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Information On Renting An Apartment
By Vic Hurlstorm | June 30, 2010
Unless you happen to be really well off, you will have to rent an apartment before being able to buy your own place. There are some really great deals around though, and you can stay in places and live with people that you would not otherwise be able to. If you will be renting an apartment in the future, then keeping the following points in mind is advisable…
Privately owned or property company? – You can choose to rent an apartment from either a private landlord or a property management company. There are pros and cons to both options, but you will probably be better off renting from a property management company. Why? Because they will be concerned about maintaining their brand and reputation, whereas a private landlord will not. That is not to say that you will always get better service from a property management company, just that there is a better chance of getting it.
The lease agreement – The lease is a legal document that is binding on both you and the owner of the apartment that you want to rent. It details the terms and conditions, as well as the roles and responsibilities that you both have. You must read this document very carefully. You might even want to consider having a couple of friends read through it for you too, and have them give you their opinion on it. You will be bound by whatever is in the agreement that you sign, so do not sign it if you are not completely satisfied with it.
Utilities – Check which, if any, utilities are included as part of your monthly rent. Sometimes landlords will pay the water and heating bills for you, and sometimes they will not. This is something that you should find out before signing a contract, so that you can accurately estimate your monthly budget. It is better to pay for utilities yourself if you have the option, as then the landlord cannot mark-up the price to boost their own profits.
Checking for damage – You need to check your new apartment for damage on the day that you move in and let your landlord know immediately if anything is not as it should be. If you do not let them know about existing problems, then you may find yourself being held accountable for them when you leave. If you want to totally cover yourself, then take some photos to use as evidence should a dispute arise.
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