It doesn't matter if you are signing a residential or commercial lease in New York. When it comes time to put ink to paper, you must be 100 percent confident in the decision you are making.
There are a variety of questions to ask before signing on the dotted line. Here are just a few of the most important:
-- What is the monthly rent?
-- Does the rent include utilities?
-- Does the cost of rent have the chance of changing from month to month, or year to year?
-- Is a security deposit required?
-- What day is the rent due each month? What type of payment is accepted?
-- Does the landlord require that you have renter's insurance?
-- What is the policy for reporting something wrong, such as a leaking pipe or an appliance that will not work?
-- What are the consequences of missing a lease payment?
-- Is there anything you are not permitted to do?
-- What is the process of terminating the lease early? This should outline the consequences to both you and the landlord.
These are just some of the many questions to ask before signing a lease.
If you answer a variety of questions, there is less chance of making a mistake. Subsequently, you will be happy with the lease that you signed and what the future holds.
Even though you may not realize it when signing a lease, something could go wrong at some point. For example, you may need to leave the home or office space early. It is good to know your options for every possible circumstance.
Source: Zillow, "Renter's checklist," accessed Jan. 27, 2016