So, you’ve found an appropriate apartment or house, and you are all set to sign the lease. Not so fast! Once you sign a lease you obligate yourself to make the rental payments for the period of the lease, usually one year. So, let’s say the rent is $1,000 per month. Whenever you sign a lease, you’re obligating yourself to pay the owner $12,000! You won’t have to stay in the house or apartment, if you do not like it. But you will absolutely have to pay the lease. There’s no getting out of it. So, it’s good to be certain this is a property you intend to dwell in for the lease period.
First thing you should do is to inspect the property or home carefully. If you don’t know much about building, then you certainly should get a friend, or the friend of a friend, to look at the property or home for you. You want a record of what doesn’t work, and what shape things are in. It’s easy in this digital age to take pictures. So, why not get a camcorder, or even your cellphone, and take pictures of the whole place? That way the moment the lease is up, and you are prepared to move, it is possible to show the owner that you weren’t the cause of the dent in the side of the stove.
Something else you need to be alert to is the number and thickness of common walls. Common walls separate you from additional tenants in the building. The more common walls you’ve got, the easier it will be to hear the people next door. Common walls are generally thinner and transmit more sound in older buildings, so be especially concious of that.
Ensure that you understand how the amenities of the house or property are used. If it’s a quadruplex, for instance, be sure that you know who has the rights to the garage, if any, and the yard. Also, exactly what is the deal with the laundry? If this is a more recent, more pricey building, then how about the gym and concierge services? Do they come included, or do you have to pay more?
Always be sure to can shoulder the rent! The scariest thing is to discover a great place and then arrive at hating it in any few months since the rent is killing you. A typical percentage is no more than 30% of your take home pay. That’s your dollars after taxes. If the rent is a bit too steep, ask the landlord if they’ll lower it, especially if you take on some of the responsibilities around the property-say, mowing the yard, cleaning up, doing mending, showing the place to prospective tenants, etc.
Lee Cole has been involved in real estate since the 80′s, both in sales and rentals. Check out these informative videos for more information about Gwinnett property management and Duluth homes for rent
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