Apartment For Lease Meaning In Massachusetts
Description
Form popularity
FAQ
Before you sign a lease for an apartment, you'll need to bring along a document verifying your identity. A driver's license, passport, or other proof of legal residency is sufficient.
Renting an apartment isn't as easy as waltzing in and saying “I'll take it!”—particularly in today's competitive rental market. With many prospective tenants to choose from, landlords can be picky, and they will prioritize applicants with a track record of paying off debts and respecting their neighbors and community.
While it's your responsibility to keep the apartment you're renting in good condition while you're living there, you do not technically own it.. the landlord/complex is just leasing the space to you for X amount of time.
Rental Application: The landlord may require all adult occupants to complete a rental application and undergo a background or credit check. Listing the 18-year-old as a tenant would require them to participate in this process if the landlord requests it.
Many apartments require that you have a gross monthly income of three times the rent. List all your other expenses, subtract them from your monthly gross income, and leave a little buffer for one-off expenses to figure out how much rent you can afford.
Looking at a prospective tenant's income is a permissible means of screening. However, when you require employment verification, this can lead to discrimination based on source of income which is illegal in Massachusetts.
A lease is a legal, binding contract outlining the terms under which one party agrees to rent property owned by another party. It guarantees the tenant or lessee use of the property and guarantees the property owner or landlord regular payments for a specified period in exchange.
Information Required on a Rental Application Personal info (name, contact details, SSN) Employment and income details. Rental history (past addresses, landlord references) Vehicle information.
No Ownership. As a tenant, you're essentially paying rent to a property you will never own.
What Does Lease Mean? A lease outlines an agreement between a lessor and lessee that dictates a rental period and other housing-related stipulations. As a rule of thumb, a lease agreement covers an extended period known as the “term” and typically lasts one year.