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Renting an Apartment . April 4, 2011. Terms. Tenant Somebody who rents a house or apartment for a fixed period of time. Landlord A person who owns the property and rents it to tenants. . Terms. Lease

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Presentation Transcript
terms
Terms
  • Tenant
    • Somebody who rents a house or apartment for a fixed period of time.
  • Landlord
    • A person who owns the property and rents it to tenants.
terms1
Terms
  • Lease
    • An agreement that requires a tenant to stay for a particular amount of time and restricts the landlord’s ability to change terms.
  • Eviction
    • The removal of a tenant from

rental properties by the landlord.

a landlord has a legal right to enter your apartment when
A landlord has a legal right to enter your apartment when:
  • Making repairs
  • Showing property with reasonable notice
  • Emergency (Fire, Serious water leak etc.)
  • Abandonment
terms2
Terms
  • Credit Check
    • A process where a person has his or her credit history checked before credit is extended (in the form of a loan).
  • Security Deposit
    • Money given to a landlord to provide some protection for damage to the rented premises or for some other failure of the tenant.
terms3
Terms
  • Utilities
    • Services such as water, natural gas, or electricity
      • Ask about Internet access!
  • Fixed expenses
    • A cost that occurs regularly, same amount of $
  • Variable expenses
    • A cost that occurs regularly, but may

vary in amount of $

a landlord can judge potential renters by
A landlord can judge potential renters by:
  • Poor credit history
  • Insufficient income
  • Bad references
  • Past behavior (i.e. destruction of property)
  • Tenants would exceed valid occupancy policy
a landlord can t judge potential renters by
A landlord CAN’T judge potential renters by:
  • Race
  • Religion
  • Ethnic background or national origin
  • Sex
  • Age
  • Tenant has children (except in senior housing)
  • Mental or physical disability
step 1 where to look
Step 1: Where to look
  • Craigslist
  • Rent.com
  • Apartments.com
  • Classified section in local newspaper
step 2 consider your needs
Step 2: Consider your needs

Is the apartment complex pet-friendly?

Is parking included? Is it on-site? Is there a covered parking lot?

Is there a security system in place?

Are there washers & dryers in the building unit?

Is the apartment centrally located?

Do you have any deal-breakers?

step 3 money matters
Step 3: Money Matters
  • Think about your budget
  • Get a free credit report
  • Think about the down payment & security deposit
step 4 get to know the neighborhood
Step 4: Get to know the neighborhood

Look at the other renters; are they your age, young families, or retired?

Check out the proximity of restaurants, public transportation, entertainment, etc.

Ask the natives

Ask yourself what neighborhood best suits you

step 5 come prepared
Step 5: Come prepared

Checkbook

Camera

Tape measure

Financial documents

Roommates

References

Questions

Things to bring with you:

step 6 know your landlord
Step 6: Know your landlord
  • The first and easiest step you can take to finding out whether a landlord is legit is to check with The Better Business Bureau.
  • Search for the rental company’s name with the BBB, but remember that negative feedback is only recorded when complaints are filed
  • You may also want to check out an online rating community like: ApartmentRatings.com for additional information.
step 7 know your lease
Step 7: Know your lease

Terms of the lease:

When is rent due? Is there a late fee?

How much is the security deposit?

Special policies:

Are pets allowed?

Can things be hung on the wall?

Can the walls be painted?

Read the fine print!

Remember: A lease is a contract!

do you know

Normally, apartments provide basic kitchen appliances like cooking burners, oven, and refrigerator; some come with dishwashers.

  • Mostly all the apartments are equipped with AC/heat.
  • You can rent furnished / unfurnished apartment. If you rented an unfurnished apartment you can buy furniture from yard sales or Goodwill stores.
Do You Know?