The Importance Of Reading The Fine Print Of A Lease

February 06, 2015

My twin daughters are sophomores at Ohio State University and decided to move off campus for their junior year. This is a rite of passage for college students and my girls are very excited to live with four of their friends in a restored, old house about three blocks from campus. After a fast and furious search, all the kids fell in love with this house, verbally agreed to rent it, and some even signed the rental agreement on the spot.

My daughters called me in a panic and wanted me to sign the parental section “RIGHT NOW!” Hold up! We aren’t Congress –we are going to read the contract before signing it. Based on this experience, here are a few lessons that my daughters learned:

Read the fine print.
Get it in writing.
If you don’t understand it, find help.
Be prepared to walk away.

Read the fine print. Once I received a copy of the lease, I read a section buried in the middle that said,“The property must be show ready at all times. If not, there will be a $50 fine. This means beds made, no clothes on the floor, no dishes in the sink and the grass cut.”

Wait, what? I can’t speak for the other four kids but I know my daughters can be complete slobs (in spite of their upbringing). I asked my daughters about this clause and neither one knew it was in there! What are the odds that six 20-year old college students are going to keep their place “show ready?” Which leads to the next point…

Get it in writing. I insisted that my daughters understand what that clause means. Does the landlord expect the place to be this way all the time or just when he’s trying to rent it out? Will he give notice before showing up? Will the fine be assessed per occasion or infraction?

For example, if someone left dishes in the sink and another person’s room looked like a tornado hit, does that cost $50 or $100? This wasn’t clear in the lease so they asked the landlord to clarify it in an addendum. I also insisted that all the roommates understand this clause and how it will affect them. As unrealistic as I think this is, all the roommates agreed to this clause and signed an agreement among themselves that they will hold up their end of the bargain.

If you don’t understand it, find help. After my daughters saw that clause, they went back and truly read the lease. For the most part, it was self-explanatory, however they had several questions. Luckily, I’ve read my fair share of leases and other legal documents so I could explain the terms and walk my daughters’ through the meaning behind the legalese.

But what if I didn’t understand something? One resource is my company’s EAP which has a free legal service. I have the option of a free 30-minute consultation and if I need more specific help, I can be referred to a local attorney at a reduced rate.

Lastly, after reading the lease, I thought the kids should walk away and find another house to rent. They all felt differently and really believe this will be a great experience. Time will tell, but I see this as an important life lesson. My girls now realize that they must read and understand a document before they sign it. Soon they will learn that friends don’t always make good roommates, but that’s another story!

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