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The Importance of Reading the Fine Print of a Property Lease

You've just found your dream place. It checks off everything on your list and looks to be the home where you will raise children and grow old. But before you get too cozy with the idea, have you read the fine print on the lease?

Everyone knows that shady businessmen can sneak questionable things into the fine print. The same is very much true of your property lease. It may be tempting to skip through all the boring legalese to so you can sign, but that's a big mistake.

Before you sign a lease, you need to know the lease agreements backward and forward. Keep reading to see why it's so important that you pull out a magnifying glass for the fine print on a lease.

The Fine Print on a Property Lease Can Include Onerous Burdens

You'd be surprised what sorts of things people have tried to put into the fine print on a lease. One man in Las Vegas included a highly inappropriate stipulation in a residential lease. While this was illegal and ended up in court, it just goes to show what sorts of things you might find.

In most cases, these things will be perfectly legal. For example, the owner may require the home to be show-ready at all times. This means that if your home is not presentable to visitors, you could be violating your lease agreement.

It's unlikely that you will run into that sort of situation, but you should be on your guard. You do not want to find out later about some inconvenient rules that you must live by.

Ask for Clarifications and Addendums

Sometimes, the landlord may be vague about what exactly they want. They may require the utmost cleanliness and charge a fine for anything less than that. But you wouldn't want to get a fine for some dirty dishes that you didn't have time to clean.

Ask for clarification, and get it in writing. It's best if the landlord can create an addendum for the lease contract so it has legal backing. This way you know exactly what you are getting into and how to avoid fees or troubles with the landlord.

Get Help If You Don't Understand

Lawyers and legal counsel exist to help you with the complexity of the law. If you struggle to understand what you are reading, get the help of a lawyer. They can clear up any doubts you have or suggest getting further clarification.

If you so desire, you can renegotiate the terms with the landlord who is leasing the property. You can ask for lower rent in return for renovating the home, as one example. But if they turn down your suggestions, you may just have to walk away.

Get Your Scoop from Realty Biz News

Reading the lease can be stressful because you are worried that you might miss something important. Regardless, you should take the time to read the fine print in your property lease very carefully. This is where landlords can put very sneaky requirements, which you may not suffer the consequences for until later.

Reality Biz News provides invaluable resources for housing, marketing, and technology. Visit our housing blog today for more.

Catherine Tims

Catherine covers a broad spectrum of niches: personal finance, mortgages, travel, housing, internet marketing, network marketing, marketing, and business. Catherine is a Realty Biz News Contributor

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