How to Evaluate a Lease It's all in the fine print! Read all the terms of your lease and make sure you understand everything before you sign. Steps: 1. Make sure the lease covers the basic terms of your tenancy including the amount of rent and all payment terms, such as due dates, payment methods, late fees, grace periods and penalties, and the period of time for the lease (such as 1 year, 6 months or month-to-month). 2. Check to see if the lease spells out the responsibilities of both the landlord and tenant, such as who pays for utilities, taxes, maintenance and repairs. 3. Review the lease for specific policies about pets, subleasing, inspections, parking, running a home business or any restrictions on guests. 4. Evaluate the terms about security deposits, such as when the deposit will be returned and the conditions for a full or partial refund as well as the conditions of any nonrefundable deposits. 5. Determine if the lease requires advance notice of your intent to vacate the premises or the landlord's intent to enter the premises for safety or maintenance reasons. 6. Look for provisions about the conditions and procedures to end or break the lease. 7. Propose specific changes to the landlord regarding provisions that are unacceptable to you. 8. Negotiate changes with the landlord and reach an agreement on suggested revisions. Tips: • The terms of most standard leases may be negotiated with your landlord. • A lease is a binding, legal document - make sure you understand all the provisions before you sign any papers. • If you agree to a lease provision only on certain conditions (such as the landlord must recarpet the rental unit by your move-in day), make sure you specify those conditions in writing on the lease contract. • Obtain and keep a copy of the lease for your permanent records; make sure the landlord retains a copy of the lease for his or her files.