Your lease is a legally binding agreement between you and your landlord. Once you sign it, you’re obligated to keep to its terms, so be sure to read it thoroughly before committing yourself. The lease should include a few key pieces of information that ensure you’re getting exactly what you’re paying for:

• The names of all the adults who will be living in the residence
  
• The exact property that’s being rented: If it’s an apartment, make sure the unit number is included
  
• The length of the lease and the dates it covers
  
• How much the rent is, when it has to be paid, and what the penalties are for late payment
  
• How much your security deposit is, and how it will be returned to you
  
• Which utilities are and which are not included in the price of the rent
  
• The conditions for renewing your lease and for giving notice of your moving

If there are other rules that apply to the property — such as restrictions on pets or the use of building facilities — make sure those are in the lease as well. And any handwritten additions should be written in ink, then initialed and dated by everyone named on the lease.

What’s the difference between a lease and a rental agreement? Click here for the answer!