AgentRentals

Outdated leases lead to confusion

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Q: I was recently given a lease to sign that seems outdated. What should a lease include these days in order to protect a tenant? A: Leases, also known as rental agreements, are the vital link between your rights as a tenant and proof of rental circumstances. While leases from the last century usually cover the basic nuts and bolts, newer leases should address newfangled inventions, such as remote controls, intercoms and security codes. New laws have also evolved and should be included, including lead notification and mold. Since older leases sometimes neglect to mention modern details, misunderstandings can be a problem. As a result tenants were sometimes at a loss when a building was sold or management changed, especially if there was a verbal understanding of certain issues, such as assigned parking. Other problems arise simply from daily living issues, such as parking usage. What should a modern lease include? Besides listing the exact mailing address of the unit, the start and e...