![]() ![]() Although we obviously hope there are none, we want to make sure that the landlord bears full responsibility for anything that's not our fault as the tenant. On top of this, we want to make sure we communicate any maintenance issues with our landlords immediately. And so I make sure that I pay my rent via credit card or via ACH Direct Deposit from my bank account, so ultimately I always have that strong record of them pulling money from my account that they can never argue with. If there's ever any debate over whether or not you've paid, you want to have the receipts to prove it.Īlthough I own my own home, I'm typically renting in whatever city that I'm playing in. Make sure you're keeping an accurate record of your rental payments. This is what keeps our credit in good standing, and no one likes to pay late fees. Most importantly, we want to make sure that we're paying our rent on time. So you've taken some steps to protect yourself before moving in, but now what are some things that we should be mindful of once we're actually a tenant? Keep Up-to-Date on Rent Payments And just the peace of mind you receive is likely worth the small additional cost. Plus it's usually not too pricey, usually less than 15 bucks a month. Renters insurance covers events like this and helps replace your belongings in the event of damage or theft. However, if that ceiling leaks onto your beautiful flat-screen TV or your laptop that you need for work, then it could be on you to replace it. That means if the roof goes bad or there's a leak in the ceiling, their insurance will help them cover it. Most landlords have insurance over the entire property, the asset. Keep Yourself Honest With a Financial "Halftime" Audit Most landlords already require this, but if yours doesn't, then you definitely want to make sure that you get this for yourself, and here is why: ![]() You should also consider getting renters insurance to protect your assets. By texting or emailing these photos to yourself and your landlord, you'll create a dated account of the state of the apartment and be able to prove you're telling the truth should a conflict ever arise. It's good to take plenty of photos when you move in – specifically of anything that appears damaged. If your landlord claims there was a rocking chair in the living room, and you swear there wasn't anything there when you moved in, that's going to make for an awkward conversation at the end of the lease when you want your security deposit returned. If your apartment is already furnished, you want to make sure you're on the same page as your landlord regarding what's already there and the actual condition of the furniture. This means going through and checking the entire property, checking for damages on the walls, the floors, the ceilings, as well as making sure that all the goods and appliances in the home work as intended. To ensure you do get your security deposit back, make sure you perform a moving inspection and complete a moving checklist. ![]() Plus, if you're using a realtor to aid you in your search, you'll typically pay them another month's rent or more as a broker's fee.Įven though the first and last month's rent is money you'd be paying anyway, and you should ultimately receive your security deposit back (so long as you leave the apartment in good condition), you want to be prepared for the large upfront cost before signing the lease. And depending on your landlord, you could be required to pay last month's rent as well. So, when looking for an apartment in your price range, you need to make sure you're considering the full cost of securing a place.īefore moving in, you're going to be responsible for paying the security deposit and the first month's rent. We want to make sure that we're taking the proper precautions to protect ourselves, our families, and ultimately, our money. If you're not careful, all of these things could be blamed on you. But after spending a few days living there you realize that the washer isn't working, the fridge isn't cooling, and there's a leak in the ceiling. It's easy to tour a beautiful apartment and fall in love at first sight. But, as always, we want to make sure we're taking measures to safeguard ourselves. There's a lot to be excited about when renting a new apartment. Renting also helps you build your credit, allowing for increased savings, and reduced debt if done correctly. So, first and foremost, why actually rent in the first place? Well, renting allows for increased mobility and flexibility as opposed to buying, and also requires less maintenance on behalf of the tenant. ![]()
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