This is a printed document of one or two pages which specifies the number of rooms, utilities and options such as parking or storage space. Rental agreements usually are on a month to month basis. The lease will most likely be for at least one year, and you will have to make an initial payment, possibly the first and last month's rent. You may also be asked for a damage deposit, which will be returned to you when you leave if you have not caused any damage to the property beyond normal use. For this reason it is important to note any damage and tell your landlord before you move in.
Condominiums can be both apartments or townhouses that are individually owned.
As well as the mortgage payment and taxes, you will make a monthly payment, the condominium fee, to the manager of the condominium for common maintenance and repairs. 2001 Jurock International Net. All rights reserved.