Any waiver by the Landlord of any failure by the Tenant to perform or observe the provisions of this Lease will not operate as a waiver of the Landlord's rights under this Lease in respect of any subsequent defaults, breaches or non-performance and will not defeat or affect in any way the Landlord's rights in respect of any subsequent default or breach.
The chances of a landlord pursuing the matter often depends on the size of the property management company. A landlord with one duplex and a day job might not want to endure the hassle and costs of a day off work as well as the lawyer/paralegal fees. On the other hand, if you have a professional landlord who owns and manages thousands of units, Aaron says they’ve likely got someone dedicated to going after tenants five days a week. “Yours is just another file in their caseload.”
From the Landlord's perspective, the advantages to this type of lease are that they can sell the property in a slow market and can charge a higher rent than they could using a regular lease. Also, if the buyer does not exercise the option, they get to keep the option deposit. Lastly, because the tenant has a vested interest in the property, they tend take better care of it than they would if they were just ordinary tenants.
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It is recommended for landlords to elect not permitting water filled furnishings on the property due to the potential damage they may cause if they should puncture. Chances are that the amount of damage a waterbed can cause, which is usually between 196 to 235 gallons, would exceed the amount held for the security deposit. Therefore, it is in the landlords best interest to not allow this type of furniture.
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What: Rented real estate may include all or part of almost any real property, such as an apartment, house, building, business office(s) or suite, land, farm, or merely an inside or outside space to park a vehicle, or store things. The premises rented may include not only specific rooms, but also access to other common areas such as off-street parking, basement or attic storage, laundry facility, pool, roof-deck, balconies, etc. The agreement may specify how and when these places may be used, and by whom. There may be detailed description of the current condition of the premises, for comparison with the condition at the time the premises are surrendered.
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The lease should be reviewed for early termination clauses that allow for it to be broken with no penalty. If no clauses are found, the tenant may attempt to have legal clauses added to allow for the lease to be broken without penalty. Clauses are provided at the discretion of the landlord, or property management company if acting on the behalf of the best interest of the landlord. Dependent on the reasons for the tenant to break the lease, some states provide options that would not hold the tenant liable even when not stated in the Standard Residential Lease Agreement.
Additional occupants: The agreement may include a term restricting the number of occupants in a rental unit or requiring the landlord’s permission before additional occupants can live in the rental unit. If additional occupants are added, a landlord can only increase the rent if the tenancy agreement includes a term allowing the rent to vary based on the number of occupants or the parties all agree to sign a new tenancy agreement.