A lease agreement is a legally binding contract. By signing a property lease, you become legally responsible for everything covered within the lease agreement. With this in mind, it is important to understand every section of the lease agreement fully. A lease agreement can be a lengthy and complicated document but this does not mean that it should be overlooked or skimmed over.
What will the lease agreement cover?
- Basic information about the tenant or tenants
- Contact details of the tenants and the landlord
- A detailed description of the property, including the address & inventory
- The rental contract duration
- Rent information, including the security deposit and rent payment dates
- The responsibilities and rights of the tenant & landlord
- Rules for terminating or extending the contract
As a first-time renter, you need to read through the tenancy agreement very carefully, ensuring that you understand all of your rights and obligations as a tenant. Avoid skimming through the tenancy agreement because this could lead to you missing important aspects that could cause issues further down the line of your tenancy.
Tip: When going through the lease, use a highlighter and sticky notes to help with outlining points you’re concerned about, don’t fully understand, or wish to gain clarity on.
Leasing agents will be able to offer answers to any of your questions you might have about your leasing agreement. It is important to ask any questions you have before signing the lease.
When checking your lease, you need to look out for any hidden fees that you might not be expecting. It is also useful to check for eviction notice rules because your landlord should not be able to evict you at any time, usually, they have to give you a required notice period.
Please note that your landlord should provide you with a physical or digital copy of the leasing contract. It is critical that you keep hold of your own copy of the lease for future reference.
Here at Home James Property Management, we spend the time to ensure tenants of Auckland residential rentals completely understand their obligations under the agreement to make sure everything is clear. Offering tenant support through our property managers is a key role and if you have any issues. Please feel free to get in touch anytime and we will do our best to assist you.