FiLife - Your Financial Lifeline

Your Financial LifelineTM

In partnership with The Wall Street Journal
 
 

Question

Wayne
FiLifer
Votes0
Views360

Wayne asked about a year ago in Real Estate Brokers

Renting an apartment

I'm new to the leasing game and want to make sure I don't accidentally sign a contract filled with loopholes. What's the biggest area to watch for when signing a lease agreement on an apartment/house?

Was this question interesting?

Yes

(2)

No

(2)

Permalink | Abuse

FiLife Recommends

Answer Question
  • Share:

1 Answer

Sort by:
Ali Rogers
FiLife Contributor
Reply

Take a look at the access provisions of the lease. Your landlord should be able to get in for two reasons: 1) emergencies (let's say a pipe breaks) and 2) to find a renter or a buyer to succeed you after you leave.

#1 is perfectly logical -- if there's a leak, you'd rather the plumber be there!

But for #2, when I am a repping a renter, I try to limit that access to the last 60 days of the lease term, with 24 hours notice. If your lease doesn't have something like that, you might want to write it in.

What's the loophole if you don't? The landlord decides to sell, and then brings buyers through the property three times a week for months -- which can be a disturbance to you as a tenant.

Is this helpful?

Yes

(1)

No

(0)

Permalink | Abuse

Answer this Question

We want to get you real financial help as quickly as possible. To help us continually improve, please provide some feedback on your experience asking our experts your question:

The more information you can provide, the better answer our experts can give you. Tell us some more about your issue and we’ll try to give you a better answer.

Generic User Image

Ask a Question

140 characters

Tips

  • Be specific and clear.
  • Be courteous and thoughtful.
  • Share some details about your situation (age, relationship, etc)
Login, Join or login with   or

Ask a Question

140 characters

Personal Finance News

Receive our Personal Finance Newsletter

Stacker Poll of the Day

What age should you start your child's allowance?

Avg 8.4
 
Avg 8.4
 
533 responses

Top Members This Week

Kees deWit
Platinum

206

FiQ Points ?
GM
Silver

148

FiQ Points ?
Robert Schmansky, CFP®Napfa_small
Expert Partner

103

FiQ Points ?
JLynn
Platinum

99

FiQ Points ?

jerrylee
Gold

91

FiQ Points ?
Tonka Beans, CFA
FiLife Contributor

71

FiQ Points ?
Joseph Alfonso, CFP®
Expert Partner

49

FiQ Points ?
John M. Scherer, CFP®
Expert Partner

44

FiQ Points ?