When managing an investment property or renting a home yourself, it is useful to understand some standard provisions. Both landlords and tenants, you hold specific obligations. The following includes basic information on Burlington MA tenancy provisions.
Types of Tenancy
There are two basic types of tenancy: leases and tenancy at-will. There are advantages and disadvantages to both, but the primary difference related to the duration of occupancy. Leases detail exact lengths of time whereas tenancy-at-will is more indefinite. Before selecting the type of tenancy, landlords normally evaluate the impact of particular dates (i.e. school start and end dates), the cost of finding new tenants, and other situations.
Responsibilities of Landlords and Tenants
Both landlords and tenants have particular obligations to fulfill. For example, landlords must furnish minimal standards of safety and cleanliness (as defined by law). Tenants must submit rentals payments and not damage the home beyond normal wear and tear. Additional provisions may be written in a rental agreement, although certain providions may either be required by law or prohibited. Ultimately, it is critical for both landlords and tenants to know their rights and to understand all conditions in an agreement prior to acceptance. It is possible for particular terms to be negotiated to reflect the preferences of both parties.
One of the basic terms in any tenancy agreement involves deposits. A security deposit may be required to cover expenses related to damages. Rent for the last month is also commonly required to prevent tenants from using security deposits for the last month or to facilitate 30 days notice. It is important to have receipts for any deposits given. Burlington MA laws may dictate dollar limits, where funds are deposited (i.e. into an interest bearing escrow account), and when it must be given back to tenants.
Basic Information On Burlington MA Tenancy Provisions
This blog includes only a few elements of Burlington MA tenancy provisions. It is intended strictly as a generic introduction and must not be construed as legal advice. Connect with an experienced Burlington MA lawyer for actual legal guidance. More detailed resources regarding Burlington MA tenancy provisions may also be reviewed on the official state website. You may also follow our website for more details on this and related topics.