1st Lake Blog

Tips For First Time Renters: What’s In Your Lease Agreement

Ah, the dreaded lease agreement! Many times, while this is the simplest of moving tasks to complete, this can be the most daunting! A lease agreement, in very basic terminology, grants an individual use of an individually-owned or company-owned asset. Most often, the individual is called the lessee and the owner of the asset is known as the lessor. Simple, right?

Although lease agreements typically contain a long list of terms and conditions that are intertwined with legal jargon, they are meant to provide protection to both the lessee and lessor. Lease agreements are not meant to be scary or over-imposing. In a dynamic world where things are so ever-changing, a lease agreement will offer consistency and comfort in your living experience. Additionally, a lease agreement offers a plethora of rights and privileges to the lessee.

With respect to apartment lease agreements, the lessee is granted much more than just the right and privilege to reside in an apartment home. Rather, the lessee is able to use the luxuries of the owner’s entire asset. Pools, tennis courts, fitness centers, business centers, and all of the other amenities of the owner’s asset can be utilized by the lessee.

It is, however, very important for the lessee to understand the entirety of the lease agreement, so that he/she can make the most of what is being offered and also be aware of what is not permitted due to the well-being of the owner and asset. Read through your lease agreement and ask questions about the topics that you aren’t completely certain of. You’ll be very happy that you did.

The final point to make about a lease agreement is the pride that you should take in it. An individual or company has made an educated decision to entrust you with their precious asset. They’ve determined that you are a good candidate to use, take care of, and represent this asset. You should be proud of yourself for being extended this lease agreement and commit yourself to the terms of it.

Don’t be afraid of a lease agreement. It is there for protection and guidance. Be proud that you were able to secure a lease agreement and make the most of it.