Are you finally planning to move out of your parents’ house? If so, you are probably in a process of look at local apartments, trying to figure out which one would be best for you. You are not alone either — studies show that more than half of Americans are finding renting much more appealing than ownership in recent years.
There are usually hundreds of apartments for rent in any city, making it difficult to narrow your list down. But once you do your background checks on a landlord, scope out the neighborhood around apartments on your list, and ask friends for their tips on top places for rent, choosing the best apartment rental may not seem as daunting.
Finding the right place in only the beginning of the process, though. Reading through the lease carefully will be the key to living peacefully in your new pad. Here are a few things on the lease you should pay attention to.
- Renewal. You may not certain if you plan to stay in the apartment for more than a year, but it would be worth your time to find out what the renewal process is. Many apartments for rent require renewal notification at least 90 days before the lease expires, and if you miss that date, you may not be able to renew at all. While smaller complexes often offer a degree of leniency, you will want to clear this up with the landlord or property manager. Also, be sure to check if the rent will remain the same or go up.
- Insurance. It is critical to talk to the landlord about the building’s insurance plan. In most cases, the building’s insurance does not cover a tenant, which means that if there is a fire, or water damage, a tenant is responsible for replacing his or her own belongings. Check the lease to see if anything of yours is included in the landlord’s insurance plan. If not, you will want to get renter’s insurance to protect yourself and your things.
- Subletting. In the event that you need to travel out of the country, or go on vacation for more than a few months, you will want to find out about subletting. Some leases stipulate that the landlord will have to approve subletting before you can go ahead with the process. They also may state that a landlord has to agree to who you want to have sublet your apartment.
Finding apartments for rent that meet your expectations are not all that difficult. You just have to make sure that the rental apartments have reasonable leases that give you a degree of freedom. Then you can rest assured that you will thoroughly enjoy your newly bought freedom.