Lessening the Confusion and Decoding the Language of Leases
If you are interested in leasing downtown Scottsdale condos in the near future, it is important that you learn more about the typical terms in a lease. When you lease a downtown high rise condo or mid-town high rise condo, the landlord will have the option to use his or her own lease or a standard lease template prepared by the Arizona Association of Realtors. Regardless of the format that is used, this will be a valid, legally-binding document once both parties have signed it. Therefore, it is important that you understand the terms of the lease before you sign it. Keep in mind that tenants and landlords alike have rights that are protected in the lease, but the lease terms can also vary from agreement to agreement.
General Lease Terms The lease will dictate who is legally responsible for payment of the rental payment and for satisfying all of the terms of the lease. The people who are named as lessees or tenants will be the individuals who can be held responsible for making payments, for the condition of the property and for fulfilling other terms of the lease. Regardless of any roommates or other adults living in the property, the named lessees are the responsible parties. The lease will dictate lease start and end date for when the tenants can legally occupy the property, if the lease will continue on month-to-month after the lease expires, how much notice the tenant must give prior to vacating and other terms.
Pets and Occupants While the named lessees or tenants are legally responsible for the condition of the property, making the rental payments as agreed and other factors itemized in the lease, others may legally live in the property. Other named occupants who will occupy the property on a permanent basis must typically be identified and named in the lease, and the lease may dictate that no other individuals shall be permitted to stay in the property for longer than a specified number of days. In addition, the lease will name pets that are allowed to be on the property and the terms of the pet lease.
The Condition of the Property The lease for a downtown or mid-town high rise condo will also dictate the condition of the property. Generally, a tenant will be required to complete a condition form before moving into the property, and this will itemize existing damage to the property. The tenant will be required to pay for additional damages done to the property during the time of occupancy, and this cost will be deducted from the security deposit. In addition, the lease will itemize how the tenant should maintain the property and how to handle repair issues that arise during the time of occupancy.
A lease can be detailed, and each lease may not be the same as others you may have have signed. Because of this, you should read through the lease up-front, and you should negotiate terms that you are not comfortable with. In addition, you should refer to the lease as needed to ensure that you act according to your responsibilities under the terms of the lease.
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