If you’re like millions of people worldwide and you’re looking at making a move to a new town, city, country or even just to a new building across town, then you might be wondering if you should rent or buy. Renting is a great way to save money and stresses as with a landlord if things go wrong it’s their problem, not yours. This is great if something huge happens like the water heater breaks or your fridge goes on the fritz, but what about other perks of renting and what should you do to make sure you’re protected in your next rental? Check out these tips below to make sure you get the best deal possible.
It’s important to read over the small print in your contract. Sure, we all know reading long and legal jargon is a bit on the dull side, but you need to know what your obligations are as well as those of the landlord. The contract will highlight things like when rent is due, what it covers in terms of bills (if any), the landlord’s obligations to keeping the house in good working order, how often inspections are, what the rules are in terms of smoking and pets as well as how many people are legally allowed to reside in the property. Be sure that everyone who is going to be living at the property is on the rental agreement to ensure everyone is contractually obliged to meet the requirements regarding things like tenancy lengths and rent to protect yourself from unscrupulous serial roommates who like to leave you high and dry when they pull midnight moves and don’t pay their share.
Extras and the Walkthrough
Make a note of everything, and we do mean everything that comes with the house such as appliances, any window coverings, carpeting and the like. It’s imperative that these items are returned or put back in place upon leaving the property or it could be counted against your damage deposit. Likewise, it’s hugely important to make a note of every little thing on your walkthrough that a landlord could try to hold you accountable for. Small dent in the fridge door? Note it. Even if your property comes with a small wood pile when you move in, you should note it because landlords could hold you accountable for “left belongings” on your departure for something that was there on your walkthrough when you moved in but not noted down.
Tenancy insurance is hugely important to keep your belongings safe and insurance through agents such as HomeLet ensures you are getting the contents coverage insurance that you need so you can rest easy at night. Many insurance providers will provide some form of renters insurance if you want to go with your own company and often will provide some kind of insurance bundle for home, auto, contents, life and more.
So there you have a couple of great suggestions to keep in mind on your next move and rental tenancy. Always be sure to go over everything in the contract and walkthrough to protect yourself and your interests. Most of all, enjoy your new home!