Common terms found in lease agreements include the terms of the tenancy, fees, deposits, cost of rent, utilities and the current condition of the rental unit, according to Nolo. An individual should read a lease agreement thoroughly and ask any questions that may arise.Continue Reading
The terms of the tenancy include how long the renter agrees to remain in the rental unit, according to Nolo. The length of a lease is typically for a full year, but leases can also operate on a month-to-month basis. The day the lease starts and the day it ends should be listed on the document.
Deposits and fees usually include cleaning fees, the final month's rent and the security deposit, as explained by Nolo. Depending on the landlord, the renter more than likely has to pay the required deposits and fees in the form of a cashier's check or money order rather than a personal check.
The amount of rent, when it's due and how it can be paid are also common lease terms, according to Nolo. The lease usually includes the fee amount for late payments. The amount of rent the tenant can expect to pay is usually determined by the neighborhood, size of the unit and the property's amenities. Race, gender, sex and other group characteristics cannot be used as basis for rent.Learn more about Finding a Home