Understanding Your Lease

Although not all landlords have the same policies, renting requirements in the Birmingham area are typically consistent.

• Be aware that an application fee may be applicable. This tends to range from $30-$75 per person.
• Be aware that your landlord will most likely check your credit report.
• Confirm the length of your lease. Apartments that offer short-term leases can be found on our off-campus housing website.
• It is not uncommon for landlords to require a co-signer. Make sure all of the tenants and co-signers sign the lease at the same time.
• Keep a personal copy of the signed lease.
• For more information on understanding your lease, read the Alabama Tenants’ Handbook.

Leasing Lingo

Be sure to read your lease before signing! Watch the video and look at the definitions below for helpful information on terms you might come across as your review your lease paperwork.

Definitions

Co-signer (n.)

A person who signs an official document (such as a loan, contract, or law) with another person.

Security Deposit (n.)

A required, yet refundable, payment to a landlord in order to ensure that the rental property is not damaged and that all rent is paid during the lease term. A security deposit is typically equivalent to one month’s rent.

Sublet (n.)

A vacant apartment or house where a renter has already signed a lease and is now renting to another individual.

Lease (n.)

A legally binding contract by which one party (typically the landlord) provides property to another (typically the tenant) for a specified term, in return for a periodic payment (usually monthly)