When buying an investment property or renting an apartment yourself, it is important to be aware of some standard conditions. Both landlords and tenants, you hold specific responsibilities. This blog provides an introduction to Southern NH apartment rental conditions.
Structures of Tenancy
There are two primary structures of tenancy: leases and tenancy at-will. There are pros and cons to both, but the primary difference related to the duration of occupancy. Leases detail exact dates while tenancy-at-will is more flexible. Prior to offering a specific type of tenancy, property owners normally evaluate the impact of seasonal changes (i.e. colder weather), the cost of finding new tenants, and other similar scenarios.
Responsibilities of the Parties
Both landlords and tenants maintain certain obligations. For example, landlords must provide a certain living environment. Tenants must pay rent and not damage a property beyond typical wear and tear. Additional conditions may be written in a rental agreement, although certain terms may either be mandated by law or prohibited. Ultimately, it is important for all parties to understand their rights and to comprehend all terms in an agreement before acceptance. It is possible for some provisions to be adjusted to meet the requirements of both parties.
Types of Deposits
One of the key terms in any rental agreement involves deposits. A security deposit may be required to cover expenses related to damages. Rent for the last month may also be requested as a means to stop tenants from applying security deposits towards the last month or to ensure a one month advance notification for vacating the home. Receipts should be created for every deposit to protect both parties. Southern NH laws may specify dollar limits, where money is deposited (i.e. into an escrow account earning interest), and when it must be returned to tenants.
An Introduction To Southern NH Apartment Rental Conditions
This article covers only basic aspects of Southern NH apartment rental conditions. It is provided merely as a basic overview and must not be interpreted as legal guidance. Contact a local Southern NH lawyer for actual legal advice. Comprehensive information on Southern NH apartment rental conditions can also be reviewed on the official state website. Subscribe to our website for additional information on this and similar topics.