7 Mistakes Renters Need to Avoid
Even property owners can help new renters avoid common mistakes to make the entire leasing experience better for all parties involved.
As a renter, spent hours searching for the perfect rental home or apartment. You’ve spoken with every rental property manager in your area and you’ve finally settled on what you hope will be your new home. Unfortunately, many people get caught up in the moving process and make some detrimental, yet avoidable mistakes. Here are some things you’ll want to avoid as you prepare to move into your new rental.
Forgetting to Buy Insurance
The landlord you are renting from will be responsible for placing insurance on the dwelling – the house or apartment building in which you’ll live. That insurance coverage will not, however, cover you for damages to your clothing and other personal belongings if there is an incident such as a robbery or a fire. You’ll need to purchase renters insurance to protect yourself against damage to your property.
Clarifying Property Management Responsibilities
Let’s say you’re preparing to rent a house. Are the terms for maintenance and upkeep clearly stated in your lease? If not, have the lease amended. It’s one thing to be responsible for mowing the lawn but it is unreasonable for you to be expected to make major home repairs on a rental – especially if they’re due to wear and tear and not your negligence.
Ditching the Lease
We have no idea why it happens, but some people prefer to rent their properties without a properly signed lease. Talk to your landlord or rental property manager about the lease and make sure it is signed before you move in. The lease isn’t designed to protect the landlord alone. It protects the tenant as well – from illegal eviction, unfair charges, and more.
Ignoring the Move-In Report
When you move into a property, you will likely be asked to fill in a report outlining any problems you encountered. Don’t ignore this process. Take the time to walk-through the property and make notes of any damages you find. Take pictures, if you can. Documenting existing problems will keep you from being held responsible for them later on.
Asking about the Security Deposit
Some fly by night property owners will take your security deposit and spend it. Legally, it needs to be deposited into an escrow account and the interest belongs to you. Ask your landlord for the information about the bank in which he’ll be depositing your security deposit and make a record of the account number. The escrow account should hold your money alone.
Not Taking Notes
Make sure you take notes every time you talk to your rental property manager. If there is a problem, you may need to refer back to these notes – especially if you end up in court. You may even want to go as far as sending your landlord an email to confirm the details of every conversation you have so that you are both on the same page.
Understanding Fair Housing Laws
Every state has laws governing fair housing. Make sure you read up on those laws and have a general understanding. Doing so will ensure your landlord isn’t able to discriminate against you in any way.
Brush up on each of the above points and make sure you’re prepared before you move into your new rental property. You’ll be well-prepared for a year – or more – of stress free living.
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