Real Estate Journal

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Think of/ask the following before you sign on the dotted line

• A thorough inspection of the prospective unit to rent revealed a few problems. Use this or these to negotiate for a lower rent saying you will be spending your own money to make up for these. A number of owners will agree to a lower rent if they sense that you are a responsible tenant who will keep the unit in good shape.
• Ask the owner about rent due dates and how do they deal with late rent payments. Do they have surcharges on overdue payments?
• How much advance payment and deposit is required? Which is refundable and which is not?
• Are children allowed in the units?
• Are overnight guests allowed? What is the length of stay allowed for relatives?
• Are pets allowed? Are there restrictions on the kinds of pets allowed? (Snakes and other reptiles or large animals or animals that make too much noise are normally prohibited).
• What other fees are there aside from rent? Are there homeowners association, security and parking fees? Are there charges for the use of swimming pool or is there a monthly fee for that?
• Is it imperative for you to have a renter’s insurance and how much would a policy cost if you take out one?
• Be sure to have your own copy of the contract. It pays to know and keep your end of the bargain.