Signing A New Contract Checklist
As a college student, signing your first rental agreement can be overwhelming. With complex legal terms and potential hidden costs, it’s important to understand exactly what you’re agreeing to before you sign on the dotted line. In this guide, Signing A New Contract Checklist, you will find a comprehensive checklist to help you navigate your rental agreement with confidence, ensuring you don’t overlook any important details that could impact your living situation or finances.
Rental Agreement Checklist: What to Look For Before You Sign
1. Basic Terms
- Lease start and end dates
- Monthly rent amount
- Rent due date and acceptable payment methods
- Length of lease (fixed-term or month-to-month)
- Names of all tenants on the lease
- Landlord’s contact information
2. Security Deposit
- Amount of security deposit
- Conditions for full return of deposit
- Timeline for deposit return after move-out
- Any non-refundable fees (distinguish from deposit)
Some renters struggle to get their security deposit back because they don’t understand the standards they need to meet in order to get it back. Make sure you understand clearly the guidelines, so get your money back!
3. Utilities and Maintenance
- List of utilities included in rent
- Utilities tenant is responsible for
- Process for reporting maintenance issues
- Timeframe for landlord to address repairs
- Tenant’s maintenance responsibilities (if any)
Utilities and maintenance (like summarizing your home) can end up adding several hundred dollars to your monthly rent if you’re not careful. Some landlords don’t include in your rent monthly expenses like parking, facilities, administration, and amenities fees. Even if each of these fees is only $15, that adds up overtime! Make sure you understand exactly what you will be paying on top of your monthly rent amount.
4. Policies and Restrictions
- Pet policy and associated fees
- Guest policy
- Noise restrictions
- Smoking policy
- Parking rules and any associated costs
Make sure you find an apartment that fits your lifestyle! If you like to party and have a lot of people over, you may want a landlord that has more lenient noise and guest policies. Alternatively, if you prefer a more quiet lifestyle you may want to avoid landlords that have no noise restrictions.
5. Modifying the Living Space
- Rules about painting or decorating
- Policy on hanging items on walls
- Restrictions on furniture or appliances
Understand what changes you’re allowed to make to your living space. This can affect your comfort and potentially your security deposit if you make unauthorized modifications.
6. Lease Termination and Subletting
- Early termination clause and associated fees
- Subletting policy
- Renewal terms and notice required
- Consequences of breaking the lease
Life can be unpredictable, especially for students. Opt for a landlord that has low early termination fees or one that allows subletting. If you have a landlord that doesn’t allow subletting, you will probably have to pay more in fees if you need to leave.
7. Rent Increases
- Conditions allowing rent increases during lease term
- Notice required for rent increases
Some landlords put in a clause that allows them to raise rent during your lease. Make sure you know if your landlord can raise rent and if so, by how much.
8. Amenities
- List of included amenities (e.g., laundry, gym)
- Any fees connected with amenity use
Before signing:
- Read the entire agreement carefully
- Ask for clarity on any confusing terms
- Get all verbal agreements in writing
- Negotiate terms if necessary
- Keep a copy of the signed lease for your records
By reviewing your rental agreement with the list above, you’ll be better prepared for a positive living experience during your college years.