Residential Condominium Lease Contract Agreement

Frequently Asked Questions

Does a residential condo lease agreement need to be notarized?

Yes. While an unnotarized lease contract is legally binding between lessor and lessee, notarization converts the contract into a public document, making it enforceable against third parties and building administrations.

Who normally pays the condominium association dues?

It depends on the agreement. Most residential leases specify that regular monthly association dues are paid by the owner (lessor), while utilities (electricity, water, internet) are shoulder by the tenant (lessee).

What happens to the security deposit upon lease termination?

The deposit is refunded to the lessee typically 30 to 60 days after turnover, minus documented deductions for unpaid utility bills and physical repairs beyond normal wear and tear.