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Every day, there are approximately 2,654 new renters in America.
The excitement of moving causes most of these renters to make the wrong decisions. Often they’re too anxious to move, and they end up making grave mistakes. These are errors that make them regret renting a given apartment.
So, what can you do to avoid these mistakes?
To help you out, here are six common errors in renting apartments and how to avoid them.
1. Skipping Physical Apartment Viewing
Although it’s okay to use the internet to search for rental apartments, renting a unit without seeing it is a mistake. In some instances, the apartments’ images you see online may be misleading. So, after seeing a sign for luxury apartments for rent online, the next step is to book a unit viewing.
You want to physically visit the apartment to ensure it leaves up to your expectations and meets all your needs.
2. Signing Lease Agreement Without Reading It
Some people can’t wait to move, and that’s why they sign an apartment lease agreement without reading it. The problem is when they later discover the agreement has many unfavorable terms. At this moment, there is nothing they can do, and some people are forced to relocate, forgoing their deposits.
To avoid this mistake, carefully read the apartment lease agreement before you sign it. It may be necessary to involve an attorney before signing the lease agreement in some instances.
3. Ignoring Damages on the Unit
Many renters tend to undermine minor damages on a unit and assume they don’t matter, yet they do. That’s why before renting an apartment, you must inspect it for damages. Besides, you must inform the landlord of all maintenance issues before you move in.
4. Renting an Apartment Without Checking the Neighborhood
Although the apartment has all the amenities, you desire always check the neighborhood. Ensure the apartment is in a secure area.
5. Passing Up on Renter’s Insurance
Many people assume that since the landlord has insured the property, buying renter’s insurance is a waste of money. The reason is that the landlord’s insurance doesn’t cover your possessions. So, if something terrible, such as a fire, happens, you’ll end up losing everything.
To curb this risk, consider buying renter’s insurance.
6. Ignoring Utility Charges
Some people assume that the rent covers everything and doesn’t check utility charges when renting an apartment. Yet, these charges are not included in your rent in some instances, and you pay them separately. That’s why you should find out prior to renting an apartment all the monthly rent payments you’ll be making.
You want to be certain that you can afford these payments before moving in.
Avoid Errors in Renting Apartments to Save Money
To save money, you must avoid the errors in renting apartments. So, talk to your landlord about all the utility bills you’ll be paying. Also, carefully read the lease agreement before signing it.
Enjoy more Affordable Housing, Real Estate Laws, and Mortgage tips by checking out our other articles.