3 Things First-Time Renters Should Know

19 January 2016
 Categories: Real Estate, Blog

If you're a first-time renter, you may have a lot of questions and concerns. Below are three things that are important for first-time renters to know and how knowing these things can give you the best tenant experience possible.

You Need to Purchase Renters' Insurance

If you're renting, you may think that your belongings and liabilities are covered under your landlord's policy, but you'd be wrong.

Renters' insurance is the perfect solution for tenants, whether renting a home or an apartment. It will not only cover the loss of your belongings in the event of a burglary, fire, or storm, but also protect you legally from any accidents that occur within your home. As a tenant, it is just as much your responsibility as your landlords to ensure that your home is safe and your belongings protected, and renters' insurance can help you go that distance.

You May Be Responsible for Repairs

It's vital that you understand which repairs are your responsibility, and which need to be fixed by your landlord.

While this information can be found within your lease, it's important to go over the details with your landlord prior to moving in. When reading through the lease, ensure that it meets your state's required landlord responsibilities and that you aren't being stuck with your landlord's job. As a rule of thumb, if the necessary repair or maintenance required makes the home uninhabitable, meaning it's unsafe to live there, it's your landlord's job to fix it. Damages caused by you, however, and regular maintenance tasks such as changing light bulbs, will likely fall into your lap. 

You May Have to Fight to Get Your Security Deposit Back

When it's time for you to move out of the rental property, it's important that you know your rights regarding your security deposit.

Prior to moving out, it's important to know exactly what your landlord is looking for when it comes to cleanliness and repairs. Get your landlord's demands in writing so they cannot back out and change their definition. Unfortunately, you still may face an upward battle just to get your security deposit back, so know your rights. Keep on hand all records of rent payments, as well as any repair or cleaning bills you've paid yourself in case they try to deduct that amount from your security deposit.  

While everyone's renting experience differs, it's important to prepare for the worst and hope for the best. The above three tips will get you started on things you need to know as a renter, and ensure a smooth and happy tenancy. 

For more information, contact a property management company like MGR Property Management Inc