You found the perfect apartment pad – it might not be much, but it’s yours. You have the best roommates – you get along famously. Even your landlord seems cool. A lease? Of course – you just sign it. They are all the same right? And, after all, you can’t do much about it anyway.

Not so fast! All leases are not the same. And you have more power over your lease than you realize.

Over the next two days WilliamPaid will share a few insider tips about leases. After all, isn’t it better to learn from someone else’s mistakes. Whether or not your landlord will alter specific lease provisions will be a matter for discussion, but, as our dad used to say, “It can’t hurt to ask.”

Tip 1: Ignorance Is Not Bliss

You might not be able to change what the lease says, but the least you can do is read it. Know your rights – and your obligations. For example, you thought your landlord said that utilities were included. Does the lease say that? Be sure to note the following in your lease:

· Is the lease term correct?
· Does the lease term automatically renew?
· Who is the landlord?
· When and where are payments due?

Tip 2: What You See Is What You Get

As part of your lease, you will often be asked to complete or sign-off on a move-in checklist that indicates the condition of the apartment on the day you took possession. While completing this form isn’t as fun as deciding which drawer the silverware should go in, take the time to inspect your place and write down specifics about the condition of the apartment. Otherwise, be prepared to pay for it later.

If your landlord doesn’t offer you a move-in condition report, prepare your own and have your landlord sign-off on it. You might also want to take a few pictures (with the date function turned on your camera) if your landlord isn’t present to sign the report.

Tip 3: Keep Your Friends Close And Your Roommates On The Lease

Anyone living in your apartment should be on the lease. If one of your potential roommates suggests that he not be listed on the lease for a multitude of reasons (bad credit among them), insist. It seems obvious, but only those that are on the lease will be held liable to the landlord (but just because other people are on the lease doesn’t mean you are not 100% liable – see below). If you do sign the lease and one or more of your roommates doesn’t, you are probably in breach of the lease by letting those non-signers live in your apartment.

Don’t want to heed this advice? Well, OK - but the least you should do is enter into a roommate agreement with your roommate. It doesn’t have to be formal, but it should spell out the obligations and liabilities of the roommates. Williampaid.com offers a really great downloadable, customizable roommate agreement that you might want to check out. Roommate Agreement And, for WilliamPaid 12-month members, it’s free!

Stay tuned tomorrow for Lease Tips 4 – 6. Got your own lessons learned about leases? Be sure to post them here on WilliamPaid’s blog. Leave a comment on the blog and we’ll give you 5 entries in WilliamPaid’s Free Rent contest. CLICK HERE to enter WilliamPaid’s Free Rent Sweepstakes.