Facts about the Apartment Lease Agreement template

Contents

What is an Apartment Lease Agreement?

When someone wants to rent an apartment, it's standard to sign an apartment lease agreement before taking residence in the space. Renters, property management companies and private landlords use apartment lease agreements to detail the conditions of occupying and renting the residential property. This is an essential document that gives the owner and the renter a clear set of expectations and helps protect their individual interests and rights.

An apartment lease agreement generally includes specifics about the amount of monthly rent that the tenant must pay, how long the lease agreement is valid for, the amount of security deposit required from the tenant, details about pets in the apartment and information about other amenities that are included in the rent. The lease agreement will also identify the address and location of the property and include the details about the tenant and the property owner.

Landlords may also include information about parking spots, property maintenance tasks, landscaping and yard responsibilities, trash and recycling policies, guest policies and details about furnishings. Most apartment lease agreements also provide clarification about late rent payment penalties. Some property owners may also include specific rules prohibiting activities like smoking or subletting in the apartment lease agreement. Many states also have specific tenant and landlord laws that may be detailed in a lease agreement. For example, in Colorado, tenants must have renters insurance, and in Illinois, subletting must be allowed.

What is an Apartment Lease Agreement used for?

An apartment lease agreement is used to set the terms of a tenant occupying and renting the property. The individual or company that owns the apartment must prepare the agreement to give a formal overview of the conditions of the tenant's lease. The agreement is a legal document that ensures a landlord's property will be used appropriately. It also secures a tenant's right to reside in peace and enjoy the space.

Why should you use an Apartment Lease Agreement?

If there isn't a formal document, such as an apartment lease agreement, problems could arise from either the landlord's end or the tenant's perspective. For a property owner, without a clear agreement, there is a risk of losing money or experiencing property damage from the tenant. The tenant could leave at any time, forcing the landlord to find another suitable renter and losing income. Additionally, without specific rules about the property written out and detailed, the tenant could potentially damage the property and cause the landlord to cover the repair costs.

Renters also lose without a formal lease agreement. If there is nothing written in place, the landlord could raise the rent each month, causing serious financial implications. It also gives the tenant no rights or protection if the landlord doesn't maintain essential things about the property, such as the heat or working appliances.

How to write an Apartment Lease Agreement?

Writing an apartment lease agreement should be simple if the basics about the property and the terms are all included. The landlord or property manager and the tenant should have discussions first about what they want the document to include and agree on the length of time for the lease and the monthly rent. In many cases, these terms are negotiated ahead of time and then detailed in the formal agreement. Apartments that include parking and other amenities should also detail exactly what the tenant has access to and state whether or not additional fees are required to access a property's exercise space, pool or other perks. Landlords and property management companies should also research which information is required to be disclosed according to federal, state or local regulations. Properties that are older must include information about lead paint in the structure.

Include the following information in an apartment lease agreement:

  • The name and information about the landlord
  • The name and information about the tenant
  • The property's address
  • The amount of monthly rent
  • The security deposit amount
  • Any pet rent or pet deposit fees
  • Details about fees for late rent
  • The length of time of the lease agreement
  • Terms for when the landlord enters the apartment
  • Property maintenance details
  • Utility information
  • Parking instructions
  • Any disclosures required by law

How to Fill Out an Apartment Lease Agreement with PDFSimpli in Five Steps

  • 1. Preparation:

    Before preparing the actual apartment lease agreement, the landlord or property management company should get as much information as possible about the tenant and the apartment. The landlord or property manager is the person who is responsible for writing this document, so this individual must be in contact with the potential tenant and make sure there is a consensus on the major points of the lease and the terms of occupying the apartment. The tenant and landlord should come to an understanding about whether or not there will be pets and how much any additional pet fees will be.

  • 2. Choosing a Software:

    Next, the landlord or the property manager must choose the right PDF software to create this binding legal agreement. PDFSimpli software is a great option that gives property owners an easy way to create a professional apartment lease agreement and make edits and changes as circumstances shift. It also gives both the tenant and the property owner flexibility with a convenient electronic document that can be prepared and finalized quickly on a computer and over email.

  • 3. Fill Out or Edit the Apartment Lease Agreement:

    With PDFSimpli, property managers and landlords get the basic outline of the document and the standard language included in most apartment lease agreements. The software makes it simple to fill out each section and include the tenant's details and the property's information. It's also easy to edit different aspects of the agreement and customize the document for the specific terms of the lease.

  • 4. Review:

    After the draft of the document is completed, the landlord or property manager should take the time to review it and make sure everything is covered for the lease agreement. Some property owners may want to consult a real estate attorney to make sure the apartment lease agreement complies with the local laws and tenant regulations.

  • 5. Save, Download, Print or Send for Signature:

    When the document is ready, PDFSimpli allows for quick saving of your work. Then, the completed apartment lease agreement can be downloaded, printed if necessary and sent out to the tenant for review and a signature.

Apartment Lease Agreement Frequently Asked Questions

An apartment lease agreement is used in a traditional long-term rental agreement or with a short-term vacation rental situation as well. Just like a long-term agreement, a short-term lease or vacation rental also includes a set amount of rent, fees for pets, a security deposit and stipulations that protect both the renter and the property owner.

If either party violates the lease agreement, it's best to try and settle the disagreement first and understand why. In some cases, the two parties may be able to rectify the situation and continue with the lease agreement. If the tenant or landlord repeatedly violates the agreement, there may be a need to take further legal action.

An apartment lease agreement may include different disclosures depending on the location of the apartment, how old the property is and other situations regarding the terms of the lease. Some properties must disclose asbestos or lead paint if the apartment was constructed before 1979. An apartment lease agreement may also have to disclose if there was ever mold in the property, a death on the property or if the property was ever used for storing or manufacturing illegal drugs.