Apartment Lease Agreement

Instructions & Checklist

Apartment Lease Agreement

□ This package includes the following items:

(1) Instructions and Checklist for Apartment Lease Agreement (the “Lease”);

(2) Information about the Lease;

(3) The Lease;

(4) Inspection Checklist;

(5) Lead Paint Disclosure; and

(6) Exhibit A: Building Rules and Regulations Cover Sheet

□ The Landlord must sign the Lease.

□ The Tenant(s) must sign the Lease. If there is more than one adult Tenant, each Tenant should sign the Lease.

□ Generally, the Landlord and the Tenant(s) will each retain an original signed Lease. Therefore, if there is one Landlord and two Tenants, three original leases must be executed (i.e., signed and dated).

□ If a Lease contemplates a long rental term, some states require that that Lease be recorded. Recording a Lease often also requires notarization. The parties should investigate the circumstances under which a Lease will need to be recorded, and the requirements of that recording.

□ Certain states require the Landlord and Tenant(s) to conduct an inspection of the premises to be rented, either before physical occupancy of the property by the Tenant(s) or before the Lease is signed by either party. Even if a state does not specifically require a joint inspection, it is nonetheless a good idea to conduct one for the protection of both parties. Additional information about the security deposit requirements for each state, and whether an inspection is required prior to funding or returning a security deposit, may be found at the following link: http://www.findlegalforms.com/public/RENT/DEPCHRT.doc

□ For additional information about specific state laws governing Landlord and Tenant relationships in your state, please click on the following link:

http://www.findlegalforms.com/public/RENT/REGCHART.doc

□ If the property was built before 1978 (i.e., pre-1978 property), federal law requires that the Landlord and Tenant(s) (and their agents) sign the “Disclosure of Information on Lead-Based Paint.” Federal law requires the Landlord to keep the signed copy of the “Disclosure of Information on Lead-Based Paint” for a minimum of three years as proof of compliance with the rules. A copy of the “Disclosure of Information On Lead-Based Paint and/or Lead-Based Paint Hazards” form is included in this packet.

□ These forms contain the basic terms and language that should be included in lease agreements for furnished apartments. The laws in some states require a lessor (i.e., the person who is renting out his property) to make additional written disclosures, including disclosures about the condition of the unit, the building, the neighborhood, the environment and any other known problems. Certain cities and municipalities may have additional disclosure requirements that will need to be included. You should consult with a real estate agent or attorney in your area to determine what additional disclosures, if any, are required in your state or locality. Even if these disclosures are not required by law, a Tenant may still request that they be made, and may negotiate to make them part of his agreement.

□ Laws vary from time to time and from state to state. These forms are not a substitute for legal advice. These forms should be considered only a starting point, and should not be used or signed before first consulting with an attorney to ensure that they address your particular situation. An attorney should be consulted before negotiating any document with another party.

□ The purchase and use of these forms is subject to the “Terms and Conditions” detailed at www.findlegalforms.com .

Information

Apartment Lease Agreement

Whenever a landlord (who may be the owner of an apartment building, condominium or residence) rents a unit to a tenant, an agreement should be written and signed by both landlord and tenant and should set forth the terms to which the parties have agreed. Such a document is generally called a lease or rental agreement. Many states consider oral agreements regarding the rental of real property to be invalid; these states require a written agreement.

Some states require that the landlord and tenant conduct an inspection of the premises to be rented either before physical occupancy of the property by the tenant or before the lease is signed by either party. A joint inspection form, in which landlord and tenant agree as to the presence and condition of items in the apartment and the apartment itself, is useful to document the inspection and can help avoid problems or misunderstandings at the end of the lease term. Even if a state does not require a joint inspection, it is a good idea to complete one for the protection of both parties: a joint inspection can help the landlord justify any security deposit deductions, if warranted, or can demonstrate that certain property damage predated the tenant’s occupancy.

Most states have specific laws relating to residential leases, primarily directed at protecting tenants from dishonest landlords. In addition, states have detailed laws addressing the amount and maintenance of security deposits. For example, some states require that a security deposit be held in an interest bearing account and that any accrued interest be given to the tenant at the termination of the lease. States also vary in regulating how quickly a landlord must return a security deposit to a tenant (e.g., within 30 days after the termination of the lease). Landlords should be familiar with the laws of their state. The chart at the link below provides detailed information about the rules relating to security deposits for each state, as well as explaining the time lines and other requirements for keeping and or returning a security deposit. See http://www.findlegalforms.com/public/RENT/DEPCHRT.doc

If more than one tenant signs the lease, each tenant may be held responsible for all of the obligations under the lease if the other tenants don’t perform their obligations. In other words, a tenant may be held responsible for the entire rental amount if his co-tenants do not pay their share.

Housing built before 1978 may contain lead-based paint. Lead from paint, paint chips and dust can pose health hazards if not managed properly. Lead exposure is especially harmful to young children and pregnant women. Before renting pre-1978 housing, landlords must disclose the presence of known lead-based paint and/or lead-based paint hazards in the dwelling. Tenants must also receive a federally approved pamphlet on lead poisoning prevention. The Environmental Protection Agency's pamphlet entitled "Protect Your Family From Lead In Your Home" can be found at: http://www.epa.gov/opptintr/lead/pyfcameraeng.pdf and at http://www.hud.gov/offices/lead/outreach/leapame.pdf. Additional information can also be found on the EPA site at: http://www.epa.gov.