Renting Flashcards
Lease
Any tenancy agreement/contract between a renter and a landlord.
Lease should include (minimum)..
Time period of premises being rented, a statement saying the tenant is granted possession during this period, amount of rent, address.
Tenant moves in:
Landlord leaves a security deposit with the landlord, tenant and landlord complete an inspection report.
Security deposit
Money paid when something is rented to cover possible loss or damage.
Tenant responsibilities
Pay rent on time, be considerate of others and building, prevent damage on premises, move out when rental agreement ends, never perform illegal acts or business on premise.
Landlord responsibilities
Ensure the premises are available for the tenant when rental agreement takes effect, Premises are habitable beginning of the tenancy, give proper written notice if they want to enter the apartment for repairs or showings.
Tenant can be evicted for:
Not keeping the property adequately clean, failure to pay rent, being inconsiderate, conducting illegal business, apartment is being sold.
Landlord Entrance Notice must:
Be in writing and signed, be delivered in person or posted in plain sight, state the reason for entry, state time and date for entry.
Periodic tenancy
You rent out the premises without a definite end date.
Fixed term tenancy
You agree to rent out the premises for a fixed length of time.