Living on your own

The costs of moving moving-in costs can include: ■ Rent for first month ■ Rent for last month ■ Security deposit ■ Utilities deposit ■ Telephone deposit

The costs of moving moving costs can include: ■ Renting a truck ■ Hiring movers ■ Others?

rule of thumb: ■ You should spend no more than 32% of your gross income on rent or mortgage payments.

Before you sign a lease read it carefully! What is a lease? A lease is a written agreement between the landlord and the tenant. In New Brunswick, both the landlord and the tenant must sign two copies of the Residential Lease. The landlord and tenant should each keep one of the signed originals.

Security Deposit Your landlord might ask you for a security deposit, which can be no more than a full rent payment. (So, if rent is $500 every month, the most you'll have to pay for a security deposit is $500.)

Your Responsibilities Paying for any damage to the walls, floors, and furniture. Not making alterations that the landlord must fix later. Giving landlord a new set of keys if you change the locks. Paying all of rent if roommates move out and you stay. Landlord cannot enter premises without the tenant’s consent (24 hours), or unless an emergency exists.

Your responsibilities: Giving notice if leaving at the end of the lease. Giving notice if leaving before lease is up and paying rent for balance of lease if landlord can’t find new tenants.

rights and responsibilities of landlords landlord’s rights: Charging extra if rent is late (amount specified in lease agreement). Keeping part or all of the security deposit if you leave before the lease is up (as specified in the lease).

Charging rent through the length of the lease even if you aren’t living on the premises. Keeping all or part of security deposit if you damage walls, floors or fixtures, or if you make alterations that have to be fixed after you move out.

landlord’s responsibilities: Making repairs in a reasonable amount of time. Keeping premises safe and sanitary. Entering premises only at agreed-upon time to make repairs(unless there is an emergency), or to show the apartment to potential renters if you are moving out. Collecting rent. Maintaining exterior grounds of building.

Quick Tips Ask around. See what others think of your potential landlord. Trust your roomies. You should each sign the lease, so be sure you can count on each other. Slow down. Keep your money in your pocket until you've inspected the place and signed the lease. Put it in writing. Protect yourself by having your lease, inspection report and any other issues documented in writing. Get it fixed. As soon as you notice an issue, let your landlord know right away. And put it in writing! Pay up on time. Happy landlords get paid on time. If you are late, the landlord can begin the process to evict you. Don't forget the notice period. You must give advance written notice to move out. Check your lease if you can't remember how much. Pack it up. Take all your belongings with you when you leave. Questions? Contact the Office of the Rentalsman. Service New Brunswick

Lease assignment Complete the lease agreement and rental agreement

Rental evaluation What are the most important things to you? What do you think should be left off the list?

Living on your own during post-secondary studies assignment