Watch for rules and regulations that may be included in the lease or attached as an additional document. They may be regulations about noise, cleaning requirements and standards, garbage storage and disposal, security issues, smoke detectors, parties, guests, pets, parking, hallways, lights, landlord access to inspect or show the apartment to prospective tenants, and other lifestyle issues.

  Rules and regulations often are problems between landlords and tenants if they are not understood, agreed to, and followed. Tenants can be evicted for breaching leases by not following the rules. Rules and regulations can be changed, added, or amended by a landlord without tenant approval if the lease allows it.

  Security deposits are customary in the University community. They usually are equal to one or two months of rent. They cannot be greater than two months of rent during the first year of the lease. Most leases specify that a deposit cannot be used as the last month of rent. Some leases say that if a landlord uses some or all of the security deposit during the term of the lease, the tenant must pay to bring the deposit up to the lease-specified amount. A landlord must place the security deposit in an escrow account in a bank for the term of the lease, or the deposit may be bonded, which is a guarantee of payment. The tenant does not necessarily receive any interest payments from the escrow deposit for the first or second year. On longer leases, interest must be paid after the second year.
Payment of Rent

  Payment of rent, also called consideration, is specified in the lease. Payment information includes the monthly rent amount, the total amount of the rent to be paid over the term of the lease (usually 12 times the monthly rent), when (date due) and where (office address) the rent is to be paid, how the rent is to be paid, (mail, in person, check, money order, etc.), and a late date after which payment is not on time and violates the lease terms. Some landlords allow a discount for timely payment (e.g., rent is $500 a month but if paid before the fifth of the month a discount of $50 will be allowed; therefore, the rent due is $450.) Other landlords assess a penalty if rent is late (e.g., rent is $500 a month but if paid after the fifth of the month a penalty of $50 will be charged; therefore, the rent due will be $550).

  Both ways are acceptable; however, the total amount of the contract, which usually is stated in the lease, will be changed depending on whether it is discounted or penalized. If discounted, the total contract amount will not reflect the discount but will be the full or larger amount. In event of a lawsuit by a landlord, the landlord would likely request payment in full for the entire lease term, which would be the larger amount.