If your search for the perfect rental has ended and you are ready to start signing a lease, you may be unsure of what the process involves.
As you might guess, signing an apartment lease is more than just putting your signature on the dotted line. You're signing a legally-binding contract, so it's essential to know what you're signing and what you're committing to in your lease agreement.
When Do You Sign a Lease for an Apartment?
In New York City, apartments generally aren't listed earlier than 30 days before they're available, and they're rarely listed for longer than four weeks. Yes, that means that the likely answer to "How early can you sign a lease for an apartment?" is "just a few weeks in advance," but don't worry—in New York City, the rental markets move quickly.
If you're renting directly with your landlord, you'll likely sign the lease in the property manager's office.
How long does it take to sign a lease? It depends—if your lease signing process includes a full walk-through of the apartment, it can take up to two hours. Typically, a rental agreement will be signed during standard business hours, so you may need to take a few hours off work.
What Do You Need to Sign a Lease?
To make the process smoother, be sure to bring the following:
- Proof of employment, including two months of pay stubs, employment letter on company letterhead, two recent bank statements, and income tax returns
- Government-issued photo identification
- Paperwork provided to you by the landlord/management company, such as a formal application
- Proof of renter's insurance, if required
- If applicable, your guarantor or roommate must also produce proof of identity and financial documents
- Necessary funds, which typically include the first and last month's rent, and the security deposit.. Most landlords require payment via a bank, or cashier's, check, rather than a personal check, so be sure to visit your bank in advance.
What to Look for When Signing a Lease
When you have the lease in front of you, get clarification on any apartment info that may be unclear. Examples include:
- Start and end date of the rental lease—is it one year? Two years? Month-to-month?
- Monthly rent amount
- When is the rent due? How will you pay rent?
- Utilities that are or are not included in the monthly rent amount, including heat, hot water, electricity, and gas
- Renewal options, including whether the lease agreement automatically renews, and how to go about renewing the lease
- Rules for the building and apartment, such as customization options—can you paint the walls or hang shelves? What condition must you return the apartment in?
- Contact information for the landlord: an address, phone, and email
- Clearly stated penalties for violating any stated rules
- Any agreements made beforehand between you and the landlord, which must be put in writing in the lease terms. Is the building officially not pet-friendly, but your landlord OK'd your cat? Get it in writing.
- Correct names of all parties to be listed on the contract, including all roommates
- Make sure everything you have agreed upon is in the lease and that all names are spelled correctly.
- You may wish to have your attorney review the terms of the lease, if possible.
Move-In Time
Clarify what date you can move in, and if there is a specific time you can start moving your belongings into your new home. Some buildings will have rules that will prevent you from moving at certain times of the day or certain days of the week. (Again, did your landlord verbally OK moving outside these times? Get it in writing when you sign the lease!)
You'll typically receive your keys after the previous tenant moves. On moving day, keep a copy of your lease and all papers signed if you need to follow up, or you need clarification on a rule.
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Written by Elijah Lewis