Most people will sign a lease at one point in their lives. A lease is a type of contract where you, the tenant, agree to rent property from the owner (the landlord), in exchange for payment. Here are some things to keep in mind when deciding whether to rent a property and sign a lease:

Types of Property You Can Lease

Residential vs. Commercial

You can rent either a place to live, a residential property such as a house or an apartment, or a commercial property, such as an office or store. In Florida, there is a standard contract that is usually used for residential property, which has been approved by the Florida Supreme Court. However, commercial leases vary widely in their terms, usually imposing more responsibilities on the tenant (such as greater maintenance responsibilities). Landlords for commercial leases do not have the same responsibilities under the law as landlords of homes.

House vs. Apartment

Something to keep in mind when signing a lease is whether you are renting a house or an apartment. When you rent an apartment, you are not only agreeing to abide by the terms of the lease, but also the rules, regulations, and governing documents of the complex in which it is located. If you rent a house within a homeowner’s association or a condominium within a condominium’s association, you will likewise need to understand what the rules and regulations governing that community are.

The Florida Supreme Court has developed standard, approved leases for both types of housing. These can be good reference points in case a landlord presents you with a non-standard lease for review.

Florida Supreme Court approved lease for a house or duplex:

https://www-media.floridabar.org/uploads/2018/08/single-family-lease.pdf

Florida Supreme Court approved lease for an apartment or condominium:

https://www-media.floridabar.org/uploads/2018/08/multi-family-lease.pdf

Monetary Terms

One of the most important parts of any lease are the monetary terms – how much are you going to pay to rent the property, and when?

Lease Term and Monthly Payments

Every lease must have a “term” – the time frame that the lease is in effect and during which you are renting the property. A lease should also lay out how rent will be paid – usually monthly, but rent can also be paid quarterly or over other time frames – and what day in each of these periods the rent is due.

Security Deposit

Almost every lease will require the tenant to give the landlord a security deposit. This is an advanced payment that the landlord holds until you vacate the property.  Once you vacate the property, the landlord can deduct things like unpaid rent and the cost of repairs to the property from your security deposit and make a claim against your deposit. For residential leases, landlords may not deduct the cost of normal wear and tear from your security deposit. If the landlord has no claim against your deposit, it must be returned to you within 15 days of vacating the property. If the landlord intends to make a claim against your deposit, you must be notified within 30 days of vacating the residential property and will have 15 days after the notice to object.

Additional Rents or Fees

A lease can require you to pay costs and fees on top of your monthly rent such as late fees or dishonored payment fees. Before signing a lease, you should be aware of all the extra fees and costs that could potentially be tacked onto your rent.

Liquidated Damages

Some leases have what is called a “liquidated damages” provision or early termination fee. This type of provision sets in advance the amount of money you will owe the landlord if you break the lease early.

Other Terms

Leases generally have other terms beyond the monetary component. Some common terms include:

Maintenance

Almost as important as the monetary terms of the lease are its maintenance provisions. For residential leases, Florida law automatically requires a landlord to comply with all applicable building, housing, and health codes; however, the lease can shift responsibility for other items, such as maintaining the pool, mowing the lawn, replacing the appliances or taking care of the air conditioning. You should be familiar and comfortable with all your maintenance responsibilities under the lease before signing. Failure to comply with these duties can result in you being in breach of the lease, or the landlord charging you after you vacate.

Subletting

Some leases allow tenants to “sublease,” or rent the property out to someone else. Many leases, however, prohibit subletting, or only allow it with the permission of the landlord.

Renewals and Amendments

Landlords can extend a lease beyond the definite term. This extension, or renewal, can take the form of a new lease, or an amendment to the old one. You may be able to negotiate with your landlord for the right to renew your lease.

Other terms in a lease can be similarly amended, such as the rent amount or rent due date. Usually, a written lease will state that any amendments or renewals need to be in writing and signed by both parties.

Guaranty

Many housing complexes that rent to college students require “guarantors,” which refers to a parent or other adult with steady income who essentially promises to pay on the tenant’s behalf if the tenant fails to pay. So, if one of your parents guarantees a lease for you, and you miss a payment, your parent (the “guarantor”) is obligated to make that payment for you.

Every lease is different and should be read carefully. Once you sign the lease, you are likely stuck with it for the duration of your tenancy. Keep in mind that many landlords are willing to negotiate the terms of the lease, so if you are not comfortable with something, you can try to ask for a change. Good luck!