All lease agreements are not created equal

Living in today's modern world, somewhere along the way you're going to be asked to sign a lease agreement, either for where you live or for your business. The most common misconception I've seen among people is that all lease agreements are basically the same and are nonnegotiable. That could not be further from the truth. Almost every lease agreement is negotiable. Some lease agreements are very basic, utilizing an Allstate form (Allstate is a legal publisher in New Jersey that produces forms) with a rider attached to it with specific terms and conditions relating to the leased space. It's easy to spot an Allstate form as it is stated right on the bottom of the document. In contrast, there is the custom lease agreement created by the landlord or their attorney. Also, depending on the age or credit rating of the individual leasing the space, you may see a space for a personal guarantee by a third-party. In my own life, I have recently experienced my daughter asking me to review her first lease agreement for off-campus housing with me as the guarantor of the lease. The first thing she told me was that the agreement was nonnegotiable, and all of her friends had already signed it. But, that does not mean the lease agreement is acceptable. Avoid signing a lease agreement without careful review.