Your First Memphis Apartment Lease
Sep 14th, 2007 by Memphis Apartments
You are finally ready to move out on your own. You have gone Memphis apartment hunting and finally found the Memphis apartment of your dreams. You have filled out an application and been approved. Now you are ready to sign your first lease.
Before you sign the lease there are several things you need to know. You must understand that your lease, once signed by you and the landlord, is a legally binding agreement. If you decide you do not actually like the Memphis apartment once you move in, you cannot simply move out without legal ramifications.
Read the lease carefully before you sign it. You cannot make changes to it after you sign it unless the landlord agrees to the changes. It is best to make sure everything is alright before you sign the lease.
There is specific information you should review. The first is the rent amount. Make sure this is the same figure you agreed upon with the landlord. The rent amount will be listed as a monthly amount as well as an annual amount. You should know that if you default on your monthly rent, you are still legally responsible for the annual amount. It is a twelve month lease, and you are responsible for the full amount of the lease.
The grace period and amount of the late fee should be detailed. If a late fee is not listed, your landlord cannot charge you a late fee for missing your rent payment. If a late fee is listed, make sure it is reasonable. Each state dictates the maximum amount a landlord can charge in late fees. It is your responsibility to know the law in your state. The same goes for your security deposit, the amount of which is listed in your lease.
The lease will also describe whether you or the landlord is responsible for the utilities. If the utilities are in your name, the lease will likely indicate that you can be evicted if you do not pay your utilities and they get disconnected. If the utilities are in your landlord’s name, understand you have no control over them. He is going to control your usage so he can control the expense. Know what to expect about the utilities. If you have questions, ask the landlord before you sign the lease.
One of the most important aspects of the lease you need to verify is the Memphis apartment number. You were shown a Memphis apartment and agreed to rent it. Make sure it is the Memphis apartment number listed in the lease. If you sign a lease for a different Memphis apartment, you may not have any recourse later on. If you are assigned a parking space, the space number is listed on the lease. If you discussed a specific spot with the landlord, make sure it is the same one in the lease.
The lease will outline specific rules you are required to follow when you move into your Memphis apartment. Your landlord will highlight the ones he thinks are important. It is up to you to read the lease in its entirety and understand it. If there is something you do not understand, ask the landlord about it. When you sign the lease you are agreeing to everything in the lease.
Your landlord will emphasize the clause in your lease that prohibits unauthorized persons living in your Memphis apartment. Your landlord has the right and responsibility to approve every single person living in his property. You do not have permission to add another person to your lease without landlord approval. If you want to add someone, notify your landlord in writing. He will need to conduct a background check before approving the addition to your lease. If you move someone in without approval, you may face eviction.
Your lease will specify your complete responsibility for the condition of your Memphis apartment. If it is damaged in anyway, regardless of who causes the damage, the landlord will hold you accountable in accordance with your lease. For this reason and the other reasons previously described, it is important that you review and understand your lease before signing it.