Renting an Apartment

What you need to know before you

rent your first place!

Vocabulary 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.

Your Needs & Wants 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?

Roommate?

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?

YOUR ROOMMATE QUESTIONS

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.

Advantages of Renting 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.

Disadvantages of Renting 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

What’s a Lease? 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.

Important Items in your lease 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.

Time to Move In 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.

Your Place• 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.

YOUR POSSESSIONS

RENTER’S INSURANCE protects

your personal belongings.

Contact a local insurance agency.

Time to Move Out

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.

Read the Apartment ChecklistThere is a file on Mr Cullen’s website ‘27 - Find an

Apartment” that you will need to open , complete and submit via turnitin