Residential Lease Agreement Basics

Charleston Residential Real Estate | South Carolina Residential Lease AgreementA residential lease agreement is an essential document for understanding the rules, protections and restrictions in residential real estate. A residential lease agreement can outline a flat rent fee and the timeline by which it needs to be paid. There could also be provisions concerning that rent that specify whether or not the landlord can change rent, whether or not their is a rent cap or maximum, whether or not the landlord has to personally notify tenants of rent changes, whether or not the landlord has to provide written receipts of rent, and how often the landlord can change the rent. This document is particularly useful to ensure adequate health standards are met. If the water quality appears unhealthy, the air conditioning unit breaks or a mold problem emerges, this agreement can offer tenants peace of mind that the landlord will be legally accountable to see these changes made. Oftentimes a lease agreement is binding and cannot be altered or edited at a later date. For this reason,  it is important to have a firm understanding a residential lease agreement before deciding to rent an apartment or property.

Issues between tenants may also have certain provisions in the residential lease agreement. The document could even create specific guidelines on the number of roommates and occupants, policies on pets, permissible appliances. This document can also create policies regarding the circumstance in which one roommate wishes to move out and the allowed time to find a replacement roommate. In the event of damage to rented property, the agreement could require damages to be billed equally to each tenant or it may covered by security fees or an insurance deposit.  In short, our Charleston real estate attorneys provide legal counsel on properly structuring a residential lease agreement in order to balance the needs of the tenants and the landlord.