All About Renting
Community: Before you begin your rental search, set your requirements. Rentals come in all types, each of which has its advantages and disadvantages. Your first step is finding the right community. Whatever your likes and dislikes, be open to the advantages of your new locale. Every destination has fashionable communities, but you may find rents are lower in less well-known areas · Take a test drive at rush hour to determine commuting time and find out if bus transportation is available if you have school-aged children · Consider the quality of the school system.
Affordability: In addition to the monthly rent, you will be paying Utilities (telephone, electricity, water, heating used in the house), maintenance fees, Recreation fees, Trash collection fees.
Evaluating a Rental: When inspecting a rental, look at all the rooms thoroughly present to avoid surprises or conflicts over property damage.
- Ask who pays utilities: electricity, fuel oil, or gas for heat and hot water; water/sewer charges; cable television; etc.
- Be aware that yard maintenance is your responsibility.
- Make a list of all damages, and give a copy to the landlord
- Prior to signing the lease, clearly identify who is responsible for repair of damages and the timing for repairs
Deposits: Most rentals require a deposit when you sign the lease agreement. This deposit can total as much as two months' rent as security plus the annual rent.The deposit can be used by the landlord for the following:
Cleaning deposit - For cleaning/painting the unit after you leave (usually not refundable) ·
Damage deposit - Returned to you unless you caused unreasonable physical damage to the property or economic damage by failing to notify the landlord (in writing) about moving. Document (by writing and/or by photograph) any damage at the time you inspect the unit prior to occupation
Pet deposit - An additional deposit for any damages your pet might cause or for professional extermination after you leave.
Signing the Lease: For your protection, always insist upon a written lease or rental agreement. Read the lease carefully and know exactly what you are agreeing to. If any clauses prohibit you from using the rental as you intend, finalise those before signing.
Make sure the following items are included in your lease:
· Description of property
· Duration of the lease, including a clause to terminate the lease in case of a transfer due to employment
· Names of the landlord and the tenant
· Rent amount and due date
· Amount of security deposit and any prepaid rent
· Responsibilities for maintenance
· Notice requirements when terminating the lease
· Rules and regulations of the landlord
· Rights and responsibilities of both the landlord and the tenant
· Items included in the rental unit (e.g., appliances, carpeting, utilities, etc.)
Questions to ask your landlord:
· Are pets allowed?
· What deposits are required?
· What are your landlord's entry rights?
· Are recreational facilities included in the utility expenses?
· Are electricity, water, and heat included in the utility expenses?
· Are you charged a fee if you are late with the rent?
· Will you be able to renew the lease; if so, what are the rent increases?
· How much time is required for notice of renewal or termination of the lease?
· Is the escalation clause within local rent-control regulations?
· Are there options to extend the lease?