Leasing 101

A lease is a legally binding contract between the resident(s) and property owner(s) that explains the conditions under which housing is rented (typically for 12 months). If any part of the lease does not fulfill the lease obligations, the other party may take legal action. Before signing the lease, you should fully understand your rights and responsibilities as outlined. Here are some of the items you should consider before you sign your name on a lease.

Basic Principles of a Lease

• If you make any agreement with your landlord that is not listed in the lease, put it in writing and ask the manager to sign and date the amendments.
• Keep a copy of all documents and correspondences. This includes a lease contract, apartment inventory form, canceled checks, agreements, repair requests, letters, etc.
• Be aware that if you break the lease, you still may be liable for the full amount of the rent for the remaining months of the lease.

Rules Before Renting

• The flaws in any rental property may not be obvious, so thoroughly inspect any rental properties you are highly considering.
• By viewing multiple units, you will have a good base for comparison.
• Consider taking a veteran renter with you who has experience looking over rental properties.
• Take notes and utilize the sample checklist. By the end of the day, you will become tired and not give the latter apartments as close attention.
• If you are considering an apartment under construction, do not sign a lease unless you fully understand and accept the risks involved.
• Ask to see the actual apartment you are considering. You may be shown a “model” apartment and find your actual apartment is of lesser quality. Sometimes you may have to pre-lease several months in advance and not know which apartments will be vacant. In this case, make a written notation on the lease stating the apartment provided must be comparable to the “model” shown.

Credit & Background Checks

Many landlords require a credit or background check before they let you lease an apartment. This could include accessing your credit score with one of the major credit bureaus. You should have to sign documents that allow the landlord to do this, and provide references if necessary. Make sure to read all documents carefully so that you know what information you are allowing the landlord to access.

International Students

When signing a lease in the U.S., a credit history check is typically required. As an international student, you may have limited or no U.S. credit history. Some landlords may be flexible and happy to work with you. To compensate for this lack of credit history, the landlord can require a double security deposit. DePaul’s Office for International Students and Scholars can provide you with a letter stating that you are indeed a DePaul student and can validate additional information to assist with your housing situation. If you have any further questions in this area, please contact the Office for International Students and Scholars at 312-362-8376.

This information was created by the DePaul University Division of Student Affairs.