Madbury Commons Lease Agreement

Madbury Commons Lease Agreement: Everything You Need to Know

If you`re looking for a new apartment to live in while you`re in college, Madbury Commons might be just the place for you. But before you sign on the dotted line, you`ll need to understand the lease agreement and what it entails.

Here`s everything you need to know about the Madbury Commons lease agreement.

What is Madbury Commons?

Madbury Commons is a student housing complex located in Durham, New Hampshire. It`s a relatively new development, opening its doors in 2017. Madbury Commons caters to students attending the University of New Hampshire and other nearby colleges.

The complex offers a variety of apartment styles, including studio, one-bedroom, two-bedroom, and four-bedroom apartments. Residents have access to a variety of amenities, including a fitness center, a rooftop lounge, and a movie theater.

What`s included in the lease agreement?

The Madbury Commons lease agreement is a legally binding document that outlines the terms and conditions of your tenancy. It`s important to read and understand the lease agreement in its entirety before signing it.

Here are some of the key items included in the Madbury Commons lease agreement:

– Rent: Your rent will be due on the first of each month. Late fees will be charged for payments made after the due date.

– Security deposit: You will be required to pay a security deposit before moving in. This deposit will be refunded at the end of your lease term, provided there is no damage to the apartment.

– Lease term: Your lease will typically be for one year. You may be able to renew your lease for an additional year if you choose to do so.

– Utilities: You will be responsible for paying your own utilities, which include electricity, water, and internet.

– Occupancy: The apartment is leased to a specific number of occupants. You will need to inform the management if there are any changes to the number of occupants.

– Maintenance: The management is responsible for maintaining the apartment and handling repairs. You will need to inform the management of any maintenance issues.

– Move-out: You will need to provide the management with notice before moving out. You will also need to clean the apartment and return the keys before your lease ends.

What are the fees and charges?

In addition to rent and the security deposit, there may be other fees and charges associated with living at Madbury Commons. These can include:

– Application fee: You will need to pay an application fee when applying to live at Madbury Commons.

– Parking fee: If you plan to park a car on the premises, you will need to pay a parking fee.

– Late fee: If you do not pay your rent on time, you will be charged a late fee.

– Cleaning fee: If you do not clean the apartment before moving out, you may be charged a cleaning fee.

Conclusion

The Madbury Commons lease agreement is an important document that outlines the terms and conditions of your tenancy. It`s important to read and understand the agreement before signing it.

If you`re unsure about any aspects of the lease agreement, be sure to ask the management for clarification. With the right understanding of the lease agreement and the fees associated with it, you can enjoy your time at Madbury Commons with peace of mind.