How to be careful of the fine print in a lease

How to be careful of the fine print in a lease

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Fortunately, you have found the dream apartment where you want to live in the near future, but just before you rush to sign the lease, you must carefully review the agreement, and it is especially important to read the fine print very carefully. What are the fine print that we should pay attention to when we come to sign a rental agreement? We have prepared a renter's guide for you, the guide includes important and up-to-date information for landlords as well!

The importance of the rental agreement

A rental agreement is intended to protect and preserve the interests of both parties to the transaction, and the contract must be drafted in clear language and provide an answer to various central issues related to the rental of the property for residence, so that the terms of the transaction are clear to the tenant and the landlord, and the contract must be adapted to the provisions of the law.

It is important to note that the rental agreement is a binding and legally binding contract, therefore the agreement should not be taken lightly and the fine print should also be read carefully. The contract is an important and essential document for the tenants who rent the apartment and also for the lessor, that is, the owner of the property. True, there is a relatively standard contract that includes the main clauses and principles required in this type of agreement, but the leases include additional clauses, usually at the lessor's request, so it is important to read the document in its entirety and before signing the agreement.

What should you pay attention to in the lease?

Every rental contract has small letters that hide behind them, so you must read the agreement and it is recommended to use a lawyer who specializes in these issues. For example, it must be verified that the contract meets the requirements of the law, especially the Fair Rent Law. According to the relatively new law, the lessor may demand and collect a guarantee in advance only up to an amount equal to a third of the rent for the entire period stipulated in the contract, and no more than 3 months' rent. In addition, the rented apartment must be habitable and provide adequate living conditions for the tenant, including connection to the electricity grid, connection to the water infrastructure, ventilation openings and more.

In addition, the new law regulates the obligation of repairs in the apartment on the owner of the property, and he must repair or pay for the repair within 30 days from the date of the tenant's request, as long as the defects in the apartment were caused by reasonable use. There are urgent repairs, for example pipe bursts and leaks from the ceiling, which the landlord must repair within three days of the tenant's request. The law imposes the responsibility to pay the building council, property tax, electricity, water and gas, by the tenant, while payments for the improvement of the property and the purchase of facilities apply only to the landlord, including home insurance, unless the parties decide otherwise regarding the purchase of insurance.

One of the most important clauses in the lease agreement, which usually appears in the fine print, is an option to extend the contract. Usually the tenant is interested in this option because it gives him peace of mind and he can extend the contract and continue to live in the property, therefore it is important to check the fine print since a written notice must usually be sent on the implementation or non-implementation of the contract extension until a certain date, otherwise the agreement may be automatically extended. The landlords dislike the contract extension option as it limits them and they may miss an opportunity to rent the apartment at a higher price.

Another section that is important to refer to correctly deals with the fines applicable to the tenant for late payment of the rent. You must read the fine print carefully to understand how late payment is defined and what the penalty or late interest is for late payments.

Also, it is important to treat the early departure clause correctly, since there are situations in life where you have to leave the apartment before the end of the contract, and it is important to know in advance how many payments must be made to the owner of the property in order to prevent him from a loss and whether it is possible to find and bring in a replacement tenant.

If there are pets, it is important to check whether the contract includes small print related to this, and if you are raising a dog, cat or other animal, make sure that the contract allows this.

The fine print on liability for damages

One of the pitfalls in the rental contracts is related to liability for damages caused to the apartment. The existing laws must be known to check whether the contract is valid, and there are damages caused due to standard use that should not apply to the tenant, while damages caused due to unreasonable use apply to the tenant.

In conclusion, it is worth downloading Standard lease From the Wichek website, and with the help of a lawyer to make changes to the agreement according to the needs of the parties, by mutual agreement and in accordance with the provisions of the law.

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