6 Mistakes to Avoid When Renting

January 14, 2016 TCS Mgt

6 Mistakes to Avoid When Renting

rental contract

“Rent prices continue to rise as new renters flood the market. If you’re a renter, this brutal arithmetic adds up to less pocket money and fewer rental options.

And while the rental crunch is real, it doesn’t mean you should rush into your next apartment. When you hunt for your next rental, take care to avoid these six mistakes that could cost you time, money, and grief.

1. Not reading the lease

All leases aren’t created equal. If you don’t have a firm understanding of the binding contract you sign, you may face serious problems down the road.

As an example, some leases—particularly with management companies that own lots of properties—may have an arbitration agreement clause, which forces you to settle all lawsuits in binding arbitration rather than court.

You’ll also need to study the renewal terms, subletting rules (in case a roommate moves out), utility agreements, lease terms, property rules, and late fees.

2. Thinking the landlord will fix it…..”

Read the full article at Realtor.com.