Renting a Home: What You Need to Know

Renting a Home: What You Need to Know

Whether you’re relocating to a new town or city for work, education, or simply to accommodate the needs of your growing family, renting a house is a housing option that can save you money in comparison to buying. House rentals are becoming more popular in a number of states, and there are many advantages to renting. However, before you rent a home, there are a few details that you should know before you sign on the dotted line.

house-for-rent-signThe Rent Can Be Expensive

The monthly rent on home rental is usually quite a bit more expensive than it is for an average apartment, but in many cases, it’s worth the cost. Not only can a house better accommodate a family with growing children, but there are also other benefits.

You can offset the cost by living with housemates or offering to perform maintenance on the property, such as keeping the lawn mowed.

dog-cat-kittenDouble Check Their Pet Policy

If you’re moving with a pet, talk with the landlord about whether or not they have any rules about the size or breed of dog or cat they allow in the home and whether or not you will have to pay extra to have them there.

While renting a home will give your pet more room and even access to a yard in many cases, you will still be held accountable for any damage they might do.

new-flat-movingAsk About Extras

While most apartment complexes come with utilities included, home rentals often do not.

Ask your landlord about Internet access, cable, and even things like trash service so that you can take care of these services if they do not come included in the monthly rental cost.

flatsCheck the Maintenance Policy

Some home rentals require that the renters take care of the property when it comes to landscaping, shoveling snow, etc.

Make sure that you understand your responsibilities in this area. Some rental property owners hire professionals for these services, but the cost may be included in your rent.

empty-flatAsk About Furnishings

Some rental homes come furnished because it is easier for the owner to keep the furniture in the home instead of storing it or selling it, especially if they don’t live in the area.

If the home comes with furniture, this will allow you to save money on hauling larger items to your rental, such as heavy dressers and couches. Don’t forget to ask if potential damage to furniture is included in your security deposit.

woman-keysDiscuss Rent-To-Own Options

If you’re considering settling down in the area, then you should discuss rent-to-own options with your landlord. It can be cheaper than a mortgage, and when you buy from the owner and not a bank, there is less paperwork and no loans to worry about.

You can save a great deal of money in the long run if your rent is also going toward a down payment or even the principal on the total cost of the home.

rent-contractRead the Fine Print

The fine print on a lease for home rental may be vastly different than that of an apartment. Make sure that you understand all of the details of the lease before you sign, and have anyone else who plans to live there and pay rent read it over in full as well.

The more you understand home rental, the better you can enjoy your new living space.

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