Mistakes with renting apartments are bound to happen, especially because more than 44 million Americans pay monthly rent. Mistakes can be costly for both the renter and the landlord.
Don’t want to make those mistakes? Want to know how you steer clear of them altogether?
Here are the top 5 mistakes with renting apartments and how you should avoid them.
1. Research the Management Company
Research the management company to find out about things like broken water pipes, busted heating units, and old appliances. How do they handle those situations? Are they quick to respond?
Go online and read reviews about their management style and by checking with places like the Better Business Bureau or City Hall to see if there is a history of problems. Ask friends, co-workers, and family if they’ve rented from the company to get their input. Also, don’t be afraid to ask existing tenants who already live in the place you are seeking to rent in your search for options for apartments.
2. Read the Lease
Read the lease to find out what your monthly responsibilities will be, which can include water, cable, and electricity. Apartments have lease agreements to tell you if you can have pets and if there are parking restrictions.
Take the lease agreement to an attorney if you are unsure of any questionable language. Ask questions of the landlord if you are unsure!
3. Get the Right Roommate
Choose the right roommate and make sure this person is someone you can live with. Sometimes your best friend may not be the best person when living with roommates.
Ask about their work schedule, how often they like to have guests, and if they plan to share things like kitchen utensils. Do they pick up after themself? Make sure this person has a steady income to pay their portion of the rent and utilities.
4. Get Renters Insurance
Get renters insurance to protect your personal belongings in case of a fire or flood. Your landlord will fix the damage to the property, but the contents of the rental unit will not be covered unless you have renters insurance.
Shop around for the best deal. Check with your car insurance agent about adding renters insurance to your existing policy. It costs about $15 to $30 per month (depending on where you live) and can be a lifesaver in a disaster. While the state you live in may not require renters insurance, your landlord may make it mandatory for the rental agreement.
5. Report Any Problems
Report any problems should they arise. Not doing so could make the problem worse. A faulty light switch could cause a fire – something neither you nor the landlord would want.
Talk to your landlord about the small things, too. A failed lock, leaky pipe, clogged sink, or drafty windows should all be fixed. You are paying the rent, so be sure to get the most out of your rental unit!
Avoid Mistakes With Renting Apartments
Do your research to avoid mistakes with renting apartments and be sure to read the lease, get the right roommate, obtain renters insurance, and report any problems with your unit. Following these steps can help make your living experience much easier!
If you like these tips and suggestions, be sure to read our blog for more helpful advice.