Leasing Terms Glossary
Understanding your lease shouldn't be complicated. Here's a guide to common leasing terms.
Abatement
Free or reduced rent for a fixed period of time.
Above Building Standard
Upgraded finishes and specialized designs necessary to accommodate a tenant’s proposed leasehold improvements.
Accelerated Rent
Accelerated rent is a clause in some lease agreements that allows a landlord to demand the entire remaining rent owed for the duration of the lease if the tenant breaches the lease terms, such as by moving out early or failing to pay rent. This provision effectively speeds up the payment schedule, making the full amount due immediately instead of on a monthly basis.
Accessible
An accessible apartment is an apartment that’s able to be reached and occupied by a person with a physical disability. For a wheelchair user or person with mobility difficulty, this often includes lease — or government-specified items — like ramps, larger doors, adapted bathrooms, lowered light switches, wide hallways and elevator access. For people with hearing impairments, this might include doorbell and smoke alarm lamp signalers or bed shakers. For people with visual impairments, handrails and special lighting might be included.
Addendum
An addendum is a supplemental document added to a lease agreement that outlines additional terms, conditions, or modifications not included in the original contract. It serves to clarify or expand upon specific aspects of the lease without altering the main agreement.
Additional Living Expenses (ALE)
Additional Living Expenses (ALE) coverage pays for temporary housing, meals, and other costs if the rental becomes uninhabitable due to a covered event.
Administrative Fees
Administrative fees are charges imposed by a landlord, property management company, or service provider to cover the costs of managing and processing rental-related tasks. These fees are typically non-refundable and may be required at the start of a lease or during its term. Examples include: Lease Processing, Application Handling, Move-In Costs, General Management, or Peace of Mind fees.
Advance Payment
An advance payment is a payment made before the date of a financial obligation. In the context of rent, it refers to funds paid by a tenant to the landlord before the rent is due or prior to moving into the property. It is often used to secure the rental agreement and may cover the first month's rent, last month's rent, or both. Advance rent payments ensure the landlord receives financial commitment from the tenant and are typically outlined in the lease agreement.
Amenity Fees
Amenity fees are charges imposed by landlords or property management companies for access to special features, services, or facilities provided as part of a rental property. These fees may be a one-time charge, monthly addition to rent, or included as part of a bundled payment. Amenities may include, but are not limited to recreational facilities, community spaces, convenience services, parking, or technology.
Amenity Upkeep Fees
Additional costs for maintaining pools, gyms, or community spaces.
Americans with Disabilities Act (ADA)
The Americans with Disabilities Act (ADA) is a landmark civil rights law enacted in 1990 to prohibit discrimination against individuals with disabilities in various areas of public life. It ensures equal access to employment, public services, transportation, and public accommodations. The ADA requires businesses, employers, and public entities to provide reasonable accommodations, such as wheelchair ramps or accessible communication, to ensure inclusivity. The law also mandates that existing barriers be removed wherever feasible to create an equitable environment. Its goal is to promote equality, independence, and full participation for people with disabilities.
Application
A rental application is a formal document or online form submitted by prospective tenants to a landlord or property manager when seeking to rent a property. It provides the landlord with necessary information to evaluate the applicant’s qualifications and suitability for the rental unit. Typically includes personal information, job details, proof of income, rental history, credit and background checks, and other information such as pet ownership, number of occupants, or additional requirements. Rental applications often require an application fee and serve as the first step in the tenant screening process.
Application Handling Fees
Additional costs for Reviewing and processing rental applications or background checks.
Arrears Payment
To "Pay in Arrears" refers to a payment made after a service has been provided or a period has concluded. In the context of rent, it means the tenant pays rent at the end of the rental period, rather than at the beginning. For example, if a tenant pays for February’s rent on February 28th, they are paying in arrears. This method is less common for residential leases, where rent is typically paid in advance.
As-Is Condition
The acceptance by the tenant of the existing condition of the premises at the time the lease is consummated, including any defects.
Assignee
An assignee is a person or entity to whom rights, interests, or obligations are transferred under a contract or agreement. In the context of a lease, an assignee is the individual or party who takes over a tenant's lease obligations and rights from the original tenant (the assignor), often with the landlord's approval. The assignee assumes responsibility for rent payments, property use, and adherence to the lease terms.
Assignor
An assignor is a person or entity that transfers their rights, interests, or obligations under a contract or agreement to another party, known as the assignee. In the context of a lease, the assignor is the original tenant who transfers their lease obligations and rights, such as paying rent and maintaining the property, to the assignee, often with the landlord's approval. The assignor may still remain partially liable depending on the lease terms.
Attorn
A tenant’s agreement to recognize a new owner (including a foreclosing lender) as the new landlord and pay rent and otherwise perform under the existing lease.
Background Check
A background check is the process of reviewing an individual’s history, typically conducted to verify their qualifications, trustworthiness, or compliance with specific requirements. In the context of rentals, a background check is performed by landlords or property managers to assess a prospective tenant's suitability for leasing a property. Could include criminal history, credit reporting, rental history, and employment verification.
Base Rent
Base rent is the fixed, agreed-upon amount a tenant pays to the landlord for the use of a rental property, excluding any additional fees or costs. It represents the core charge for occupying the space and does not include utilities, maintenance fees, amenity fees, or other charges that may be outlined in the lease agreement.
Basis Point
An amount equal to one one-hundredth of one percent (0.0001); a shorthand expression to describe differences in interest rates, for example the difference between 7% and 7.1% is 10 basis points.
Benefits Package Fee
A Benefits Package Fee is a charge for providing additional services or perks to tenants, such as access to amenities, tenant insurance, concierge services, or bundled utility management. This fee enhances the leasing experience by offering value-added features beyond basic rent.
Black Mold
Black mold refers to a type of toxic mold, that thrives in damp, warm, and humid environments. It is often dark green or black in appearance and can grow on materials such as wood, drywall, carpet, and paper when moisture is present. Exposure can cause respiratory issues, allergies, skin irritation, and more severe symptoms in individuals with compromised immune systems. To remove requires professional remediation, especially for extensive infestations, to ensure safety and proper handling.
Breach
A lease breach occurs when either the tenant or landlord fails to fulfill their obligations or violates the terms outlined in the lease agreement. This breach can result in legal consequences, financial penalties, or termination of the lease. Common lease breaches by tenants are failing to pay rent on time, subletting without permission, violating pet policies, or causing severe damage to the property. Common lease breaches by landlords include entering the property without notice, failing to maintain a habitable living environment, or not addressing necessary repairs in a timely manner.
Breaking a Lease
Breaking a lease refers to a tenant or landlord terminating a rental agreement before the end of the lease term, typically in violation of the lease terms. This action is usually initiated by the tenant and may result in financial penalties, legal consequences, or obligations to pay remaining rent. Certain circumstances, such as military deployment, domestic violence, or habitability issues, may allow tenants to break a lease without penalties under local laws.
Broker Fees
Broker fees are charges paid to a real estate broker or agent for assisting in securing a rental property. These fees compensate the broker for services such as finding available rentals, arranging viewings, and facilitating lease agreements between tenants and landlords. Broker Fees are common in cities where rental markets are competitive. Tenants should inquire about broker fees upfront to understand their total rental costs and ensure transparency in the process.
Building Code
The various laws set forth by the ruling municipality as to the end use of a certain piece of property and that dictate the criteria for design, materials and type of improvements allowed.
Cleaning Services Fees
Additional costs for Regular cleaning of shared areas like hallways or lobbies.
Club House
A building that’s a shared space on a rental property. Clubhouses usually have office space, tables, couches, TVs, games and other entertainment options available for common use. Everyone in the rental property can access the clubhouse.
Co-signer
A third party who is legally responsible for the financial obligations under the lease if the tenant fails to pay rent and/or other money owed to the landlord. If you do not have someone to serve in this role, consult with your landlord or Student Legal Services about possible alternatives.
Co-Tenant
Co-tenants are two (or more) people who sign the lease with the intent that both or all will occupy the apartment and be equally responsible for rent and other lease provisions. Co-tenants have equal and shared accountability and legal rights under the agreement.
Common Area
the common areas are those areas within a building that are available for common use by all tenants or groups of tenants and their invitees (i.e. lobbies, corridors, restrooms, etc.). The cost of maintaining parking facilities, malls, sidewalks, landscaped areas, public toilets, truck and service facilities, and the like may be included in the term "common area" when calculating the tenant's share of common area expenses.
Community Management Fee
A Community Management Fee is a charge for services related to the upkeep and administration of shared spaces and amenities within a residential or commercial community. This fee typically covers expenses such as landscaping, security, common area maintenance, and staffing for property management.
Community Spaces
Community Spaces include lounges, co-working areas, or event rooms.
Comparables
Lease rates and terms of properties similar in size, construction quality, age, use, and typically located within the same sub-market and used as comparison properties to determine the fair market lease rate for another property with similar characteristics.
Concession
Cash or cash equivalents a landlord may offer a tenant in order to secure their tenancy. While rental abatement is one form of a concession, there are many others such as increased tenant improvement allowance, signage, lower than market rental rates and moving allowances are only a few of the many.
Condemnation
The process of taking private property, without the consent of the owner, by a governmental agency for public use through the power of eminent domain.
Condominium
A condominium, often referred to as a condo, is a type of private residential property within a larger complex or building, where individual units are owned by residents, while shared spaces and facilities are jointly owned and managed. Key features of a condo are private ownership, shared spaces, HOA management and HOA Fees. Condos are ideal for those who the benefits of homeownership with fewer maintenance responsibilities.
Conservation District Fee
Conservation Service Fee is a charge imposed to support efforts related to resource conservation and sustainability within a property. This may include funding for energy-efficient systems, water-saving initiatives, recycling programs, or the maintenance of environmentally friendly infrastructure.
Consumer Product Safety Commission (CPSC) Hotline
For information on lead in toys and other consumer products, or to report an unsafe consumer product or a product-related injury, call 1-800-638-2772, or visit CPSC’s website at cpsc.gov or saferproducts.gov.
Contractor
A contractor is an individual or company hired to perform specific tasks or services under a contract. Contractors operate independently from the hiring party, often providing specialized skills, such as construction, repairs, or consulting. Unlike employees, they are typically responsible for their own tools, expenses, and tax obligations.
Convenience Services
Convenience services provided by the landlord may include package lockers, valet trash pickup, or on-site laundry.
Covenant
A written agreement inserted into deeds or other legal instruments stipulating performance or non-performance of certain acts or, uses or non-use of a property and/or land.
Covenant of Quiet Enjoyment
See Quiet Enjoyment Clause
Credit Reporting Fee
A Credit Reporting Fee is a charge for processing and reporting a tenant's payment history to credit bureaus. This fee is often associated with maintaining accurate records of rental payments and may help tenants build or improve their credit scores through consistent reporting.
Default
Default is the general failure to perform a legal or contractual duty under a residential lease, such as not paying rent when due, or the breach of other non monetary lease covenants.
Defleaing Fee
A defleaing fee is a charge imposed to cover the cost of treating an area, such as a home, rental property, or vehicle, for flea infestations. This fee is typically associated with properties or situations involving pets, where fleas are a common concern.
Demising Wall
The partition wall that separates one tenant’s space from another or from the building’s common area such as a public corridor.
Deodorizing Fee
A Deodorizing Fee is a charge for eliminating unpleasant odors from a space, typically using cleaning agents, air treatments, or odor-neutralizing techniques. It is often applied in rental properties after use to restore a fresh and neutral scent.
Digital Leasing
Digital leasing is the process of managing rental agreements and related transactions entirely online, using digital tools and platforms. It streamlines the leasing process for landlords, property managers, and tenants by eliminating the need for physical paperwork and in-person interactions. Key features include online applications, e-signatures, document storage, communication tools that documented online, and secure online payment systems. Digital Leasing is an eco-friendly modern solution that enhances accessibility, transparency, and efficiency in the rental experience.
Distraint
The act of seizing (legally or illegally) personal property based on the right and interest which a landlord has in the property of a tenant in default.
Domicile
Domicile refers to a person’s permanent legal residence or home, where they intend to return and remain indefinitely, even if they are temporarily living elsewhere. It is a legal concept often used to determine matters such as taxation, jurisdiction, and eligibility for government benefits.
Drainage Fee
A Drainage Fee is a charge for managing and maintaining drainage systems that handle stormwater runoff on or around the property. This fee supports infrastructure that prevents flooding, erosion, and water pooling, ensuring proper water flow and environmental compliance.
Dwelling
A dwelling is a place where people live, typically referring to a structure or space designed for habitation. It can range from a house or apartment to any other type of residential accommodation. In legal or housing contexts, "dwelling" is often used as a broad term to describe a property intended for human habitation.
Early Termination
Early termination refers to ending a lease or rental agreement before the agreed-upon end date specified in the contract. This action can be initiated by either the tenant or the landlord and is usually subject to specific terms and conditions outlined in the lease agreement. Early termination clauses outline the notice requirement, any fees or penalties, and any legal exceptions. People often attempt Early Termination of their lease when they are relocated for work or personal reasons, face financial difficulties, or have roommate issues. Understanding the terms of early termination in your lease helps avoid disputes and ensures a smoother transition if ending the agreement becomes necessary.
Effective Rent
The actual rental rate to be achieved by the landlord after deducting the value of concessions from the base rental rate paid by a tenant, usually expressed as an average rate over the term of the lease.
Emergency Maintenance
Emergency maintenance refers to urgent repairs or actions taken to address issues in a rental property that pose an immediate threat to the health, safety, or security of tenants or could result in significant property damage if not resolved promptly. These situations require immediate attention, often outside normal business hours. Examples are gas leaks, fire or electrical hazards, severe water leaks, lack of essential utilities like heat during winter, or security concerns.
Emergency Service Fee
An Emergency Service Fee refers to a charge assessed to cover costs associated with emergency maintenance or urgent repairs required within a leased property. This fee may be applied for issues such as plumbing leaks, HVAC failures, or other critical situations that require immediate attention beyond standard maintenance.
Eminent Domain
A power of the state, municipalities, and private persons or corporations authorized to exercise functions of public character to acquire private property for public use by condemnation, in return for just compensation.
Emotional Support Animal (ESA)
An Emotional Support Animal (ESA) provides comfort or emotional support to individuals with mental health conditions like anxiety, depression, or PTSD. Unlike Service Animals, ESAs are not trained to perform specific tasks. They are covered under the Fair Housing Act (FHA) for housing, allowing ESAs to live in properties with "no pets" policies. However, they are not allowed in public places under the ADA.
Encroachment
The intrusion of a structure which extends, without permission, over a property line, easement boundary or building setback line.
EPA Renovation, Repair, and Painting (RRP) Rule (2008)
Regulates activities that disturb lead-based paint in homes, childcare facilities, and schools built before 1978. Contractors must be certified in lead-safe practices. Use of containment, cleanup, and specific techniques to minimize lead dust exposure.
EPA's Safe Drinking Water Hotline
For information about lead in drinking water, call 1-800-426-4791, or visit epa.gov/lead for information about lead in drinking water
Escalation Clause
A clause in a lease which provides for the rent to be increased to reflect changes in expenses paid by the landlord such as real estate taxes, operating costs, etc. This may be accomplished by several means such as fixed periodic increases, increases tied to the Consumer Price Index or adjustments based on changes in expenses paid by the landlord in relation to a dollar s or base year reference.
Essential Services
Essential services are fundamental utilities and facilities that a landlord is typically required to provide to ensure a rental property is safe and habitable. These services include water, electricity, heating, plumbing, and in some cases, trash removal and air conditioning, depending on local laws and lease agreements.
Eviction
Eviction is the legal process by which a landlord removes a tenant from a rental property due to violations of the lease agreement, such as non-payment of rent or property misuse. It typically requires formal notice and may involve court proceedings to enforce the removal. Evictions must comply with local laws to protect the rights of both tenants and landlords.
Fair Housing Act
The Fair Housing Act, enacted in 1968 and expanded over time, is a federal law that prohibits discrimination in housing-related activities based on race, color, national origin, religion, sex (including gender identity and sexual orientation), disability, and familial status. It applies to the sale, rental, financing, and advertising of housing. The law aims to ensure equal access to housing opportunities and is enforced by the U.S. Department of Housing and Urban Development (HUD). Violations can lead to complaints, investigations, and legal action, promoting fairness and inclusion in the housing market.
Fair Housing Laws
Fair Housing Laws are federal, state, and local regulations designed to prohibit discrimination in housing-related activities, such as renting, buying, or obtaining financing, based on certain protected characteristics. These laws aim to ensure equal access to housing opportunities for all individuals. These laws are overseen by the U.S. Department of Housing and Urban Development (HUD). Fair Housing Laws promote diversity, equality, and fairness in housing, helping to eliminate barriers and discriminatory practices.
Fair Market Comparables
See Comparables
Final Bill Fee
A Final Bill Fee typically refers to a charge included on the last bill issued to a customer when their service, subscription, or account is being closed or terminated. This may include outstanding charges, prorated costs, equipment costs, or final adjustments.
First Refusal Right
The right of an existing tenant to have the first option to re-lease a unit at the same rent price or under the same conditions before the space is publicly available for other people to rent or lease.
Fixed Term Lease
A fixed-term lease is a rental agreement that specifies a set period during which the tenant agrees to rent the property, such as six months, one year, or two years. During this time, the lease terms (like rent amount and responsibilities) remain unchanged unless both parties agree to modify the agreement. Fixed-term leases are ideal for tenants seeking stability and landlords looking for guaranteed rental income over a defined period. Fixed Term Leases are characterized by a specified duration and limited termination flexibility.
Force Majeure
Force majeure is a legal term derived from French, meaning "superior force." It refers to unforeseen and uncontrollable events that prevent one or both parties in a contract from fulfilling their obligations. These events are typically extraordinary circumstances beyond the control of the parties, such as natural disasters or government actions. If a rental property is destroyed by a natural disaster (e.g., a hurricane), the force majeure clause may excuse the landlord and tenant from continuing the lease obligations.
General Management Fees
General Management Fee are additional costs related to ongoing administrative tasks like account management or record-keeping
Grace Period
The Grace Period refers to a period after the rent due date (e.g., 3-5 days) during which no late fee is charged.
Guarantor
See Co-Signer
Guaranty
Agreement whereby the guarantor undertakes collaterally to assure satisfaction of the debt of another or perform the obligation of another if and when the debtor fails to do so. Differs from a surety agreement in that there is a separate and distinct contract rather than a joint undertaking with the principal.
Guest
A guest is a person who temporarily visits or stays at a property without being a permanent resident or tenant. In the context of rental properties, a guest is someone who is not listed on the lease agreement and does not have long-term rights or responsibilities for the property. A guest visits temporarily, while a resident lives in the property long-term and is listed on the lease. Many leases specify the maximum duration a guest can stay without being considered a resident (e.g., 14 days in a 6-month period) and tenants may need to notify the landlord or seek permission for extended guest stays.
Habitable
Habitable refers to a property being in a safe, clean, and functional condition suitable for living. It means the property meets basic health, safety, and structural standards, including access to essential services like water, electricity, and heating, and is free from hazards that could endanger occupants.
Hell-or-High Water Clause
A clause contained in most tax-exempt leases that holds the lessee responsible for its lease payments and all other obligations under the lease regardless of the status of the leased asset or any dispute between the lessee and any other party.This clause does not prevent the lessee from exercising its right to non-appropriate. In some states,such as California,the lease is altered to permit the lessee to terminate rental payments pursuant to an abatement clause.
HOA Fees
HOA fees are mandatory payments made by homeowners (and sometimes passed on to tenants) to a Homeowners Association (HOA) to fund the maintenance, management, and improvement of shared spaces and services within a residential community. These fees are typically paid monthly, quarterly, or annually. HOA Fees may cover maintenance, repairs, utilities, security, insurance, or reserve funds for community expenses. Tenants should be aware of HOA Fees if they are included in the rent or charges separately.
Hold Over Tenant
A tenant retaining possession of the leased premises after the expiration of a lease.
Holding Fees
A holding fee is a payment made by a prospective tenant to a landlord or property manager to reserve a rental unit while the application process is completed or until the lease starts. It ensures that the property is not rented to someone else during the agreed holding period.
Holdover
Holdover is when the tenant continues to remain in the space after the lease expires, holding over until a new lease is negotiated or the space is vacated. Tenant continues to be responsible for payment of lease expenses as called for in lease agreement.
Homewners Association, HOA
A Homeowners Association (HOA) is an organization in a residential community, such as a condominium, townhouse complex, or single-family home neighborhood, that establishes and enforces rules for properties and residents. Membership is typically mandatory for homeowners within the community, and fees are collected to maintain shared spaces and amenities. Tenants should be aware of how the HOA’s rules and regulations may impact their rental experience.
Housing Choice Voucher Program
The Housing Choice Voucher Program, also known as Section 8 of the US Housing Act of 1937, is a federal assistance program in the U.S. designed to help low-income families, elderly individuals, and people with disabilities afford safe and decent housing in the private rental market. Administered by local Public Housing Authorities (PHAs) and funded by the U.S. Department of Housing and Urban Development (HUD), the program subsidizes a portion of the rent, with tenants typically paying 30% of their income toward housing costs. Landlords must meet certain property standards and agree to accept vouchers. Section 8 promotes housing stability and flexibility by allowing participants to choose their residence within program guidelines.
HVAC
The acronym for “Heating, Ventilating and Air-Conditioning”.
Inspection
An inspection is a formal evaluation or assessment of a property to ensure it meets established standards, is functioning correctly, or complies with legal or contractual requirements. In the context of rentals, inspections are conducted to document the condition of a rental unit or ensure tenant compliance with lease terms. Tenants will typically see these types of inspections: Move-In Inspection, Routine Inspection, Move-Out Inspection, and Safety Inspection.
Inspection Fee
An Inspection Fee is a charge for conducting a formal review of a rental property to assess its condition. This may include move-in, move-out, or periodic inspections to document the property's state, ensure compliance with lease terms, and identify any necessary repairs or maintenance.
Inspection Report
An inspection report is a formal document created after a property inspection to record the findings, including the condition of the property, any issues observed, and recommendations for repairs or maintenance. In the context of rentals, inspection reports are used to document the state of the property at key stages, such as move-in, routine checks, or move-out. An inspection report will include detailed observations of the condition of walls, floors, appliances, fixtures, and other property conditions. Also may include supporting evidence such as photos or videos. The document should be signed by both the tenant and the landlord to confirm agreement on the findings.
Insurance Premium
An insurance premium is the amount of money a policyholder pays to an insurance company, typically on a monthly, quarterly, or annual basis, to maintain coverage under an insurance policy. The premium is determined based on various factors, including the type of insurance, coverage limits, and the policyholder’s risk profile. Premium amounts vary by policy type, such as health, auto, renter’s, or homeowner’s insurance, and are a critical factor in choosing an insurance plan that balances affordability with adequate protection.
Kitty
A combined fund between apartment co-tenants for non-rent financial responsibilities, such as groceries, cleaning supplies and utilities. Usually, all parties agree to contribute equally to the kitty rather than on a per-use or amortized basis.
Landlord
A landlord is an individual, company, or organization that owns or manages a rental property and leases it to tenants in exchange for rent. The landlord is responsible for maintaining the property, addressing repairs, and ensuring it meets legal standards for habitability. The landlord is your primary point of contact regarding any issues with your property. Having the correct name and contact information ensures you know who reach out to when there is an issue. Landlords are responsible for providing a habitable property, addressing maintenance and repairs in a timely manner, drafting and enforcing the terms of the lease, and adhering to local landlord-tenant laws. Landlords play a key role in maintaining the rental property and fostering a positive relationship with tenants.
Landlord and Tenant Board (LTB)
The Landlord and Tenant Board (LTB) is a quasi-judicial tribunal in Ontario, Canada, established under the Residential Tenancies Act (RTA). Its primary role is to resolve disputes between landlords and tenants and provide information about their respective rights and responsibilities under the law.
Landscaping Fees
Additional costs for Lawn care, snow removal, or gardening in shared spaces
Late Fee
A late fee is a penalty charged to a tenant, customer, or borrower when a payment is not made by its due date. In the context of a lease, it is an additional amount the tenant must pay if they fail to pay rent on time, as specified in the lease agreement. Late fees are meant to encourage timely payments and compensate the landlord for potential inconvenience or financial disruption caused by the delay. Late fees typically can be assessed as a fixed dollar amount or a percentage of the rent payment and can be accumulated daily or by period.
Lead-Based Paint Poisoning Prevention Act (LBPPPA) of 1971
One of the first federal laws addressing lead hazards in housing. It banned the use of lead-based paint in federally assisted housing. Later amendments addressed removal and reduction of lead hazards in federally funded housing projects.
Lead-Paint
Lead paint is a type of paint that contains lead, a toxic metal, as one of its key components. It was commonly used in homes, buildings, and consumer products before its health risks were widely recognized. The use of lead-based paint was banned for residential properties and public buildings in the U.S. in 1978 due to its harmful effects, especially on children. Lead was added to paint to enhance durability, moisture resistance, and color vibrancy, but as lead paint deteriorates, it produces toxic dust and chips that can be inhaled or ingested. Lead paint poses serious health risks, particularly to children and pregnant women, making proper identification and management essential in older properties.
Lease
A lease is a legal agreement between a landlord (the owner of a property) and a tenant (the renter) that outlines the terms and conditions under which the tenant may use the property for a specific period of time.
Lease Agreement
See Lease
Lease Allowance
Lease allowances are money or items that the landlord makes available to the tenant to use in ways to customize the rental space. Examples: new outlets every 3 years, improvements up to $50k during the initial lease term.
Lease Broker
A Lease Broker is a professional or company that acts as an intermediary between landlords and tenants to facilitate lease agreements for residential, commercial, or industrial properties. They help clients find suitable rental spaces, negotiate lease terms, and finalize agreements. Lease brokers typically earn a commission or fee for their services, often paid by the landlord, tenant, or both.
Lease End Date
The lease end date is the final day of the rental agreement, as specified in the lease contract. This date marks the end of the tenant’s legal right to occupy the property under the existing terms, unless the lease is renewed, extended, or transitioned to a month-to-month agreement. Your end date is important to determine move-out requirements, renewal deadlines, security deposit considerations, and legal obligations.
Lease Lesson
A "lease lesson" is like a crash course in rental wisdom—it comes from diving into the fine print or real-life experiences with a lease and from living the "Lease Life". It’s all about empowering tenants to avoid common mistakes, learn best practices, and master their legal agreement for a smooth Resident Journey. Think of them as your guide to decoding lease terms and leveling up your rental game!
Lease Life
The "Lease Life" is the full journey of renting, from the moment you sign on the dotted line to the day you get your deposit back (or renew for another round). It’s all about the highs and lows of the tenant-landlord relationship—settling in, paying rent, making memories, navigating responsibilities, and keeping things smooth until the next chapter. Whether you're mastering the art of move-ins, tackling repairs, or prepping for move-out day, if you have a lease or help with a lease, you are living "The Lease Life".
Lease Line of Credit
A Lease Line of Credit is a flexible financing arrangement that allows businesses or individuals to access funds specifically for leasing assets. Instead of applying for a new lease each time, the borrower can draw from the pre-approved credit line as needed. Payments are made based on the amount used, offering convenience and scalability for leasing needs.
Lease Processing Fees
Lease processing fees are additional costs for preparing and executing the lease agreement.
Lease Start Date
The lease start date is the official date when a rental agreement begins, and the tenant gains legal rights to occupy the property. It marks the start of the lease term and sets the timeline for rent payments, tenant responsibilities, and other obligations outlined in the lease. The Lease Start Date begins the legal obligations for both the tenant and landlord. This includes payment responsibilities, property access, and adherence to rules and regulations. The Lease Start Date provides a clear timeline for move-in, payment schedules, and other lease-related activities and will be used in the end date calculation. Please confirm that your official start date (which may be different than your signature date) is clearly defined.
Lease Term
The length of the lease, which can be fixed-term (e.g., 12 months) or month-to-month.
Lease-Purchase Agreement
See Tax-Exempt Lease
Leasing Consultant
A leasing consultant is a professional who assists property management companies, landlords, and prospective tenants in renting residential or commercial properties. They serve as the main point of contact for potential renters, guiding them through the leasing process and ensuring a smooth transition into the property.
Legalese
Legalese refers to the formal, often complex and technical language used in legal documents, contracts, and official communications. It is characterized by long sentences, archaic terms, and specialized jargon that can make it difficult for non-lawyers to understand. It ensures precision and clarity within a legal context, but it can also create barriers to accessibility for the general public. Efforts to simplify legalese aim to make legal documents more user-friendly and transparent.
Lessee
See Tenant
Lessor
See Landlord
Liability Protection
Liability Protection covers legal or medical expenses if someone is injured in your rental or if you accidentally damage someone else’s property
License Fee
A License Fee refers to a charge associated with granting a tenant or lessee the right to use or occupy a property or specific service under a license agreement, rather than a traditional lease. It typically applies to flexible or short-term arrangements, such as co-working spaces, storage units, or certain residential setups.
Long Term Lease
In most markets, this refers to a lease whose term is at least three years from initial signing until the date of expiration or renewal option.
Mail Sorting Fee
A Mail Sorting Fee is a charge for handling and organizing tenants' mail and packages, which may include receiving, sorting, storing, and notifying tenants of deliveries to ensure efficient and secure mail management.
Maintenance Fees
Maintenance fees are charges imposed by landlords, property management companies, or homeowners’ associations (HOAs) to cover the costs of upkeep, repairs, and general maintenance of the rental property or common areas. These fees ensure the property remains in good condition and that facilities are functional and safe for tenants. Examples include: Landscaping, Repairs, Amanity Upkeep, Cleaning Services, Utility Infrastructure. These fees may be included in the rent or charged separately.
Mediation
Mediation is a formal (and often legal) arbitration with an impartial third party employed to resolve disagreements between you and your landlord. Your lease may spell out conditions as to when mediation may be engaged and who will do the mediating.
Mixed-Use
Space within a building or project providing for more than one use (i.e., a loft or apartment project with retail, an apartment building with office space, an office building with retail space).
Month-to-Month
A month-to-month lease is a rental agreement where the tenant rents the property on a monthly basis, with no fixed end date. This type of lease automatically renews each month until either the tenant or landlord gives proper notice to terminate the agreement. Month-To-Month leases typically require 30 days notice to terminate and often require additional fees or an increased rent amount. While month-to-month leases offer freedom, tenants should be aware of potential rent increases or the risk of short-notice termination.
Move-In
Move-in refers to the process of a tenant officially beginning their residency in a rental property. It typically occurs on the lease start date and involves the tenant transferring their belongings into the property and settling into their new home. Move-in may include the lease signing, payments of first month's rent and security deposit, a move-in inspection, key handover, and/or utilities set up.
Move-In Fee
A Move-In Fee is a non-refundable charge that covers the costs associated with preparing a rental unit for a new tenant, such as cleaning, key duplication, administrative tasks, or setting up amenities and utilities.
Move-In Inspection
A move-in inspection is a process conducted by a landlord and tenant before the tenant moves into a rental property to document the condition of the property. The purpose is to create a record of any existing damage or issues to avoid disputes when the tenant moves out. Move-In Inspections include condition documentation, checklists and are meant to protect the tenant and landlord from potential disagreements over the wear and tear of the home over time. Tenants should keep a copy of the inspection report and photos for their records to ensure a smooth move-out process. See the LeaseWisely.com move-in inspection checklist here.
Move-Out
Move-out refers to the process of a tenant vacating a rental property at the end of their lease or rental agreement. It involves the tenant removing their belongings, returning the property to the landlord, and completing any final obligations. Move-Out processes include providing a Notice to Vacate, cleaning the property, final inspections, Security Deposit allocation, and key/access return.
Move-Out Fee
A Move-Out Fee is a charge for services related to the end of a tenant's occupancy, such as final cleaning, property inspection, administrative processing, or minor repairs required to restore the unit to its original condition.
Move-Out Inspection
A move-out inspection is a process conducted by a landlord or property manager, often with the tenant, to assess the condition of a rental property when the tenant is vacating. The purpose is to compare the property’s current state to its condition at move-in, accounting for normal wear and tear, and to identify any damages or issues that may require repair. Move-out inspections include a property assessment, comparison to the move-in inspection, security deposit review, and any final obligations listed in an itemized list of deductions or charges.
Moving Insurance
Moving insurance is a type of coverage that protects your belongings from damage, loss, or theft during the process of moving to a new home or rental property. It ensures financial compensation or repair for items that are damaged or lost in transit, whether by professional movers or during a DIY move. Types of Moving Insurance are Basic Carrier Liability, Full-Value Protection, third-party insurance, and renters insurance.
Multi-Family Home
See Multi-Family Residence
Multi-Family Residence
A multi-family residence is a type of housing property designed to accommodate multiple separate living units for different families or individuals within a single building or complex. Each unit typically has its own entrance, kitchen, bathroom, and living spaces, making it suitable for independent occupancy. Types of MFRs are Duplex/Triplex/Quadplex, Apartment Complexes, Townhomes, or Condos. They often feature shared spaces, rental and ownership options, and have a higher density design to house multiple families. They are popular in urban and suburban areas because they provide housing options at various price points and create community-style living.
National Tenants Bill of Rights
In June 2024, The National Housing Law Project, National Low Income Housing Coalition, and Tenant Union Federation created The National Tenant Bill of Rights (TBOR) outlining seven essential rights that establish a baseline of tenant protections in the rental housing market: 1. The Right to A Fair Application, 2. The Right to A Fair Lease, 3. The Right to Freedom from Discrimination and Harassment, 4. The Right to Habitable Homes, 5. The Right to Reasonable Rent and Costs, 6. The Right to Organize, 7. The Right to Safeguards Against Eviction
Net Lease
See Triple Net Lease
New Account Fee
A New Account Fee is a one-time charge for establishing utility services under a new tenant's name. This fee typically covers administrative tasks, account setup, and activation of services such as water, electricity, or gas.
Non-Disturbance Agreement
A Non-Disturbance Agreement is a legal contract between a tenant, landlord, and the landlord’s lender that ensures the tenant’s lease remains intact and they can continue occupying the property if the landlord defaults on their loan and the lender takes over the property. It protects the tenant from eviction due to foreclosure, provided they comply with the lease terms. The non-disturbance agreement provides protection for the tenant guaranteeing that the lease won't be terminated solely because of foreclosure. This agreement ensures stability for the tenant even if ownership of the property changes due to financial issues with the landlord.
Non-Sufficient Funds (NSF) Fee
A Non-Sufficient Funds (NSF) Fee is a penalty charged when a payment, such as a rent check or electronic transfer, is returned unpaid due to insufficient funds in the payer's account. This fee compensates the landlord or property management for the inconvenience and administrative costs of handling the failed payment. It is typically a fixed fee, often outlined in the lease agreement, and may vary by landlord or local regulations.
Notice Fee
A Notice Fee is a charge imposed for the landlord or property management provider issuing or processing formal notices, such as reminders, warnings, or legal notifications, typically related to contracts, payments, or obligations.
Notice of Entry
A Notice to Enter is a formal notification from a landlord or property manager to a tenant, informing them of the intent to access the rental property for specific purposes. This notice ensures compliance with tenant privacy laws and lease agreements, which typically require advance notification before entry. RIght of Entry 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 if these rules aren't clearly defined, the state law will apply. The Notice to Enter balances a landlord’s need to maintain and manage their property with the tenant’s right to privacy, fostering transparency and trust between both parties.
Notice to Vacate
A Notice to Vacate (NTV) is a formal written communication from either a tenant or a landlord to indicate the intention to end a lease agreement and vacate the rental property. This document specifies the date the tenant plans to move out or the landlord expects the tenant to leave. The NTV process may require specific information like the Sender, the notice period, the reason for vacating, and a specific method of delivery. It is important to understand state and local regulations to be sure your process is in legal compliance. Giving proper notice and adhering to the documented process helps avoid penalties or even losing your security deposit.
Obligation
Any written promise or commitment to pay money or take certain actions
Occupancy
Occupancy refers to the act of living in or using a property, building, or space for residential, commercial, or other purposes. In the context of rental properties, occupancy typically denotes the presence of tenants who have the legal right to reside in the property based on a lease or rental agreement.
Occupancy Affidavit
An Occupancy Affidavit is a legal document in which an individual, typically a tenant or homebuyer, declares their intent to occupy a property as their primary residence. This affidavit is often required in situations involving loans, rental agreements, or specific housing regulations to ensure compliance with occupancy terms. An Occupancy Affidavit protects landlords, lenders, and housing authorities by ensuring properties are used as intended and preventing fraudulent or unauthorized use.
Occupancy Fees
Occupancy fees are charges imposed by a landlord or property management company for additional occupants living in a rental property beyond those listed in the original lease agreement. These fees compensate for the increased wear and tear, utility usage, or added strain on property amenities caused by extra residents. Landlords use occupancy fees to account for increased costs or potential risks associated with extra tenants, ensuring fair use of the property and resources.
Occupancy Limits
Rental agreements or local laws may set limits on the number of people who can live in a unit based on its size or zoning regulations.
Occupancy Rate
In commercial or multi-family settings, it refers to the percentage of units or spaces that are currently rented or used.
Online Payment Fee
An Online Payment Fee is a charge applied for processing transactions made through online payment methods, such as credit cards, debit cards, or digital wallets, often to cover processing costs or convenience services.
Online Portal
An online, self-service hub for renters where they may find information about the property, pay rent, renew a lease, submit maintenance requests, build community with neighbors, and more.
Package Acceptance Fee
A Package Acceptance Fee is a charge for receiving, handling, and securely storing packages or deliveries on behalf of an individual, typically at a property management office, apartment complex, or similar facility.
Paperless Leasing
Paperless leasing is a fully digital process for managing rental agreements, eliminating the need for physical paperwork. It allows landlords, property managers, and tenants to handle all leasing activities—such as applications, lease signing, and payment processing—electronically through online platforms.
Parking
Parking refers to reserved spaces, garages, or secure parking lots.
Parking Fees
Parking fees are charges imposed by a landlord, property management company, or facility operator for the use of parking spaces associated with a rental property or building. These fees are typically separate from the base rent and may vary depending on the type of parking or location. They can include types of parking (reserved, garages, covered spots, or open lot), Fee structure (monthly, annually, one-time), and restrictions on number of vehicles or spaces.
Pass Through Expenses
Pass Throughs refer to the tenant's share of operating expenses (i.e. taxes, utilities, repairs) paid in addition to the base rent.
Payment
Payment refers to the act of transferring money or another agreed-upon form of compensation from one party to another in exchange for goods, services, or to fulfill a financial obligation. In rental agreements, it typically refers to the transfer of funds from the tenant to the landlord for rent or associated fees.
Payment
A payment is the transfer of money, goods, or services from one party to another in exchange for fulfilling an obligation, such as a purchase, debt, or agreement. Payments can be made through various methods, including cash, checks, electronic transfers, or credit. It is a fundamental part of financial transactions and ensures the completion of a contractual or agreed-upon exchange.
Payment Allocation
Payment Allocation or the order of payment application refers to the sequence in which payments made by a debtor (e.g., a tenant) are applied to different charges or obligations owed to a creditor (e.g., a landlord). This order is typically outlined in contracts or agreements to ensure clarity and consistency in how payments are allocated. An common example of how payments are applied to an owed amount would be: First: Late fees or penalties, Second: Outstanding charges (e.g., utilities or maintenance fees), and Third: Current rent or principal balance. Establishing a clear order of payment application minimizes disputes and ensures that payments are properly allocated, particularly when partial payments are made. It protects both parties by defining how funds are distributed among various obligations.
Payment Processing Fees
Payment processing fees are charges incurred by landlords, businesses, or service providers when handling payments made by tenants or customers through certain methods, such as credit cards, debit cards, or online payment platforms. These fees are typically passed on to the tenant or customer to offset the cost of using these payment services. Be sure to check if the fee is transaction-based or a one-time setup fee. Understanding these fees helps tenants choose cost-effective payment methods and avoid unexpected charges.
Payment Terms
The frequency with which lease payments are made. Payments may be made monthly, quarterly, semi-annually, or annually. Payments can be made in arrears or in advance.
Peace of Mind Fee
A Peace of Mind Fee may cover any routine requested services such as extermination or lockouts that may not be defined elsewhere in the lease.
Personal Property Coverage
Personal Property Coverage protects against damage or loss of personal belongings, such as furniture, electronics, and clothing.
Pest Control
Pest Control is the management, regulation, or extermination of species classified as pests, typically because they are considered harmful to human health, property, or the environment. Pest control involves various methods and strategies aimed at preventing, reducing, or eliminating pests to maintain a safe and healthy environment. Common pests include insects and rodents, but may also include weeds or mold.
Pest Control Fee
A Pest Control Fee is a charge incurred for services related to the extermination, prevention, or regulation of species classified as pests
Pet
A pet is a domesticated animal kept for companionship or enjoyment without any special training or legal designation. Pets are subject to property rules, including pet deposits, fees, and breed restrictions, as defined by the landlord.
Pet Deposit
A pet deposit is a refundable amount of money paid by a tenant to a landlord at the start of a lease to cover potential damages caused by a pet during the rental period. The deposit is separate from the security deposit and is intended specifically for issues related to pets, such as scratches, stains, or odors. A pet deposit is refundable if no damage occurs, while a pet fee is non-refundable.
Pet Fees
A pet fee is a one-time, non-refundable charge imposed by a landlord or property management company for allowing a tenant to have a pet in a rental property. It is designed to cover potential extra cleaning or minor wear and tear caused by the pet. A pet fee is non-refundable, while a pet deposit is refundable if no damage occurs.
Pet Policy
A pet policy is a set of rules and guidelines established by a landlord or property management company regarding the ownership and care of pets in a rental property. It is included in the lease agreement to outline expectations and conditions for tenants who own or plan to own pets. Pet policies will outline allowed pets, fees/deposits, behavioral expectations, restricted areas, the approval process, and non-compliance consequences.
Pet Rent
Pet rent is a recurring monthly fee charged by landlords to tenants who have pets in a rental property. It is a non-refundable cost intended to account for the increased wear and tear, maintenance, or potential property damage associated with pets. Pet rent is a standard charge in pet-friendly properties and varies depending on the landlord, property type, or the pet's size and breed.
Porch Pirate
A porch pirate is a thief who steals packages that have been delivered to a home or apartment but left unattended, typically on a porch, doorstep, or mailbox area. These individuals take advantage of the rise in online shopping, often targeting residences where deliveries are left in plain sight or shared spaces.
Pro-rata
Proportionately; according to measure, interest, or liability. If a tenant occupies a property for only part of the month, their rent is calculated on a pro-rata basis based on the number of days they occupy the property.
Profiling
An illegal discriminatory practice and pattern of refusing to rent to or rejecting a potential tenant based on their race or ethnicity or another protected status, such as disability or religion, often through deceptive or surreptitious means.
Promise to Pay
A Promise to Pay is a formal commitment, often written, in which one party (the debtor) agrees to pay a specific amount of money to another party (the creditor) within a set timeframe or under certain terms. It is commonly used in financial agreements, rental arrangements, or debt settlements to outline repayment obligations.
Property Management Provider (PMP)
A property management provider is a company or individual hired by a property owner to oversee the day-to-day operations, maintenance, and administrative tasks of rental properties. They act as an intermediary between landlords and tenants, ensuring the property is well-maintained and lease agreements are adhered to. Property management providers are especially useful for owners of multiple properties or those who cannot manage their properties directly. The PMP's main responsibilities are tenant management, advertising vacancies, coordinating repairs and property upkeep, financial administration, and ensuring compliance. Some landlords see the benefits of hiring a PMP as providing expertise and efficiency in property operations, free up the property owners time, and enhancing tenant satisfaction through a professional service.
Prorate
To prorate means to calculate and allocate costs or charges proportionally based on the actual usage or time involved. In the context of rent, prorating occurs when a tenant only occupies the property for part of a rental period, such as moving in or out mid-month. The landlord calculates the rent for the partial period based on the number of days the tenant occupies the unit.
Protect Your Family from Lead in Your Home pamphlet
The "Protect Your Family from Lead in Your Home" pamphlet, published by the EPA, HUD, and CDC, provides essential information about the risks of lead exposure in homes built before 1978 and offers practical steps to minimize these risks, particularly for children and pregnant women. The pamphlet educates families about lead hazards, encourages proactive prevention, and highlights the importance of lead-safe practices to protect health and ensure a safe living environment. It is required reading for tenants and buyers of homes built before 1978 during rental or sales transactions.
Provision
A provision is a specific clause or condition included in a legal document, contract, or agreement that outlines a particular obligation, requirement, or arrangement. Provisions are designed to clarify terms, set expectations, and ensure compliance between parties involved.
Punch List
An itemized list or items to repair or fix, typically prepared by the landlord or maintenance vendor, documenting incomplete or unsatisfactory items after the tenant has completed their move-in inspection.
Purchase Option
A provision that gives the tenant the opportunity to purchase the leased property at a specific time in the lease or at the end of the lease term by paying the then outstanding principal,accrued interest, and any prepayment premiums.
Quiet Enjoyment
A term often found in leases meaning you have an inherent right to peaceful and pleasurable use of your apartment within accepted standards. This protects your basic rights to not by overly bothered by your landlord.
Quiet Enjoyment Clause
A provision in the lease which specifically states that so long as a tenant is not in default, the tenant shall be entitled to the quiet use and enjoyment of the property and the lessor or assignees shall not interfere or otherwise obstruct such use. This is the essence of the landlord's agreement and the tenant's obligation to pay rent. This means that if the landlord breaches this warranty, it constitutes an actual or constructive eviction. May also be referred to as the "Warranty of Possession" or "Covenant of Quiet Enjoyment".
Rebate
A rebate is a partial refund or discount provided to a buyer after they have paid the full price for a product or service. Rebates are typically used as an incentive to encourage purchases or reward customer loyalty. In the context of rentals or leases, a rebate might be offered to tenants as a promotion, such as waiving a portion of the first month’s rent or providing a refund for timely payments over a period.
Recreational Facilities
Recreational facilities include amenities such as pools, gyms, fitness centers, or sports courts.
Refund
A refund is the return of money to a payer, typically issued when a product is returned, a service is not delivered as promised, or an overpayment has occurred. In the context of rentals, a refund may occur if a tenant overpays rent, cancels a payment for services not rendered, or is entitled to the return of a deposit, such as a security deposit, after fulfilling the lease terms.
Registration Fee
A Registration Fee is a one-time charge associated with the administrative process of registering a tenant’s lease agreement. This fee may cover tasks such as processing paperwork, setting up the tenant in the leasing system, or complying with local regulations requiring lease registration.
Renewable Lease
A lease written initially for a short term (commonly one or two years) which is renewable for subsequent similar terms until a full term is reached. Renewal may occur automatically unless the lease is specifically terminated by the lessee.
Renewal
A renewal refers to the process of extending or continuing an existing lease or rental agreement for another term. It typically occurs when the initial lease term ends, and both the tenant and landlord agree to maintain the rental relationship under either the same or modified terms. A renewal will include the agreement extension, notice period, updated terms, and the type of renewal: Fixed Term or Month-to-Month. Renewals provide continuity for tenants and landlords, minimizing the need for new agreements or tenant searches.
Rent
Rent is the amount of money or compensation the tenant pays to live in the home and when payments are due.
Rent Control
Rent control is a government-regulated policy that sets limits on how much landlords can charge for rent and how often rent can be increased. The goal is to maintain affordable housing and protect tenants from excessive rent hikes, especially in high-demand or economically strained areas.
Rent Freeze
A rent freeze is a regulatory measure that temporarily prohibits landlords from increasing rent on existing leases for a specified period. Purpose is to provide financial relief to tenants facing economic hardship, stabilize housing markets in times of crisis, and prevent displacement and housing insecurity.
Rent Withholding
Rent withholding is a legal action taken by a tenant where they temporarily stop paying rent due to the landlord's failure to address significant issues affecting the property's habitability, such as unsafe living conditions or lack of essential services. The withheld rent is often kept in an escrow account until the problem is resolved. Please check your state laws regarding rent withholding before stopping or holding any payments.
Rentable Space
The rentable space is the space you occupy plus the proportionate share (percentage of the building you occupy) of common areas such as rest rooms, lobbies and stairways.
Rental Application Fee
A rental application fee is a non-refundable charge paid by prospective tenants when submitting a rental application to a landlord or property management company. This fee covers the cost of processing the application, including background checks, credit checks, and administrative tasks.
Renters Insurance
Renters insurance is a type of insurance policy that provides financial protection for tenants renting a home or apartment. It covers personal belongings, liability, and additional living expenses in the event of unexpected incidents like theft, fire, or certain natural disasters. It is important to consider the following when purchasing renters insurance: personal property coverage, liability protection, additional Living Expenses (ALE), and the premium. Renters insurance often does not cover damage to the building structure because that should be covered in the landlord's insurance or certain natural disasters like floods unless additional coverage is purchased. Renter’s insurance is an affordable way to protect against unexpected financial losses and is often required by landlords as part of the lease agreement.
Repair Fees
Additional costs for Fixing plumbing, electrical, or structural issues.
Resident
A resident is a person who lives or occupies a home, apartment, or other property as their primary place of dwelling. In the context of rental properties, a resident is typically a tenant who has signed a lease agreement or is legally authorized to live in the rental unit. A resident lives in the property long-term, whereas a guest is a temporary visitor. Residents are accountable to the landlord for fulfilling the terms of the lease, including rent payments, utilities, and adherence to community or property rules.
Resident Journey
The resident journey refers to the complete experience of a tenant, from the initial search for a rental property to their eventual move-out and beyond. It encompasses all interactions and touchpoints between the resident and the landlord, property management, or community during their time at the property. Phases of the resident journey include Lease Evaluation, Move-In, Living Experience, Renewal or Vacate, Move-Out, and the Security Deposit Return. Understanding and improving the resident journey helps property owners and managers create a positive living experience, leading to higher satisfaction, better retention rates, and a stronger reputation.
Residential Land Lease
Used to lease land to an individual that they can put a structure on. Mobile home parks often use residential land leases, as the people in these parks may own their mobile home but not the land on which that mobile home sits. The park then charges “rent” every month for the space, or the land itself, as opposed to the structure or the building in which the person lives. These lease terms may be much longer than a year, and more open-ended and without penalties.
Residential Lead-Based Paint Hazard Reduction Act (Title X, 1992)
Mandates disclosure of lead-based paint hazards in housing built before 1978. Sellers and landlords must provide buyers and tenants with a Lead-Based Paint Disclosure Form. Tenants must receive the EPA's "Protect Your Family from Lead in Your Home" pamphlet. Buyers have the right to a 10-day period to conduct a lead inspection or risk assessment.
Residential Rental Occupancy Permit
A Residential Rental Occupancy Permit is a document issued by a local government or housing authority that certifies a rental property meets the required safety, health, and zoning standards for occupancy. It is often mandatory for landlords to obtain this permit before allowing tenants to occupy a rental unit. A Residential Rental Occupancy Permit promotes tenant safety and ensures that rental properties comply with local laws and standards. It also provides a legal framework for landlords to operate rental units responsibly.
Residential Tenancies Act (RTA)
The Residential Tenancies Act (RTA) is the primary legislation in Ontario, Canada, governing the relationship between landlords and tenants in residential rental housing. Enacted in 2006, it sets out the rights and responsibilities of both parties, provides rules for rent regulation, and establishes processes for dispute resolution through the Landlord and Tenant Board (LTB).
Restrictions on Use
Restrictions on Use define activities that are prohibited on the premises of the renter’s unit, or certain actions that renters are prevented from taking under the terms of the lease agreement. For example, there may be restrictions on whether a renter may operate a business from within their residential unit, restrictions on subletting, restrictions on the number of occupants who reside in the unit, restrictions on smoking, or on any other activity the property management company wishes to prohibit or regulate.
Right to Non-Appropriate
The Right to Non-Appropriate refers to a legal or contractual provision that prohibits the use or allocation of funds, resources, or property for purposes other than those explicitly authorized. It ensures compliance with intended uses and prevents misuse or misdirection. This concept is often applied in government or organizational budgeting to safeguard against unauthorized spending.
Routine Inspection
Routine Inspections are conducted periodically to check for maintenance needs and lease compliance.
RRP Projects
RRP Projects refer to activities governed by the EPA’s Renovation, Repair, and Painting (RRP) Rule, which regulates work that disturbs lead-based paint in pre-1978 housing and child-occupied facilities. The rule aims to protect individuals, particularly children, from lead poisoning caused by exposure to lead dust and debris during renovation work. Typical RRP Projects are sanding, cutting, or demolition of walls or surfaces with lead-based paint, replacing windows, or repairing damaged painting surfaces. Non-compliance with the RRP Rule can result in hefty fines or legal actions.
Safety Inspection
Safety inspections are conducted to ensure compliance with safety standards, such as functioning smoke detectors or secure railings.
Section 8
See Housing Choice Voucher Program
Security Deposit
A Security Deposit is a refundable amount of money paid by a tenant to a landlord at the start of a lease agreement. It is held by the landlord as financial protection against potential damages, unpaid rent, or other lease violations during the tenancy. Security Deposits are meant to cover costs for repairs beyond normal wear and tear, cleaning, or unpaid bills when the tenant moves out. State laws often dictate the maximum amount, holding requirements, and timelines for returning the deposit.. A well-documented security deposit process protects both tenants and landlords by ensuring transparency and accountability.
Self-Guided Showing
A self-guided tour is a property viewing option that allows prospective tenants or buyers to explore a rental unit or home on their own without the presence of a leasing agent or realtor. This modern approach uses technology, such as secure access codes or smart locks, to provide independent access to the property. Self Guided Showing or tours offer flexible scheduling, secure access through a temporary code or lockbox, and unsupervised viewing. These are becoming increasingly popular in a digital-first rental market.
Self-Help Eviction
In the context of landlord-tenant law, a "self-help eviction" refers to any action a landlord takes to remove a tenant from their property without first obtaining a court order, which is illegal. Beware in WV does not specifically restrict or Idaho, Massachusetts, Missouri, Montana, North Dakota, and Virginia which permit self-help in certain circumstances, such as abandonment.
Service Animal
A Service Animal is typically a dog trained to perform specific tasks for a person with a disability, such as guiding the visually impaired, detecting seizures, or assisting with mobility. They are covered under the Americans with Disabilities Act (ADA) and Service Animals are allowed in public places and housing, regardless of pet policies. The Americans with Disabilities Act (ADA) recognizes dogs as the primary type of service animal due to their ability to be trained for various tasks and their suitability for public spaces. However, miniature horses are also recognized as service animals under the ADA in specific circumstances.
Signing Incentive
A signing incentive includes anything provided to encourage prospective renters to sign a new lease and move in. Some leasing agents or property managers may offer additional benefits such as reduced or free rent for a specific period of time, waived parking, pet, or storage fees, or even a lower security deposit.
Single-Family Home
See Single-Family Residence
Single-Family Residence
A single-family residence (SFR) is a standalone housing unit designed to accommodate one family or household. It typically includes a private living space, its own entrance, and exclusive use of the land surrounding the property. SFRs are typically an independent structure with private yards, garages, or driveways. They are located in areas designated for single-family housing and often more space and privacy.
Smart Lock Fee
A Smart Lock Fee is a charge associated with the installation, maintenance, or use of a smart lock system, which allows keyless entry and remote access to a property via electronic devices like smartphones or keypads.
Squatter
A squatter is a person who occupies a property without the legal right, permission, or lease agreement to do so. Squatting typically involves staying in an abandoned, vacant, or unoccupied property without the owner’s consent. Key characteristics are unauthorized occupancy, but differ from trespassers because squatters often aim for longer-term occupancy.
Squatter's Rights
Squatter’s rights refer to legal protections that allow a squatter to potentially gain ownership or continued use of a property they have unlawfully occupied, provided they meet specific conditions under the law of adverse possession. These rights vary by state and are designed to encourage the productive use of abandoned or neglected properties. The squatter may claim legal ownership of the property if they meet specific requirements, such as occupying the property continuously for a set period (e.g., 5–30 years, depending on the state). To claim adverse possession, the squatter must show continuous occupancy, their presence must be obvious to the property owner, they must be the sole occupant, the squatter must occupy the property without the owner's permission, and in some states the must have paid property taxes. Squatter's rights may be invalidated if the rightful owner takes legal action. Squatter’s rights encourage the use of abandoned properties but can be controversial, as they may conflict with property owners’ rights. Property owners should act promptly to address unauthorized occupancy to prevent potential legal claims.
Step Up Lease
A lease agreement where rent prices will increase or “step-up” at specified periods of time throughout the course of the lease.
Stormwater Fee
A Stormwater Fee is a charge assessed to property owners to fund the management of stormwater runoff. It is typically used for maintaining and improving drainage systems, reducing flooding, preventing water pollution, and complying with environmental regulations.
Street Repair Fee
A Street Repair Fee is a charge assessed to fund the maintenance, repair, and improvement of private streets and roadways. It helps cover costs for activities such as pothole repairs, resurfacing, curb maintenance, and ensuring safe and functional transportation infrastructure.
Sublease
A sublease is a rental arrangement where the original tenant (the "sublessor") rents out all or part of their leased property to another person (the "sublessee") while still holding responsibility for the terms of the original lease agreement with the landlord. Subleasing can provide flexibility for tenants, but both the sublessor and sublessee should carefully review the terms of the original lease and ensure clear communication to avoid conflicts.
Sublet
See Sublease
Subordination
Subordination refers to the process of ranking one party’s rights, claims, or interests below those of another in a legal agreement. In the context of real estate and leases, it typically involves the tenant agreeing that their leasehold interest is secondary to the rights of a lender or other superior interest, such as a mortgage on the property. A Subordination Clause is a provision in a lease agreement that establishes the tenant’s lease rights as subordinate to the property owner’s mortgage or other financial agreements. Subordination is commonly paired with a non-disturbance agreement to protect the tenant’s right to remain in the property under specified conditions.
Surety
See Guarantor
Taking
A common synonym for condemnation or any actual or material interference with private property rights but it is not essential that there be physical seizure or appropriation.
Taking Possession
Taking possession of a property refers to the point when a tenant officially gains legal and physical control over a rental property, as outlined in the lease agreement. This typically occurs on the lease start date or another mutually agreed-upon date. This process marks the beginning of the tenant’s residency and their obligation to comply with the lease terms.
Tax-Exempt Lease
A Tax-Exempt Lease is a leasing arrangement, typically used by government entities or non-profit organizations, where the interest component of the lease payments is exempt from federal income tax for the lessor. This structure allows the lessee to benefit from lower overall financing costs, as the tax-exempt status provides the lessor with a tax advantage, which they pass on in the form of reduced rates.
Technology Fee
A Technology Fee is a charge for providing and maintaining technology-related services and infrastructure, such as high-speed internet, Wi-Fi access, smart home features, online payment systems, or tenant portals for managing leases and service requests.
Technology Services
Technology services include High-speed internet, cable packages, or smart home features.
Tenant
A tenant is an individual or entity that rents or leases a property from a landlord for a specified period in exchange for payment, usually in the form of rent. Tenants gain the right to occupy and use the property while adhering to the terms outlined in a lease agreement. Tenant responsibilities include maintaining the property in good condition, notifying the landlord of repairs/issues, and complying with the lease terms. Tenants are essential in the landlord-tenant relationship and are protected by local laws that ensure fair treatment, safe housing, and clear lease terms.
Tenant Empowerment Platform
A Tenant Empowerment Platform (TEP) is a digital tool designed to enhance tenants’ experiences by providing resources and tools that help a resident understand complex leases and rental agreements. A TEP provides access to services that support the tenant's rights, responsibilities, and overall rental journey. The platform aims to create transparency, improve communication, and foster a sense of autonomy for renters. A proper Tenant Empowerment Platform benefits tenants by empowering through convenience, education, and transparency. The TEP benefits Landlords and Property Management Providers via efficiency, tenant retention, and reputation. A Tenant Empowerment Platform fosters a healthier rental environment by bridging gaps between tenants and landlords, ensuring fair treatment, and promoting collaboration.
Tenant Screening
Tenant screening is the process landlords or property managers use to evaluate prospective tenants' suitability for renting a property. It involves reviewing the applicant’s background, financial stability, rental history, and other relevant factors to ensure they meet the criteria for tenancy.
Termination Conditions
Termination conditions outline how the lease can be ended, including notice requirements and penalties for breaking the lease.
The Lead-Safe Certified Guide to Renovate Right
The Lead-Safe Certified Guide to Renovate Right, published by the EPA, provides essential information for homeowners, tenants, and contractors about minimizing lead exposure during renovations, repairs, and painting in homes and facilities built before 1978. The guide emphasizes compliance with the Renovation, Repair, and Painting (RRP) Rule to protect families, especially children, from lead hazards. There are state and federal programs in place to ensure that testing is done safely, reliably, and effectively. Contact your state or local agency for more information, visit epa.gov/lead, or call 1-800-424-LEAD (5323) for a list of contacts in your area.
The National Lead Information Center
Learn how to protect children from lead poisoning and get other information about lead hazards on the Web at epa.gov/lead andhud.gov/lead, or call 1-800-424-LEAD (5323).
Third Party Payment Processor
A third-party payment processor is an intermediary service that facilitates financial transactions between two parties, such as a tenant and a landlord. These processors handle the transfer of funds securely and efficiently, often supporting various payment methods like credit cards, debit cards, or ACH (bank) transfers. Third-party payment processors streamline financial transactions, making them faster and more reliable, while reducing the need for checks or cash payments.
Time is of the Essence
Means that performance by one party within the period specified in the contract is essential to require performance by the other party.
Townhome
See Townhouse
Townhouse
A townhouse is a type of multi-story residential building that shares one or more walls with adjacent units but has its own private entrance. Townhouses are typically designed for single-family occupancy and offer a blend of the privacy of a detached home with the affordability and compactness of shared-wall housing. Key features include shared walls, private entrance, multi-story layout, and outdoor space. Townhouses are popular for their balance of space, privacy, and affordability, making them a desirable option for families or individuals seeking more room than an apartment typically offers.
Toxic Substances Control Act (TSCA)
Gives the EPA authority to regulate lead hazards, including in consumer products and housing. Supports the implementation of the RRP Rule and other lead-related regulations.
Trash Fee
A Trash Fee is a charge for the collection, disposal, and management of waste generated by a property or residence. It typically covers services like regular trash pickup, recycling, and maintenance of waste disposal facilities.
Triple Net Lease
A triple net lease is a lease that requires the tenant to pay for all taxes, insurance, and maintenance as well as rent on the leased property.
True Rent
The true rent is the actual total cost a tenant pays to live in a rental property, including not just the base rent but also any additional fees, charges, or recurring costs associated with the lease. It provides a more accurate picture of the tenant's financial obligation than the base rent alone. Understanding the true rent helps tenants budget accurately and compare rental options more effectively by considering the total financial commitment, not just the advertised base rent. It also promotes transparency in rental agreements.
Turn Key Lease
A turn key lease simply means that the space being rented or purchased is ready to move into. Simply put, you could describe "turn key" as "a space ready to move into - just 'turn the key' and open the door.
U.S. Department of Housing and Urban Development (HUD)
The U.S. Department of Housing and Urban Development (HUD) is a federal government agency established in 1965 to address national housing needs and improve access to affordable, safe, and inclusive housing. HUD oversees various programs and initiatives aimed at strengthening communities, combating housing discrimination, and promoting homeownership. HUD can be contacted at 451 Seventh Street, SW, Room 8236, Washington, DC 20410-3000, (202) 402-7698, or hud.gov/offices/lead/.
U.S. Environmental Protection Agency (EPA)
The Environmental Protection Agency (EPA) is an independent agency of the U.S. federal government, established in 1970, tasked with protecting human health and the environment. The EPA creates and enforces regulations, conducts research, and develops programs to address environmental issues such as air and water pollution, hazardous waste management, and climate change.
Usable Space
The usable space is the space you occupy. Space needs should be defined in terms of usable square feet.
Utilities
Utilities are essential services provided to a property that support basic living and operational needs. These services are typically managed by utility companies or local governments and are a standard part of residential or commercial property arrangements. Common utilities include electricity, water and sewer, gas, trash and recycling, and internet and cable. Your lease may include some or all utilities. Clear communication about utility responsibilities ensures tenants and landlords manage expectations and costs effectively.
Utility Infrastructure Fees
Additional costs for Repairs to building-wide systems like HVAC or elevators.
Vendor
A vendor is a person or business that supplies goods or services to another party, often as part of a contractual agreement. Vendors are commonly used for providing products, materials, or specialized services needed for business operations or projects. They may operate independently or as part of a larger supply chain.
Walk-Through
A walk-through is a physical inspection of a rental property conducted by the tenant and landlord (or property manager) to assess its condition before move-in or after move-out. It ensures both parties have a clear understanding of the property’s state and helps document any existing issues or damages.
Warranty of Possession
See Quiet Enjoyment Clause
Washer/Dryer Fee
A Washer/Dryer Fee is a charge for the use, rental, or maintenance of a washer and dryer provided in a property.
Water Service Fee
A Water Service Fee is a charge for providing access to water utilities.
Wear and Tear
Wear and tear refers to the normal, expected deterioration of a property or its fixtures that occurs over time due to regular use. It is a natural part of living in a rental property and is not considered damage caused by negligence, misuse, or abuse. Understanding wear and tear helps tenants and landlords distinguish between normal aging of a property and tenant-caused damages, ensuring fair treatment in security deposit disputes.
