Unlock the Power of eSignature Licitness for Lodger Agreement in India

How to eSign a document: e-signature licitness for Lodger Agreement in India

- Hello, and welcome to the short video series, "Knowing Your Rights as an Indiana Renter." In this video, you will learn more about your lease agreement. Did you know in the US almost one third of housing is made up of renter occupied units? Most tenants have signed a lease agreement or an agreement between themselves and a landlord. Maybe you have signed a similar agreement, but did you fully understand the terms of the lease before signing it? Just like anything else you put your signature on, a lease is a contract. It will name the people who have entered into the contract and what they are legally bound to do. It's important to fully read and understand your lease so you know what to expect and what is expected of you. Here's the information that is usually included in the lease. Rent. When reading your lease look for the amount of rent and when it is due each month. Is it the same amount as it was when you agreed to rent the unit? What form of payment is accepted? How do you make the payment? Term. How long is the lease term? Is it for six months, a year, or even longe? Responsible tenants or parties. Who is responsible for paying the rent? You, your significant other and/or roommates should be listed as the responsible parties. Anyone whose name doesn't appear on the document, isn't legally liable for rent. For instance, if you take on a new roommate after the lease has been signed, you may want to ask the landlord to issue a new lease with his or her name added. If not listed on the lease, you're legally the person who's liable if your roommate doesn't pay his or her share of the rent. Other important details. Your lease will have other important information including the security deposit and pet fee amounts. A common deposit may include; one month's worth of rent along with a pet deposit, if a pet will be staying with you. You may receive all or some of your deposit back at the end of your lease, depending on your landlord. If you cause damage to the apartment, your landlord may deduct a portion of it before returning the rest to you after you move out. Your address and phone number, and possibly contact information for emergencies. The name and contact information of who manages the rental property. Who is responsible for the utilities? Typically the tenant is responsible, though the landlord may pay for trash and water. Any penalties and fees? Typically there is a penalty for late payment of rent. Your lease should specify when a rent payment is considered late, and what the penalties are for when that happens. Your lease should include information on what will happen if you break the lease, and any penalty or fee. Your lease should also state whether or not you can let someone rent in your place for the remainder of your lease, if you should happen to move out. This is known as assigning. Or if you can sublet, should your roommate move out. Who is responsible for repairs? Generally, you would be responsible for minor repairs leaving the major repairs for the landlord. Rules on how long a guests can stay with you. Where to park your vehicle and how many spots you have. If you need to seek approval before making changes to the property, like painting a wall. Lease renewal. Some lease agreements may specify how far in advance you need to notify the landlord of your intent to not renew the lease for another term. Some will default to a month to month agreement after the original term runs out. Other lease agreements may just include an automatic renewal clause in which the lease is renewed unless you give notice by a certain date. For example, if your lease expires on September 30th and it states you need to provide at least 30 days written notice if you did not plan to renew, you need to email your landlord on or before August 31st to acknowledge your lease will end, or you intend to renew. Make sure you read your lease thoroughly and carefully. Once you sign the lease terms are legally binding. If you have questions about any part of it, ask for clarification. You are allowed to negotiate the terms of your lease before signing, and you can have the lease reviewed by an attorney if you so choose. It's important to keep a copy of the lease signed by both you and the landlord for reference if there is ever a disagreement about the house or apartment or anything related to your tenancy. If you meet with an attorney about a lease issue, it's important to bring a copy of it so it is understood what terms you and your landlord have agreed to. Thanks for watching and learning more about the importance of understanding your lease. Be sure to check out the other videos in "The Knowing Your Rights as an Indiana Renter" series. Videos are available on how to protect yourself from eviction, your right to safe and clean housing, housing discrimination, and reasonable accommodations and modifications.