The Memphis Apartment Rental Agreement
Aug 18th, 2007 by Memphis Apartments
The Memphis apartment rental agreement is the most important document associated with your Memphis apartment. It details the relationship between you and your landlord. It is a legally binding agreement that defines your responsibilities as a tenant as well as your landlord’s responsibilities.
The rental agreement should detail the amount of monthly rent you are expected to pay by the first of every month. If there is a grace period, it will be defined in the agreement. Late fees can only be collected if the fees are detailed in the agreement. If the agreement does not list late fees, the landlord can’t charge you for them.
If the agreement is for a twelve month period, the entire amount of rent to be paid during that time is listed. If you default on the agreement for any reason, you can still be financially responsible for the full twelve month amount. Be sure this amount does not exceed the monthly rent amount multiplied by twelve months.
The required security deposit is listed as are the payment terms. Security deposits are generally required upon execution of the rental agreement. Once you sign the agreement, you usually have to pay the security deposit and first month’s rent in order to get the key to your Memphis apartment. Most rental agreements specify what the security deposit will and will not be used for.
Utility payment responsibility is included in the agreement. Be sure the utilities you are responsible for paying is what was initially discussed with you. If the landlord pays for the gas, ask him when the heat is usually turned on in the winter. If he does not turn on the heat until mid-November, it should be spelled out in the agreement.
The agreement should specify who is responsible for appliances. If there are restrictions on the type of appliances tenants can use, those restrictions will be included. Maintenance requirements of appliances that the landlord provides should be in the agreement.
If you are paying for parking, your monthly parking fee as well as parking rules and policies will be included in the agreement. If you are assigned a parking space, your space number will be listed in the agreement. There are likely to be requirements pertaining to the condition of your vehicle. For example, it can’t have a flat tire or be in non-working condition. These conditions will be outlined in your rental agreement.
Your agreement will describe in detail prohibited activities. If your Memphis apartment complex does not allow pets, restrictions and penalties will be listed. Policies on noise control and violations will also be included. Weapons are prohibited on premises.
One of the most important components of the rental agreement lists the individuals who are permitted to live in the Memphis apartment. This particular clause is often used during evictions. It will specify that you are responsible for the actions of your guests and visitors. It can also specify how long guests can stay at your Memphis apartment before management considers them unauthorized occupants.
The agreement will define consequences to damaged property during and after occupancy. As leaseholder you are responsible for damage that your guests or visitors do to your Memphis apartment or anywhere else on the property. This will be spelled out in the agreement.
A good rental agreement also defines landlord responsibilities. These include maintaining the property. Management is responsible for snow removal and keeping all common areas clean. Management is also responsible for all general maintenance and repairs in and around Memphis apartments.
It should describe what the landlord cannot do. Landlords generally have to give 24-hour notice before entering your Memphis apartment unless there is an issue that requires immediate action, such as a busted water pipe. Notice requirements should be described in the agreement.
For all of these reasons, you should carefully read the rental agreement before signing it. By signing it, you are agreeing to the terms of the document. It becomes a legal agreement between you and the landlord.