Important Things Tenants Need To Consider

Whether you are renting an apartment or a home for the first time or are a regular tenant, you must know certain things. As a tenant, you have certain rights and responsibilities and it is important to know about them before you move in the rented property.

Go through the lease and understand all the terms

The lease can often be a confusing document that you need to read, understand, and sign before moving in rented property. By understanding the lease, you can avoid various problems that can arise later on and spoil your relations with your landlord. If there is any clause that you do not agree with, you should immediately discuss that with your landlord. This will also avoid evictions. You can ask your landlord to explain any point that you fail to understand. Make sure the lease has clear mention about the refund policies and the expectations of the landlord when you leave the property.

Invest in renters insurance and get home security system

Often landlords get insurance policy that covers structural damage to the house or apartment; however, that policy does not cover the possessions. To cover your personal possessions you need to get renter’s insurance, which is often affordable. It is crucial for you to buy home security systems. Having smoke detectors, theft and fire alarms, and other security systems, helps you save on your insurance policy. Most of the insurance companies offer discounts to the tenants who have monitored home security at home. You can discuss this with your landlord who may consider installing security systems.

Negotiate the rent if required

If you have been responsible tenants and have paid your rents on time, then your landlord will definitely like to retain you as a tenant. While extending your contract or lease, you can negotiate with the landlord to keep the rent unchanged or increase a lesser amount. You must have an idea about the local market. This will help you know whether the rent increase is fair or not.

Bring all the maintenance works to the notice of landlord

Before you move in your rented apartment, make sure you point out the maintenance works or any problems in the apartment to the landlord, so that these issues do not become big problems and strain your relationships with your landlord. If possible, get it in written, as this can help you claim for any damages that may arise due to the problems. Save all correspondence and emails related to the discussion. It is always crucial to document the condition of the apartment before you move in. It is wise to take pictures of the condition of the apartment and make the landlord aware of the issues such as broken lock, etc.

Tips For Successfully Renting Home

Many people ponder over the idea of letting out their homes in a down market, but if you play your cards right, this can prove to be a rewarding experience. If your Rental Home is lingering on the market for quite a long time, here are a few tips that can help you hire out your home quickly:

• Prepare your home exterior: You can make your home look attractive by removing unnecessary clutter, repairing cracks, holes or blemishes in the driveway, painting the window frames and doors, and making sure the lawn is freshly cut. You can also take help from a professional real estate agent to assist you with the home staging process.
• Prepare your home interior: Make sure all aspects of your rental property are up to scratch and meet the standard requirements of tenants. To fulfill the purpose, you need to follow the below mentioned steps:

1. De-clutter: Create more space in the house by moving some furniture into storage. Clean away or remove unnecessary clutter like books, clothes, etc.
2. Minor repairs: Replace broken tiles, fix leaky taps and cracks in the walls and change all the damaged appliances.
3. Cleaning: Clean the carpets, floors, windows, fixtures, shelves and all the rooms in the house.
4. Decorate: Add a touch of paint to the house, to re-energize the appearance of all the rooms.

• Set a competitive monthly rent: Before deciding for the monthly rent, do a little research in your community and the neighboring areas. Also, add the costs like expenses involved in bringing the property up to the required standards, furniture, furnishings and insurance fees.
• Promote home to masses: Most of the tenants start their search online, so it is important for you to list your home on all major real estate portals. For this, you can hire a real estate agent, to list your home in your areas’ Multiple Listing Service (MLS).
• Hire professionals: Renting out home is not an easy task, and it is important to take help from a professional. The Property Manager can help you determine landlord-tenant laws, prepare all the documents, manage your house, conduct property inspection and screen potential tenants. The manager takes care of the house even after it has been rented out. 
• Pre-tenancy checklist: Preparing a checklist is helpful in reminding you about the next step to follow in renting your property. Some of the points to be included in the checklist are as follows:

1. Updating your property’ insurance
2. Getting permission from mortgage lender
3. Ensuring safety of tenants in the house
4. Checking all the electrical wiring

Do keep in mind the above mentioned points to make the whole experience of renting out your home a pleasant and positive one.