Rental contracts and renewal
The listing helps you choose a home; the contract determines what happens after you choose it. Before signing, identify the lease type, renewal path, notice deadline and rules that can affect your move-out costs.
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Lease types
A standard lease generally continues when both sides agree to renew. A fixed-term lease ends on its stated date unless the parties make a new agreement. Read the contract to see which type applies and what renewal payment or procedure it names.
These are different questions from “How long is the initial term?” A two-year lease may have a renewal procedure, while a two-year fixed-term lease may end unless a new agreement is made. Ask the agent to show you the exact clause and any payment connected to it.
Notice and changes
Check the notice period for moving out, the method for giving notice and any conditions for early termination. Also ask how rent, management fees, renewal fees and insurance are handled when the contract changes.
Before signing, read the important-matters explanation as well as the lease. It should give you a chance to check the property, costs and contract conditions before you make the agreement.
Before you sign
- Ask for an explanation of any term you cannot read or do not understand.
- Check the lease term, renewal procedure, notice period and any early-termination condition.
- Ask how cleaning, repairs and the move-in condition record affect your move-out costs.
- Confirm the named tenant, emergency contact, guarantor company and payment dates.
- Keep a copy of the contract, important notices and the move-in condition record.
Plan for the end of the lease
Keep the move-out notice method and deadline somewhere easy to find. Before you sign, ask which cleaning or repair rules apply, how the condition of the room will be recorded and when the final account is issued.