Lease Agreement FAQs
Adam Willis avatar
Written by Adam Willis
Updated over a week ago

What are the fees listed under the "Rents and Fees" section?

  1. Month-to-month fee: It will only "be added to the Monthly Rent in the event Resident remains in the Premises after the expiration of the Term, no notice is necessary" (Rental Agreement pg. 1). There will not be a month-to-month fee if you sign a lease renewal by the end of the current term.

  2. Inspection fee: It will only be charged "for an inspection of the property if such inspection is necessary due to the actions or inactions of Resident, or due to damage to the premises caused by Resident, its guests, occupants, invitees, animals, or others" (pg. 4).

  3. Service of Notice Fee: "In the event, Owner determines to serve any notice upon Resident due to Resident’s failure to pay rent, any nuisance related to Resident’s tenancy, or for Resident’s violation of this Agreement, (including Rules and Regulations), Resident shall be liable to Owner for the Service of Notice Fee stated above" (pg. 6).

  4. Eviction Turnover Fee: "Owner shall be entitled to the Eviction Turnover Fee for the work processing the paperwork to the attorney for an eviction after failure of the Resident to comply with any eviction notice" (pg. 1).

Lease Initiation Fee: "The Lease Initiation Fee above shall be paid upon execution of this Agreement and shall be deemed consideration for the institution of this Agreement and is not a deposit" (pg. 1). Essentially, to make a contract official in the legal world, money has to be exchanged for the property and/or services in the contract, and this is what we use to satisfy that requirement.This fee will be charged at the beginning of this lease and with any lease renewals.

What are the Resident Benefits Package and Property Damage Liability Wavier?

You can find information about the Resident Benefits Package here and the Property Damage Liability Waiver here.

When is rent due?

"Monthly Rent is due on or before the first day of each month by 5:00 p.m" (pg. 6). There is a late fee "due if full payment is not received before 5 pm on the 5th of the month" (pg. 1). Meaning, rent is due the first of the month, but there is a grace period of until the 5th before late fees go out.

Why isn't the lease end date for my 12 month/24 month/etc. lease exactly one year/two years/etc. after the start date?

In the event the owner or resident elects not to renew the lease after the initial lease term, we need to have the lease end on a date that coincides with our maintenance team's turn schedule. Our maintenance team has developed a clockwork-like process for making homes ready to rerent, and leases can only end on certain days to maximize the efficiency of this process. As such, you may see that the lease end date is a few days more or less than excatly one year after the lease starts.

Right of Entry

You can view a detailed explanation of this clause here.

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