2. The "Quit Notice" Period:
Does the agreement respect the law? If you pay rent yearly, the law mandates a 6-month notice for recovery of possession.
Some agreements state you agree to waive the notice period especially when you owe rent.
3. The "Service Charge" Breakdown:
Demand an itemized list of what you are actually paying for.
4. Agent Fees" & "Agreement Fees":
Verify the percentage. In many states, these are regulated. Don't let an agent bully you into paying 20-30% on top of rent if the standard in your area is 10%. Ensure these payments are receipted separately from the rent.
5. The Maintenance Obligation:
Who fixes the leaking roof or the bad plumbing? A good agreement should clearly state that the landlord is responsible for structural repairs, while the tenant handles minor day-to-day wear and tear.
Warning:
Before you sign, read it twice.
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Disclaimer: This is for educational purposes and does not constitute formal legal advice. Always consult a lawyer before signing binding documents.
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"Record me if you like, we will invoke our Lagos deities to chase you Igbo people out of Lagos. We will inherit all you Igbos have in Lagos" -Remi Tinubu.
~RCCG Pastor, Remi Tinubu, 2019.