Tuesday 25 November 2014

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.