How often should a leaseholder review their lease agreement?

Regularly reviewing the lease agreement is essential for leaseholders to ensure they remain compliant with the terms and conditions set forth in the contract. This practice helps leaseholders stay informed about their rights and obligations, which can change as laws and regulations evolve or as the specifics of their situation change.

Frequent reviews enable leaseholders to identify any necessary actions to comply with the lease, such as timely payments, maintenance responsibilities, or restrictions that may affect their use of the property. Additionally, being proactive in reviewing the lease can prevent misunderstandings and disputes with the landlord or other stakeholders, ensuring a smoother relationship throughout the lease term.

In contrast, looking at the lease only at the beginning or when planning to sell may leave leaseholders unaware of important provisions or changes that could impact them throughout their residency or ownership of the leasehold property. Regular assessments foster a well-informed approach, allowing leaseholders to react appropriately to any potential issues.