Your lease agreement comes with a lot of valuable information, and we know it’s sometimes easy to overlook some of its most critical parts. So we’re talking today about additional parts of your lease agreement that you should be aware of.
We’re discussing how to add a pet, why the security deposit is not considered your last month’s rent, and when your landlord or property manager can access the property. Finally, we’ll discuss special provisions and what that clause pertains to in your lease.
Adding Pets to a Lease
No actions need to be taken on pets that have already been approved.
But, if you’re adding a new pet to the lease, you must get approval in writing. This is because most of our properties only allow two pets at one time. Some dog breeds have restrictions, and bringing a new pet into the property is something that needs to be approved by the owner of that home.
If you not get the required approval before moving in a new pet, there are some potential consequences:
- You’ll be in default of your lease agreement.
- You can be charged $250 initially for the lease violation, and then a $10 charge every day that the unauthorized pet is in the property.
- The pet can be removed from your home within 24 hours by the local authorities.
- You’ll be responsible for any charges that are incurred, including the costs of extermination, cleaning, or damage.
Before you bring home a new pet, make sure you get approval to do so.
Security Deposits are Not Your Last Rental Payment
Security deposits are held to pay for damages. If you go to Section 10 of your lease agreement, you’ll see that the security deposit we collect is for the repairs that may be required if the property is damaged during your tenancy.
You’re still responsible for paying the first month’s rent through the last month’s rent. If you don’t pay the last month’s rent, you could be held responsible for up to three months of rent, plus attorney’s fees. This debt, if unpaid, also goes on your credit and the account will often be referred to a collections company.
Pay your rent when it’s due – even the last month. The security deposit is not meant to pay for rent.
Property Managers and Landlords Access
We will try to give you 24 hours of notice that we’re coming over.
It’s important that you understand we can visit the property at any time to take pictures of the property condition or to do repairs or respond to emergencies. We can access the home to show it to prospective tenants or buyers. We will deliver written notices in advance of our visits.
Special Provisions in Section 26
There are three separate sections to the Special Provisions clause in your lease:
- What you cannot do without written approval. You cannot do any plumbing or electrical work. You also cannot paint the home or change the structures. These are listed in the lease agreement. It doesn’t mean you can’t make changes; it simply means that you need written permission.
- HOA restrictions must be followed. You have to abide by rules and regulations when you’re renting a property in an HOA. Otherwise, you can expect to receive a warning, in which you’ll have 24 hours to comply or to make the property compliant. You are responsible for any fines from the HOA due to your noncompliance.
- Renter’s insurance. We require renter’s insurance. It’s super cheap and easy to get. Usually, you can buy it through your auto carrier. If you need a referral, we can talk to you about the insurers in our system. This protects you and your landlord from any catastrophic event. It protects your property and gives you a place to stay while repairs are made after any covered loss.
We hope you’ve found this helpful. If you have any questions about your lease agreement, please contact us at Advantage Asset Management.