EXPLANATION OF THE MERLIN LEASE DOCUMENT
If there is a guarantor of the Lease, the guarantor required clause will be included in the Lease specifying that the Lease will not be valid unless a signed guaranty is delivered by all guarantors prior to the Lease start date.
GENERAL TERMS AND CONDITIONS
1. Rent. This paragraph includes that rent is payable on the first day of every month on MAA’s online payment portal or such other place as MAA may designate. It also states that if the Lease start date is not the first day of the month we will prorate rent for the first month. All rent must be paid in full at the same time and MAA will not accept partial payments. The acceptable methods of payment are listed and the Lease notes that cash will never be accepted. During the initial term the rent cannot be increased, but the Resident acknowledges that 60 days prior to the end of the initial term (or at any time thereafter) MAA may send a notice to increase the rent. If the Resident has elected to participate in the SMAArt Savings program, a section will be included in the Lease which explains the SMAArt Savings program. The SMAArt Savings fee is NOT a deposit and the Resident will be financially responsible for the full amount of any damages to the Apartment. 2. Late Payments and Returned Checks. This paragraph discusses the fees assessed for late payment of rent (along with any applicable grace period) and returned checks. It also states that after two returned checks, the Resident must pay all future rent by cashier’s check, certified check or money order. 3. Written Notice to Vacate Requirement and Automatic Renewal Term. MAA or the Resident may terminate the Lease at the end of the Lease term by giving 60 days' prior written notice. If the notice is given less than 60 days before the expiration of the Lease, then the Lease will end 60 days after the notice is given. If no notice is given and the Resident does not sign a new Lease, then the Lease will automatically renew for 60 day periods subject to the month-to-month rental rate contained in the renewal letter to the Resident. 4. Early Lease Termination or Transfer. A Resident may terminate the Lease early by providing 60 days’ written notice and paying a termination fee equal to two months’ rent. In addition to standard early termination, there are specific provisions regarding military termination of a Lease. Note that in some jurisdictions Residents are permitted to terminate a Lease early under other circumstances (e.g., domestic violence) and MAA will allow early termination without penalty under those circumstances also, as required by state or local law. If a Resident desires to transfer to another unit on the Property or to another MAA Property the Resident must have lived at the Apartment for at least six months, give 30 days’ prior written notice, pay a $500 transfer fee, pay all amounts due under the Lease, complete a new screening, pay any required deposits for the new unit and execute a transfer agreement which is available in MERLIN. MAA may deny a transfer in its sole discretion. 5. Assignment and Sublease; Resident Release. Residents may not sublease the Apartment without MAA’s consent and this includes AirBNB type arrangements. If there are multiple Residents and one Resident wants to be released, the roommate release procedure (including the payment of the $350 fee) must be followed by the Residents. If a new Resident wants to be added to the Lease, MAA must consent and there will be additional screening required.
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