Things You Should Know Before Signing Your First Lease
1. It’s Important to Get Renter’s Insurance
You may think it’s not worth the extra cost, but it can be a lifesaver if your home is damaged by natural disaster or burglarized. Don’t assume your landlord’s policy will cover your belongings. A few extra dollars a week may save you thousands in the end.
2. You May Rent for More or Less than 12 Months
A one-year lease may be the most popular to sign, but some landlords may offer 18 months, 24 months or even 36 months. Wanting a shorter stay? Ask if a shorter lease is available, or maybe a month-to-month one. For people relocating, a shorter lease may be desired.
3. Know the Rules Before You Sign
Make sure you understand the community and property rules before signing your lease. If you have a pet, you’ll want a pet-friendly property. Ask about visitors and restrictions because it’s always best to know before issues arise.
4. How Much Will it Cost to Break the Lease
Life happens and although no landlord wants you to terminate a lease early, it does occur. Find out what fees you’ll incur if you do break your lease. Ask if the landlord will allow subletting, where another tenant will assume your lease but the legal responsibility remains yours.