If you’re striking out on your own for the first time, you might not know what to expect from a rental. The signs of a good lease vs. a bad one are not very difficult to tell, and your gut instinct can also help you decide.
Signs of a Good Lease
Your potential landlord should have a thorough, well-written lease agreement ready for you upon request which should include the following:
Rent specifics. How much it is, when it is due, what to do if the date falls on a holiday and what happens if you pay late. www.rentrescue.com/ states that some landlords collect rent online, which is convenient for all parties.
Expectations of personal responsibility. If you clog the toilet or the garbage disposal stops working, who is responsible for this kind of maintenance and their associated costs?
Renter’s insurance. Usually, landlords require it, but even if they don’t it’s a good idea to have. If your apartment is broken into or there is a fire, your landlord is not responsible for it, you are.
Signs of a Bad Lease
You have a good instinct, so use it when you feel like something might be off while touring a place. The signs are usually pretty obvious, like:
The landlord is shady and only accepts cash.
You don’t have a phone, email or any other method of contact for them.
There is no lease at all.
Know the signs of a good lease and a bad one before signing any contracts. You’ll be glad for your foresight later!