Understanding Your Deposit and Bond Payment
- Deposit Requirements: Know the amount required and its purpose, typically covering initial costs or potential damages.
- Bond Payment: Understand what a bond is (usually equivalent to a few weeks’ rent) and how it is used to cover any property damage or unpaid rent.
- Refund Process: Learn the conditions under which you’ll get your bond refunded at the end of your lease.
- Payment Methods: Check acceptable payment methods and ensure you get a receipt.
What to Look for in a Lease Agreement
- Lease Duration: Confirm the length of the lease and any options for renewal.
- Rent and Payment Terms: Verify the rent amount, payment schedule, and any additional fees.
- Maintenance Responsibilities: Understand who is responsible for maintenance and repairs.
- Break Clause: Look for a break clause that allows you to terminate the lease early if needed.
- Rules and Restrictions: Review any rules or restrictions, such as pet policies or alterations to the property.