Have you finally decided that it’s time to rent your own place? It’s a big step! It’s one made with many decisions leading up to it and following it. I’m sure that you’re very excited! You’ve been looking online, you’ve set up a few appointments, and maybe even have seen a few places. There are some things that are often overlooked but unexperienced renters. Read below so you can know more of what to expect during your first rental experience.
- Not Just Rental Costs
Some see the per month rental cost and think that’s all they have to pay. This is not true. You need to be prepared for utilities (gas, electric, water, sewage, trash, cable, internet, etc.), security deposits, pet deposits, extra costs for having a pet, and even your first and last month’s rent upfront. Not all of these are guaranteed, but you are likely to add some of these costs to your monthly bill.
- Properties Will Run “Checks” On
There are a number of checks that a property will run before they accept your application to make sure that you are suitable and able to live in their community. Some of these checks include background checks, credit checks and criminal checks.
- Your Lease is More than a Piece of Paper
Your lease is more than just a piece of paper you sign to get into your apartment or a prop for a selfie. Your lease has very important legally binding terms in it that are important that you know. For instance, you will probably sign a 12 month lease. If you decide you want to move before then, there will be penalties outlined in your lease. Other rules and regulations that you must follow are outlined here that protect your property, but they protect you as well, so make sure to read up!
- What is Covered vs. What isn’t
Properties are responsible for making sure your home is in a habitable condition and that its appliances are in good working order. They will be responsible for fixing it unless you break it. When you first move in, make sure to check everything thoroughly. They are not responsible for your personal belongings, however. This is a good reason to get rental insurance. In fact, many properties will require that you get it, so make sure to check into that as well.
There are many other things that you will uncover in your rental search that you may not have known before, like that not all properties are pet friendly. This list will get you started and have you more prepared and knowledgeable in your search. Happy hunting!