-Most of us must have heard about creating a Rental Lease Agreement but have you ever thought about what a wrongly signed or misread document may lead to? In a residential lease agreement, each party must agree on the terms and conditions.
If you plan to rent a property in Massachusetts, this article will guide you through everything you should know about how to avoid making mistakes while signing a Massachusetts residential lease agreement. Being familiar with these details, you’ll be better equipped with the rental laws and have a comprehensive idea of avoiding pitfalls.
Security Deposit
Before signing a Massachusetts residential lease agreement, take note of these laws regarding security deposits:
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A security deposit must not be more than one month’s rent, and the deadline to return the security deposit is 30 days.
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If a landlord collects the deposit within ten days after a tenant moves in, the landlord is responsible for providing a statement documenting the condition of the premises.
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Security deposit interest: For annual leases, the landlord must pay five percent interest annually or any other amount of interest received from the bank for holding the deposit amount. This interest is payable at the end of each year.
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A landlord must prepare a detailed move-out checklist or an itemized list of charges and damages within 30 days after a tenant moves out.
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A landlord must record deposit withholdings for up to two years and should provide a receipt of deposit to the tenant within 30 days of deposit.
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If the landlord fails to comply, the law allows the tenant to have a damage return equals to three times the security deposit.
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Lease, Rent, and Fees
The state law of Massachusetts has no statute for due rent. However, a landlord must allow a 30-day rent increase notice and a 30-day rent grace period. The law allows the tenant to hold the rent amount if the landlord fails to provide essential services. After a 14-days written notice, the tenant can repair and deduct rent. There is no statute stating if the landlord can make reasonable attempts to mitigate the damages or make an attempt to re-rent.
Notices and Entry
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Leases with payment intervals of three (or more) months- a minimum of three months’ notice are required for contract termination.
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No statute or notice stated by the law for termination of fixed-end date or weekly leases.
- For monthly leases and those with equal intervals between payment days, notice must be issued depending on the payment interval or whichever is longer.
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The notice of termination of leases, reasoning non-payment, is 14 days unless the tenant pays the due rent with interest before receiving a notice.
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No stated statutes for termination of lease violations. The landlord has the right to terminate a lease without notice if the tenant is found engaging in illegal activity.
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Without notice entry, is allowed for non-emergency maintenance and repairs, showings.
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There are no statutes mentioned for entry without notice or entry during a tenant’s extended absence.
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Utility shutoffs and lockouts are not allowed.
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Disclosures and Miscellaneous Notes
This part of the legal rental contract must be read carefully as it stipulates the landlord’s responsibilities, names, address, disclosure of insurance, domestic violence terms, lead disclosures, children, and retaliation.
Conclusion
Awareness and knowledge about residential lease agreements are crucial for landlords and tenants to safeguard their rights and duties stated by the law. Any violation of terms and conditions mentioned in a rental lease agreement can attract heavy penalties on the basis of the seriousness of the defiance. If you are looking to expedite a professional process, you can fill lease agreement forms online!