Renting an apartment or home for the first time? You’re not alone. As more young adults prepare to move out on their own, renting that first place to live may make more sense if your budget is limited or if you’re not quite ready to commit to a geographic area. Once you have decided upon a place, and your landlord is satisfied with your credit and references, next comes negotiation of the lease. This will determine what you are responsible for in the home while you live there. What should you expect to find in a lease agreement? As this is a legal contract between you and the owner of the home (or the management company in charge of an apartment complex), it will cover every aspect of your responsibilities while you live there, as well as what is expected of your landlord or management company. This will include the following:

Duration of Lease: Whether you plan to rent initially for a year, half a year, or month to month, this will be laid out in the lease you sign. It is important to know exactly how long you will be able to legally stay in the living space.

Utilities Covered: Depending on where you live, things like sewer and garbage pick-up, cable, water and heat are covered in your rent. If not, you will be responsible for extra bills, so find out what comes with the place in which you intend to live.

Pet Policies: Some apartment complexes have an allowance for pets. A fee may be required, and there also can be restrictions on the pet’s size and the type of pets allowed.

Parking & Storage: If moving into a complex, you will be allotted one or more parking slots and perhaps passes for guests. On-site storage for apartments may come with the lease or at a premium, be sure to check.

Damage: Who is responsible for covering damages done to the property. Against, this will depend on the type of event and the extent done.

Exiting a Lease: If you plan to buy a home sooner than expected, a lease may prevent you from moving in on a desired property. You may wish to negotiate for a way to break the lease in this event.One thing to know about leases for apartments and homes is that terms are negotiable if handled within reason. Text the potential for flexibility in a lease and be sure to know the basics. Kathryn Lively is a freelance writer specializing in articles on Virginia Beach apartments and downtown Norfolk condos.