On This Page
The Lease
A lease is a legal contract and the details are in effect from the moment it is signed. Don’t sign a lease if you can’t live up to the details!
Read the lease thoroughly.
- Leases will vary from one unit to another.
- Is a co-signer required?
- Some places do require a parent signature.
Top of Page
Know what type of lease you are signing.
- Joint and several liability leases are very common in Oxford.
- This type of lease holds everyone who signs the lease responsible for the total amount being charged.
- If one person doesn’t pay or simply moves out, the other tenants on the lease are liable for any missing rent. The full amount is still due to the landlord and the other remaining tenants must pay it.
- Individual leases are offered at some locations.
- This lease pertains to only the one person who signs it.
- You are not liable for your roommate’s share of the rent.
- However, if your roommates move out or don’t pay, the landlord can replace them with somebody else in order to fill the spot.
- Be aware that you could end up living with people you didn’t choose.
Top of Page
Ask to take a copy of the lease home with you to read it more carefully.
- Ask your parents or someone else to read it with you.
- If the rental agent or landlord is hesitant to let you take home a copy, they might not be looking out for your best interests.
Top of Page
It is a good idea for all the roommates in the group to sign the lease together.
- Security deposits are often due at signing. Be prepared to pay this deposit.
- Is there an application fee or a credit check cost?
- Find out your specific move-in and move-out dates.
- Find out when and how you can get keys, especially if you are signing a lease for the next school year.