When managing rental real estate or renting an apartment yourself, it is useful to be aware of the typical conditions. As either a landlord or a tenant, you have specific responsibilities. This blog includes the basics of MA rental conditions.
Structures of Tenancy
There are two major structures of tenancy: leases and tenancy at-will. There are pros and cons to each, but the basic difference involves the time frames. Leases specify particular lengths of time whereas tenancy-at-will is more flexible. Prior to offering a particular type of tenancy, property owners typically evaluate the affect of particular dates (i.e. school start and end dates), the cost of finding new tenants, and other scenarios.
Responsibilities of Each Party
Both landlords and tenants hold particular responsibilities. For example, landlords must provide minimal standards of safety and cleanliness (as defined by law). Tenants must submit rentals payments and not damage a property beyond typical wear and tear. Additional conditions may be detailed in the rental terms, however certain providions may either be mandated by law or not allowed. Ultimately, it is important for both parties to understand their rights and to understand all provisions in an agreement prior to acceptance. It is not uncommon for some provisions to be revised to meet the requirements of both parties.
Handling of Deposits
One of the key items in any tenancy agreement pertains to deposits. A security deposit can be required to cover expenses related to damages. Last months rent may also be required in order to stop tenants from using security deposits for the last month or to facilitate proper prior notification for end of tenancy. It is important to issue receipts for all deposits given. MA laws may specify maximum amounts, where deposits are placed (i.e. into an interest bearing escrow account), and time frames for refunding it to tenants.
The Basics Of MA Rental Conditions
The above covers only a few elements of MA rental conditions. It is intended strictly as a basic overview and should not be interpreted as legal advice. Contact a local MA attorney for actual legal advice. Official resources regarding MA rental conditions may also be reviewed on the official state website. You may also subscribe to our website for further information on this and similar topics.