what exactly does leasing a house all entail?

Answer 1

To lease a house, you have to find a property owner that is willing to put their valuable property in your hands and trust you to take care of it. This property owner, has to be willing to give up the use of the property while it is in your possession. And has to TRUST that you will take care of it. If a window break, the property owner may or may not be responsible to repair it (depend on lease contract). But the property owner has to trust that you will make sure that the window is repaired or taken care of so the damage will not harm the property more.

If your child crash their bicycle into the wall and put a hole in it, the property owner has to trust that you will repair the hole in the wall. Many people don't repair these little problems, then cry when a property owner kept their deposit (the one that is kept to repair damage to the property).

Most property owners, will repair a problem (quickly) if the renter pays their rent on time. All rent is due on the DUE date, the grace period is considered LATE. My WIFE don't understand this. She like many people think that they have from the due date to the late date to pay a bill. THE END RESULT: You pay late once or twice a year, (THAT'S WHY YOUR CREDIT SAGS).

If the property was yours, you would take care of it because it is worth more each year you live there. If you will not do this for a place you are renting - your land lord really don't want to rent to you. A GOOD TENANT will make a good owner, just the person that I sell my house to if I choose to sell.

The rental agreement will spell out the obligation of the tenant and the land lord. ALL ARE EXPECTED TO LIVE UP TO THE RENTAL CONTRACT. Go a step above and do those things that help the property owner to keep the property NICE.

Answer 2

It depends on the conditions of the lease...you might have to contribute financially or physically to the maintenance to the house. You may have to pay a share of the property tax...security deposits of 2 months rents...etc..this is all negotiable...but try to keep the lease down to 12 months and only 1 month security.

There are also more utility bills for house than an apartment so keep this in mind.

Good Luck!

Answer 3

Leasing is the same as rental , just with a contract for a specified period of time (usually a year) during which the lessor (landlord) cannot raise the rent or evict you without criminal cause.
In month to month rentals, the rate can go up at any time and the landlords can evict with a 30 day notice.
Since it is a contract , if you leave early , you will be liable for the payments for the remaining months anyway.

Answer 4

When you lease a home, you sign a rental agreement to live there. An executed lease is a legal document that includes your information, the property owner's information, rental terms and signatures. Leases are typically for 12 months. They generally require up-front deposit money for security and sometimes payment for the final month.