Your dream apartment can quickly become a renter’s nightmare if you are not careful with the lease agreement. These legal documents can be lengthy and overwhelming. Still, do not sign anything without doing your due diligence, as your finances and sanity depend on it.
Knowing when to walk away from a deal is crucial
Here are some red flags to watch out for when signing a lease:
- Unclear terms: Ensure every term in the lease is clear. Vague language can lead to misunderstandings about responsibilities and rights.
- Maintenance responsibilities: Check who handles repairs. In Tennessee, landlords must maintain safe and habitable conditions, but some leases may unfairly pass certain maintenance tasks to tenants.
- Rent increases: Look for clauses about rent hikes. In Tennessee, landlords can increase rent with proper notice, but the lease should specify how and when this can occur.
- Early termination fees: Be cautious of penalties for breaking the lease early. Know when you can and cannot terminate the lease without excessive fees.
- Security deposit details: The lease should state the amount, withholding conditions and the return timeframe. Tennessee law requires landlords to return deposits within 30 days after the lease ends, barring any justified deductions.
- Entry without notice: Landlords may need to enter your unit for repairs or inspections. The lease should specify reasonable notice, as Tennessee law suggests 24 hours in most cases.
- Prohibited activities: Make sure the lease does not impose unreasonable restrictions on activities such as having guests or pets if such terms are important to you.
- Alterations to the unit: Understand the rules about decorating or making changes to the space. Some leases prohibit alterations without landlord approval.
If you encounter any of these red flags or feel unsure about the terms of your lease, it is wise to seek legal advice. An experienced attorney can review your lease, explain your rights and help you negotiate fair terms. They can also identify any clauses that may be unenforceable under Tennessee law.
Protecting your investment and peace of mind
A lease is a legally binding contract. It is better to invest time and resources to fully understand it before signing rather than deal with problems later.
