How do I trigger a rent review?

The rent review clause in the lease will state who can initiate the review process. Usually it will be either the landlord alone or both parties. Some leases do not require a formal procedure to be followed, and merely need one party to write to the other to initiate the review.

What should I know before signing a lease?

Landlords and tenants alike can miss details in the fine print, and it’s in your best interest to be fully informed about your lease as well as local laws. Ensure new tenants know that a lease agreement is legally binding before they sign it.

Do you have to be on the lease if you are a tenant?

Sometimes a tenant may view a lease only as a landlord protection but that is not the case. The lease protects the tenant as well. If there are issues that arise the lease is the contract that will determine how those issues are handled. The lease should address whether or not every occupant needs to be on the lease or not.

What should I do if I notice a violation on my lease?

If you notice a violation mid-lease, send your tenant an official notice if an item needs to be removed. You are also within your right to deduct from the security deposit the cost to remove the decoration or fix any damages once the tenant has moved out.

When to notify management of a guest on a lease?

Solution: Most lease agreements have language requiring a tenant notify management if a guest intends to be on the property longer than XX number of days. Management wants to make sure that all adults staying at the property for an extended period of time are approved and added to the lease if necessary.

How to review a commercial real estate lease?

Watch out for provisions that give the landlord the right to recapture the premises or terminate the lease in the event you seek to assign or sublease the space. On the flipside to exit strategy considerations, consider the possible need to expand your premises in the future.

What do you need to know about leasing a property?

As a tenant, you want to be assured that the landlord has the right to lease the premises to you and otherwise perform under the lease. Accordingly, it is important to verify that the landlord is, in fact, the record owner of the property.

What to do if tenant is not complying with lease?

Make sure you know your own local law in regard to lease compliance before proceeding. If they are responsible, your tenant will hopefully take care of the issue after a simple phone call, email, or letter. If more force is required, send them a notice.