Your Guide To Rental Lease Agreements In Indianapolis: What To Know Before You Sign
Signing an agreement to rent an apartment might seem intimidating, especially if you haven’t faced one before. Although it’s true some rental lease agreements in Indianapolis include more legalese than others, they are generally pretty uncomplicated. Take a moment to learn what you might anticipate finding in a lease and what to beware of to protect your best interests.
What Are Common Parts Of Apartment Lease Agreements in Indianapolis?
Each apartment lease agreement will have the typical info, like the monthly rental charge, the rental length, and the names of people who will live in the apartment. You may also see other items particular to the property. Generally speaking, you may expect to see the following:
- Names of Resident and housing provider. In nearly all agreements, the landlord will be referred to as the “lessor” and the Resident as the “lessee.”
- Description of the property. This info consists of the name of the property, street name, and your unit’s number. Within the agreement, it may be referred to as “the premises.”
- Contract length. The The timeframe of your occupancy is a crucial detail. You can plan to find the beginning and ending dates.
- Names of tenants. Expect to document everyone who will occupy the unit.
- Amount of rent. The agreement ought to denote the cost of rent due monthly. You should also find a due date, instructions on how to pay, approved ways to pay, and info regarding late fees.
- Security deposit amount. The security deposit cost should be documented. If there are extra charges like cleaning fees, they need to be listed as well.
- Utilities. Your lease will show what utilities you must pay. It might also indicate any other billing fees associated with your utilities.
- Pet restrictions. Your Indianapolis rental lease agreement will let you know if pets are allowed, what types, and if there are size or weight limits. You’ll also find details of one-time or monthly pet charges.
- Resident obligations. This part of the agreement outlines what is expected of Residents, such as general maintenance tasks like switching out light bulbs and getting rid of garbage in approved areas.
- Landlord expectations. This part lets you know what is expected to be handled by the property manager, like plumbing repairs, HVAC service, and electrical issues.
- Verbiage in a rental contract that allows changing of a lease. Never sign a contract that isn’t complete or allows a landlord| to make changes after you sign.
- Lease agreements where tenants are responsible for all apartment repairs.
- Changes aren’t reflected. For instance, if you come to an agreement on a lease less than the standard year or work out a smaller security deposit, make sure it’s documented.
This list covers the fundamental aspects of a lease, but you might also come across restrictions on how you may use the property. For instance, you are likely not allowed to sublease or partake in commercial activities. Make certain you grasp the rules, and feel free to ask questions.
What To Beware Of In Indianapolis Rental Lease Agreements
If you’re leasing at a respected apartment community in Indianapolis, you won’t have to worry much about questionable clauses buried in the agreement. But you should always protect yourself. Here are some red flags to watch out for:
Begin Your Lease At Riverview Apartments In Indianapolis
Ready to find your new apartment? Arrange a tour at Riverview Apartments in Indianapolis and check out our spacious units and popular amenities. If you would like to ask about the rental agreement, our office staff is here to assist. Dial 317-751-4053 today to find your ideal apartment.