What to Know When Leasing a Property
Here is what you need to know and the questions you need to ask when considering renting a property.
If you are considering leasing a property, what do you need to know, and what questions should you ask beforehand? Whether you are looking to rent a condominium, apartment, or a single-family home, here are the things you should be asking:
What is included in the rent deposit? Your deposit is usually two months’ rent—the first and last month. What may be included in the rent: utilities, parking, a locker, laundry facilities, internet (if so, find out who the provider is), and so on. Find out which of these is included.
Can I decorate the unit? If so, to what extent?
Are pets allowed? Are there size or species restrictions?
Can I renew my lease? Usually what we do with our clients is put in an automatic renewal within 60 days prior to the lease expiring. If you don’t do this, after the lease expires you go on a monthly basis, then there must be a 60-day notice if a tenant wants to vacate.
Can I sublet my unit? Yes, by law the landlord cannot stop you from subletting the unit.
How do I pay my rent monthly? Do you give checks or is it an automatic payment? Discuss this with the landlord. They cannot require you to give post-dated checks, but this is sometimes easier.
Additionally, there are things you need to have ready when you’re about to make an offer to lease. Have your deposit ready (a check), have your credit scores already checked, fill out a rental application, have a letter of employment, and reference letters are always helpful. Also, many tenants don’t realize you need tenant insurance for your owned items in the unit.
If you have any further questions about what you need to know when leasing a property or concerning real estate in general, you can call or email us. We would be happy to help you.