Frequently Asked Questions
A rental agreement provides for a tenancy of a short period (often 30 days) that is automatically renewed at the end of the period unless the tenant or landlord ends it by giving written notice. … Unlike a rental agreement, when a lease expires it does not usually automatically renew itself.
The decision to lease vs. rent really depends on what you need. If the asset is integral to your business and you need it there all the time then leasing is your best option. … Renting may cost more over that short term period but the total cost to you will be lower since you won’t have the asset for many years.
If an apartment you wish to rent will be ready before the first of the month, you and your landlord may agree to start your lease earlier. … It’s important to note, though, that if you sign a lease to take occupancy on the first day of the month, but then decide to move in later, you have no rights to prorated rent.
Using a credit score to determine the likelihood of a potential tenant paying rent in full, on time, and throughout the life of the lease is not a personal attack. It’s simply a business decision. Most individuals or companies renting an apartment want credit scores from applicants to be 620 or higher.
The scores go down, lowering the chance to get an apartment, much less (getting) a mortgage loan. … Apartment hunting can impact your credit score. Rental-related credit checks usually generate “hard” inquiries on a person’s credit report, according to spokespeople from the major credit reporting agencies