Renting An Apartment
Written by Heather Matthews - Tuesday, 10 March 2009
|
288
(2 votes, average: 5.00 out of 5)
 Renting an apartment is a big decision. Even though you aren’t buying, you need to be certain that you’ve examined every pro and con before you sign on the dotted line. Whether you are signing a lease, or renting month to month, you need to be aware of your rights as a tenant.
By checking out our top ten list of things to look for when you rent an apartment, you can be certain that you’ve done the best you can to ensure your new home is a practical, cost-effective choice for you. Here are the top ten things you should be aware of before you rent your next apartment:
10.) Location – Take the time to look around the area before you rent. Even if the apartment is great, and has all the features you are looking for, it may not be in the best area. Things like local crime rates, public transportation, and the proximity of grocery stores, hospitals, schools and libraries should all be examined before you make a decision.
9.) Tenants – You’ll need to ask the other tenants in your building about their experiences. If you can, chat with other tenants after you view the apartment. Chances are, they will be open to letting you know about how easy it is to deal with landlords, and what sort of experiences you will have, living in the building. Find out about laundry facilities, if there is no washer and dryer in the apartment, and find out about practical concerns like noise, partiers, and the average demographic of the other tenants. Looking for an apartment that houses people much like yourself is your best option if you want a happy renting experience.
8.) Contract – Read the fine print, and be sure that you understand everything outlined in your rental agreement. You need to know whether or not smoking and pets are permitted, and what rights you will have if you are unhappy with your apartment or landlord. Many people jump in and sign on the dotted line without going over the contract, line by line. You may regret rushing into something if you’ve neglected to really understand the terms of your contract. Taking the time to read your contract is vital if you want to take advantage of your new situation. Be wise and read the fine print!
7.) Lease Termination – You should choose an apartment based on the terms you want, when you terminate the contract. Getting stuck in a lease can be aggravating when you discover that the apartment does not meet your needs! In today’s rough economic climate, it can be scary signing on for a long-term lease. Many people are losing their jobs, and layoffs are becoming commonplace in America. Think ahead and be sure the lease termination clause in your contract gives you some room to maneuver.
6.) Price – Look around and compare rental prices in the area you prefer, to make sure you aren’t paying too much. It’s very competitive in the real estate market right now, even for rentals. Find out what other, similar apartments in the area are going for, and what features they have. Then you’ll know whether or not you are getting a fair deal.
5.) Security Deposit – Make sure you understand how the security deposit works in your rental agreement. You may need to pay a set fee, in order to move into your apartment. Also, be sure you understand what the terms are for retrieving your security, or damage, deposit when you decide to move out. A security deposit should be fair on both sides, for tenant and landlord. Don’t be afraid to ask specific question about what your landlords expect from you!
4.) Giving Notice – Find out how much warning you need to give your landlord, when you decide to leave your apartment. Know from day one if you will need to give one month’s notice, or more. Avoid problems before they occur by understanding how much notice is required on your end.
3.) Subletting – Subletting can give you the freedom to rent your place to others if you decide to live elsewhere, but are still bound by your rental agreement. Some landlords permit subletting, and others do not. You can get into trouble if you attempt to sublet your apartment without having the legal right to do so.
2.) Late Payment Fees – If, for some reason, you cannot make your rent payments on time, be sure you know whether or not you will be hit with extra fees for late payment of your rent. You will need to take pains to pay on time, if there are extra fees added on to your rent when you are late.
1.) Know When The Rent Is Due – Some landlords prefer payments mid-month, others want their rent on the first of the month. Make sure you know when the rent is due, to avoid extra fees or conflict with your new landlord. Also, be sure you know what extra costs you are responsible for, such as heat and hot water. Some rent includes these things, and some does not. When you are considering your monthly budget, you won’t want any unpleasant surprises.
|
More articles by Heather Matthews
|
|
|
Subscribe to this comment's feed