent property, you’re anxious to sign when the lease is placed in front of you. Resist the urge. As mentioned in previously in our report “Avoiding Tenants’ Tribulations,” wearing rose-colored glasses can easily fool you into believing that your best interests as a tenant will be protected. Your desire to find a home and wind up what can be an exhaustive search process can push you into signing on the dotted line before you’ve read and understand all of the fine print of your lease.
What’s the purpose of a lease, aside from your agreement to pay your rent each month and maintain your apartment in good condition? For starters, the responsibilities of your landlord are clearly outlined in this contract, so it’s obviously in your best interests to read the lease carefully. If you’re ignorant of the lease terms, you could find yourself blindsided several months later when your landlord holds you responsible for damage or other breach of lease, and subsequently asks you to move out. What if your employment situation changes five months into your 12-month lease, and you’ve got to move before your lease expires? Your lease will outline your financial obligations should you need to back out for any reason. continue reading »
