Renting a Property?
Before handing the keys to your house over to a complete stranger for care, there are decisions you need to make. In fact, the decisions you make now, before even searching for a tenant, will make the biggest impact on the success of your rental.
A lease is an agreement that outlines the obligations of the owner and the tenants of a house or apartment. It is a legally binding document that courts will generally uphold in legal proceedings, so it is important for you to know the exact terms of the lease agreement before you sign it. Before agreeing to lease a home to you, a landlord may review your credit report, so you may want to get a copy before you start your apartment search. Some things to look for in a lease:
When you’re looking for an apartment for the first time, it can be overwhelming. The best way not to panic is to break the process down into 10 sequential steps. The timeline will mostly depend on how long it will take you to save the upfront cash you’ll need, but after the money is in the bank, you should be in your own place in no time.
- Clauses that allow the landlord to change the terms of the lease after it is signed
- Requirements/responsibilities of the tenants to do routine repairs such as lawn maintenance, cleaning or notification of repairs
- Restrictions that would prevent you from living normally or comfortably in the home
- Term of the lease and any important dates such as when the rent is due, or garbage pick up days
- Extra fees for parking spaces or storage, garbage collection, and pets
- Information regarding utility providers, how to arrange for service and whether you or the landlord is responsible for those bills