9 Year Mortgage gives 4 tips for new renters
9 Year Mortgage has watched the changes in the housing market lead to many home owners becoming renters and the demand for rental properties increase. Different parts of the country have been affected differently but, nationally in 2011 rentals increased in price by 2.5%.
Often perspective renters feel frenzied due to the shortage of properties available but, it is important to not rush into a rental agreement. If you become aware of rental laws in your state and keep a long-term perspective you’ll be better able to sidestep a bad rental experience. 9 Year Mortgage has compiled the following checklist to make sure a rental situation will be right for your needs:
1. Understand the contract before you sign. Don’t rush into signing a lease; read it over carefully and maybe even take it to a lawyer or friend who better understands legal documents and can explain it to you. Take time to ensure the parameters listed don’t impinge upon your rights and that you are okay with the location’s polices on utilities and other amenities. Listen to your instincts and if something doesn’t seem right discuss it with the home owner before moving forward this will ensure you won’t pay for being in a hurry later.
2. Be sure the agreement fits your lifestyle. Before you decide on a rental be sure that polices regarding visitors, maintenance and animals will work for you if not, discuss the issues with the landlord to see if changes can be made before it’s too late.
3. Get to know the area. It’s often a good idea to meet the neighbors and ask them about your potential rental as well as the community as a whole and visit your perspective home at different times of day to see if the setting changes as the day progresses. Take time to look up the crime rates for the area to make sure you’ll be safe and comfortable in your new location.
4. Take photos before getting settled. Chances are you have a camera of some kind available to you use it to make a record of problems that are already there and write a list of thing that are in disrepair, before you more in, sign and date it and give the home owner his or her own copy incase problems arise later on.
5. And get a renters insurance policy. Having renters insurance that adequately covers your belongings is essential because in most cases your landlord’s will not cover your possessions if they are damaged. Getting coverage for emergencies like fire, flood or theft isn’t expensive but going without it can be; make sure you get renter’s coverage right away.
9 Year Mortgage encourages you to give yourself the time needed to insure you are moving into the right rental for you. As you set out to find a new place remember to explore your options and only commit if you’ve done you homework on the rental if you do you’ll be able to move in with confidence that you’re where you want to be. 9 Year Mortgage wishes you good luck as you house hunting!
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