Off-Campus Housing
Advantages of a Written Lease
Sometimes when renting a property, especially from a private homeowner, a written lease is not always used. However, a written lease has its advantages and serves as a means to protect yourself as well as the proprietor.
What is a Lease?
- A lease is a contractual arrangement calling for the lessee (user) to pay the lessor (owner) for use of a rental property.
The Lease
- A lease must be in written form to be legally binding
- Ask questions regarding provisions
- Scrutinize the Lease
- Negotiate for more favorable provisions in the lease to protect yourself later
- Once it has been signed, you will be strictly held accountable to it
- Changes made to any lease should be signed by both tenant and landlord.
Advantages include:
- Legally binding
- Documents & sets forth the rights and duties of both parties in writing
- Assures your right to live in the premises for a specific period of time
- Assures that rent will remain at the stated amount during that period of time
Points to consider before signing a lease:
- Examine the Property
- Make Note of Needed Repairs
- Get Verbal Promises in Writing
- Get Receipts
- Discuss the Amount of Security Deposit
- Know your Status
- Discuss Tenant Responsibilities
- Know the Law on Discrimination in Housing -
http://mccr.maryland.gov/housing.html
