July 14, 2022 |
Updated July 14, 2022
NAA’s President and CEO reviews common lease terms renters should know.
In his recent Washington Post column, “Common lease terms renters should know before signing on dotted line,” National Apartment Association President and CEO Bob Pinnegar reviews the top terms renters might find in their new lease. Pinnegar shows why it is important to always read the terms of the lease before signing. He investigates a dozen terms/topics and provides a brief explanation of each.
While some of the terms are fairly straightforward—think pet deposit and breed restrictions—some are not, like automatic renewal.
Several terms are definition refreshers: Lessor/lessee, month to month and grace period. Some terms, while generally meaning the same thing from community to community, are dependent on the owner and property management company. For example, utilities, typically encompassing water, gas, electric, sewage, etc. But are they included in the cost of rent? That depends on the community.
The same goes for some previously mentioned terms like pet rent and grace period. Does the community charge a pet rent and/or have a breed restriction policy, and how long is the grace period—is there one?
Pinnegar also examines several other terms including sublet, right of entry and quiet enjoyment.