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What you need to know before you rent your first place!

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Presentation on theme: "What you need to know before you rent your first place!"— Presentation transcript:

1 What you need to know before you rent your first place!

2  Landlord – person who owns property and rents it to someone else  Lease – a written contract specifying the terms of use and legal responsibilities of both parties  Rent – periodic payment for a place to live  Tenant – person who pays rent; legal name for a renter.

3  An apartment, a house, or a rented room?  How many bedrooms and bathrooms?  Near a bus route or close to a college campus?  Upstairs or downstairs apartment; furnished or unfurnished?  What amenities, dishwasher, central heat and air, microwave, washer and dryer?  Pets?

4  Will you have a roommate? More than one?  Will you each have your own room?  What happens if you don’t like living together?  Who is responsible for paying the rent?  Where are you going to live?

5  Are you neat or messy?  Do you pay bills on time?  How late or early do you go to bed?  Do you have a pet?  Can you agree on visits from friends, study hours, grocery shopping, etc? Meet in a public place and interview possible roommates. You and your roommate should be well-matched. Use a roommate contract.

6  Unsure of long-term housing needs  Limited resources for down payment  No maintenance required! More money for entertainment or savings! Less stress/personal responsibility  Wide variety of amenities as part of lease.

7  Lack of control over property  Lack of privacy  Landlord may not respond quickly to maintenance issues.  Restrictions: Can’t redecorate Limit to number of people allowed in apartment (overnight guests) No pets/children  Do not build equity  No tax benefit

8  A contract between a landlord and a tenant.  Designed to protect both your rights as a tenant and the owner’s rights as a landlord.  The tenant agrees to pay the landlord for use of the apartment for an amount of time agreed upon in the lease terms.

9  Amount of rent – exact amount and how and when to be paid Any information about late fees  Any additional fees – charges in addition to monthly rent  Security deposit – money landlord can use for cleaning and repairs once you move out.  Lease start and end date – shows the duration of your lease. Month to month – lease should indicate when lease begins and how much notice you must give before terminating the agreement.

10  Do a walk-through with the landlord.  Is it clean? Is anything broken? Do the locks work?  Write down problems and give to landlord. Date and sign. (keep a copy)  Take dated pictures of each room before you move in and before you move out.

11 Keep your home clean and in good condition. Pay your rent by on time. Don’t allow other people to live there if their name is not on the lease. The lease is a legal document. By signing it, you agree to obey its rules. Be sure to keep a copy.

12  RENTER’S INSURANCE protects your personal belongings.  Contact a local insurance agency.

13  Consult your lease and give required notice.  Leave the property in the same or better condition as when you moved in.  Do a walk-through with your landlord to check for any damages.  Use the dated photos you took when moving in as documentation.

14 There is a file on Mr Cullen’s website ‘27 - Find an Apartment” that you will need to open, complete and submit via turnitin


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