What is an indefinitely valid lease?
We believe that living in a rental dwelling should be safe for the tenants even when circumstances change. Therefore, internal swaps from one M2 home to another are possible, and we mainly only sign ongoing agreements, i.e. indefinitely valid agreements, with our new tenants.
An indefinitely valid lease agreement will stay in effect until it is terminated. Both the lessee and the lessor may terminate an indefinitely valid lease whenever.
If you have a fixed-term lease, please make sure you contact your lessor well in advance to arrange for a continuation. If you do not wish to continue your lease after the fixed-term lease expires, please notify our customer service in advance of that as well.
A fixed-term lease agreement will bind both you and your lessor for the duration of the agreement and cannot be terminated.
Affordable security deposit
We think an expensive security deposit should not stop anyone from moving into their dream home. Therefore, the new leases at M2-kodit, starting from 23 May 2016, will not charge a security deposit if the tenant has a clean credit score. We will check the credit score prior to signing a lease. If the tenant’s credit score shows a discrepancy, the security deposit will be a sum equal to one month’s rent.
A flat is rented out in the condition it is at the time the lease is signed. If you notice anything amiss in the flat’s condition as you move in, please contact the Y-Asunnot customer service. Y-Asunnot makes repairs in the flats as the tenants change. During the time when a flat is occupied, only the necessary minor repairs are carried out.
Terms of the lease: home insurance and the no smoking rule
M2-Kodit requires that its tenants have valid home insurance. Having home insurance is important in case of a fire, water damage or other accidents. You can apply for home insurance at any insurance company. Today, banks also provide insurance policies.
Smoking is prohibited in all of our flats. If smoking in the flat causes a need for renovation, the tenant will be liable to compensate for the renovation costs.