4 Things To Look For In An Apartment Lease
Posted on: 16 October 2017Share
When you rent an apartment, the landlord will ask you to sign a lease. Before you do this, you should read through it carefully so you know what you are agreeing to. As you read it, here are four important things you may want to look for before you sign the document:
Does it allow subletting?
Subletting is something that renters do when they need to move out of their apartments before their leases end. When you sublet, you find a person to take over the remainder of your lease, and the person either pays you each month and you pay the landlord the rent, or the person might pay the landlord directly. Some landlords do not allow subletting, but others do.
Can you have roommates?
If you are thinking about getting a roommate to help pay the bills, you should read the lease to see what it says about this. There are landlords that prohibit this, but there are also many that allow it. This is something you should find out before you rent an apartment if you think you might need a roommate to help share the expenses with.
What is the fee for paying your rent late?
While you may never plan on paying your rent late, there may come a time when you have to due to unexpected expenses. This is why it is important to know exactly how much extra you will have to pay if you pay it late. You should also look for the exact terms on what the landlord considers late. For example, some landlords give a few days grace period with rent, while others may not. It's important to know the exact rules of this before you rent a place.
Are you required to have renter's insurance?
Many landlords do not require tenants to have renter's insurance, but some do. This is important to know before you agree to the lease so that you can determine if you need it or not. Even if the landlord does not require that you have it, getting renter's insurance is still a good idea. It is very affordable, and it offers insurance coverage for the things you own.
Reading through a lease before you rent an apartment is an important step to take. If you are currently looking for an apartment to rent, contact a property management firm in your area to see if they have any units available. Contact a company like Campus Palms Apartments for more information and assistance.