Most of you wonder why we need to sign a lease agreement document before you move into a house/apartment.
The following insights will help you understand better:
It is critical for tenants to sign a lease agreement. Anyone looking to rent or buy a home will need a lease. It explains what is expected of you as a tenant and specifies the landlord’s and tenant’s rights and duties.
A lease specifies the length of time a renter is expected to stay on the property, which improves landlord-tenant relations. Adjustment is simple when you sign a property lease. This is because it specifies the expiration date, privileges, and expectations.
The name of the tenant and the landlord, a description of the rental unit, the amount of rent and the date it is due, the mode of payment, methods to terminate the agreements, amenities, and facilities on the premises, rules, and regulations, and so on are all included in a genuine and legal property lease.
Many people want to be “tenants at will” since they find signing a lease to be time-consuming.
This scenario is becoming increasingly common, and it is providing fertile ground for shady real estate agents. Many tenants want to have an oral agreement with their potential landlords. However, because this strategy has no reference point, it is not safe and may leave you homeless before you know it.
It’s worth noting that leasing agreements are legally binding. Many people who live in rental homes frequently complain about issues such as uncaring landlords, unforeseen rent increases, and poor housing maintenance.
A well-written lease agreement can help you overcome these obstacles.
While a lease is vital to both the landlord and the tenant, Georgia Legal Aid Organization recommends that tenants never agree to sign a lease that allows for automatic renewal because this can lead to manipulation.
Always seek a friendly lease with early termination clauses that can be negotiated.
To avoid signing a lease agreement that allows for automatic rent hikes during the lease period, read it carefully.
Though the rate of inflation in the country affects rent increases in most circumstances, they should not be automatic.
Any regulation issued to a tenant should be consistent with the signed agreement; otherwise, tenants should not follow rules not included in the lease.
Repairs should not be left to the tenants, and you should reject any attempts by the landlord to hold you liable for repairs unless they are small, such as replacing broken window panes or replacing a soiled door knob.
