Top 10 Questions To Ask Yourself to Make Sure You Know Your Lease

Even though 80% of renters admit they did not read their lease, it will be assumed by your landlord, property management company or even a judge that you’ve thoroughly read your lease before you signed it.  It doesn’t matter how long or complex the agreement is.  To simplify the process of getting to know your rental agreement, LeaseWisely has gathered 10 questions to ask yourself when familiarizing yourself with your lease.

We know “leasing ain’t easy”, so follow our recommended list and get to know your lease!

Question 1: How long is my lease term?

Most leases are usually for a 12-month period, but some property management companies and landlords may offer flexibility in their lease terms for shorter or longer timeframes.  Be aware of the Start and End Dates of your lease, as well as, the dates when you must provide your Notice of Renewal or Notice to Vacate.

Question 2: What is my actual monthly rent payment?

Believe it or not, your total rent amount is not only the rent!  To calculate your “True Rent”, use this formula:

True Rent = Base Rent + Utilities + Additional Fees + Deposits

Check the itemized list below to consider what may be applicable and budget appropriately:

  • Base Rent

  • Utilities

  • Parking Fees

  • Pet Fees

  • Amenity Fees

  • Maintenance Fees

  • Insurance Requirements

  • Security Deposits

  • Administrative Fees

  • Trash and Recycling Fees

  • Late Fees

  • 3rd Party Payment Processing Fees

  • HOA Fees 

  • Move In or Move Out Fees

  • Additional Occupant Charges

  • Optional Services

  • Storage

  • Taxes or Regulatory Fees


Question 3: When is rent really due, how do I pay it, and what happens if I do not pay on-time?

It is your responsibility to know when and how to pay your rent, so that your rent payments are made on time.  Each landlord or property management company differs in their specific rental payment process.  It is important to take notice of the due dates, grace periods, and payment processing times when planning payments.  Depending on the method of payment (online, check, cash only), processing times may vary and should be accounted for.  

It is also important to understand the cost of paying late since late fee policies differ between lease agreements.  Check to see if you have a one-time flat fee or daily fees and if they are a set amount or percentage of the owed amount.  It is also crucial to know how your payments are applied once there are late fees – do they go toward the base rent amount, other costs, or the fees first.  Finally, know your state rules for mandatory grace periods, maximum allowable late fee charges, and eviction filing.

Caution: Third Party Payment processors are often offered as a convenience to tenants, allowing the resident to make one payment that will be dispersed to the necessary service and utility providers.  At the end of each month, you will be billed for utility consumption and will be responsible for paying it directly to your landlord or processor. If there’s a dispute over your utility charges, you will need to confirm with your landlord if you need to contact them or the third-party company directly. You also need to be aware that when your landlord fails to pay the utility bill, your utilities may be cut off, even if you have paid your bill on time. If your landlord uses a third-party billing company, please confirm what recourse you have if your bills are paid on time but the landlord's negligence causes disruption in your service.

Question 4: Is my security deposit refundable and how do I get it back?

In general, security deposits are refundable if you do not break the terms of your lease and there is no damage to the unit. If you break your lease or cause damage to your rental property, your landlord will keep all or part of your security deposit to help cover those expenses.  In addition, check for clauses that state what happens when the landlord believes the repair costs exceeds the security deposit amount and the state mandated timing or having your security deposit returned.

Question 5: Is Renter’s Insurance Required?

Some landlords will require you to show proof or renter’s insurance prior to signing the lease.  Although it is nice to have the choice on whether or not you would like to invest in renter’s insurance, it is something you should research and consider.  Renter’s insurance protects your personal belongings against damage or loss from fire, theft, vandalism, or certain natural disasters, ensuring you don’t bear the financial burden alone. Additionally, it provides liability coverage, helping pay for legal or medical expenses if someone is injured in your rental home. Many policies also include loss-of-use coverage, which pays for temporary living expenses if your home becomes uninhabitable. With low monthly premiums and extensive protection, renter’s insurance is a valuable investment for any tenant.

Question 6: What is the pet policy?

Not everyone has a pet, but you never know if that may change throughout the life of the lease.  Review the policy to understand additional fees and the expectations of owning a pet, concerns from neighbors with pets, or any potential restrictions on visiting pets. Additionally, knowing the policy prepares you for future changes, like deciding to adopt a pet or subleasing to someone with one. It is important to stay informed to ensure compliance with lease terms and maintain a positive resident experience.

Question 7: Who’s responsible for maintenance?

Check your lease for clauses that explain who is responsible for repairs and what constitutes normal wear and tear.  Your lease may include responsibilities for smoke detector maintenance, air filter replacements, or other tasks.  It is important to know your role in these tasks in order to protect yourself from related costs to HVAC systems or in the case of damages from a fire.  Also, check for emergency maintenance guidelines and how you can access the 24/7 maintenance crew in case something happens. Know your procedure for submitting general maintenance requests for your unit and get confirmation on how long it normally takes for those requests to get resolved.

Question 8: When can my landlord enter my home and how much notice must they give?

Notice To Enter Rules ensure that the landlord or property manager does not enter your home without proper warning, except in emergencies. Tenants have a right to privacy in their rented home but be aware that if these rules aren't clearly defined, the state law will apply. Check the rules for your state and talk with your landlord about their process if you don't feel comfortable with the lease or state’s policy.

Question 9: How does my lease end? (Termination clauses, Renewals, Lease Extensions, Early Termination, & Subletting)

Identify the termination clauses within your lease agreement to find the procedures for ending or renewing your lease.  Your lease will specify a fixed end date, but may require advanced Notice of Renewal or Notice to Vacate. Renewal clauses outline whether the lease automatically renews, requires signing a new agreement, or transitions to a month-to-month basis which may include additional fees or an increased rent amount. Lease extensions may allow you to temporarily extend your stay under the same terms. Early termination clauses detail conditions under which you or the landlord can end the lease early, often involving penalties or fees. Subletting, if permitted, allows you to transfer your rental responsibilities to another tenant, subject to the landlord’s approval. Review these clauses to understand your options and obligations when it comes to the end of your lease.

Question 10: What other tenant rights, rules and responsibilities are there?

All properties and landlords are unique and may include additional rules about living in your new home.  Often these are added to maintain a safe environment or protect the property, but sometimes they can be unexpected.  Make sure to look for additional clauses that may outline rules for noise, smoking, guest behavior, parking, storage, or anything else that may be included.  Once your lease is signed, it is your responsibility to abide by this contract. 

It is also recommended to use tenant empowerment platforms like www.leasewisley.com to make sure you complete a comprehensive review of your lease.  It’s free, so why not?  After uploading your lease to the site, LeaseWisely will use our AI-empowered bot, Homey, to complete an exhaustive scan of your entire document in seconds.  You will be provided an easy-to-read format of the necessary information personalized from your rental agreement in plain English (or any other preferred language), so you don’t miss a thing!

Knowing your personalized answers to these questions will ensure you know your lease and put you on track for a great resident experience.  To make this process even easier and to truly protect your tenant rights, visit www.leasewisely.com and upload your lease for free. We’ll have these answers conveniently formatted and stored for you within seconds, so you can refer to them whenever needed.

LeaseWisely, my friend.