Before we get into this, let’s cover some common words and expressions that you should know as a tenant, then we can go over some useful tips to know before you move in.
WORDS AND EXPRESSIONS YOU SHOULD KNOW
Arbitration – A way to settle a dispute without going to court, usually referred by a 3rd party. Nobody likes going to court right? Don’t worry, we’re pretty nice here. It shouldn’t come up.
Dwelling Unit – An apartment, house, mobile home, or other structure (or part of a structure) you rent to live in.
Premises – All areas owned and operated by the landlord. This includes your living space and outdoor areas that only you may use (example: Yard or attached garage) as well as all common areas, parking lots, rental offices, etc.
Rental Agreement – The lease. Legally, a rental agreement can be written or verbal. Realistically, it’s going to be written and that is the best for both parties because verbal agreements are NOT enforceable. All Island Properties rental agreements are written.
Subsidized Housing – Housing where some of your rent is paid by an organization like The Housing Authority, or your rent is less than fair market value because you are low-income.
Security Deposit –Money you deposit to the landlord when you move in to ensure rent will be paid and other responsibilities of the lease are performed. This can be used to cover unpaid rent, damages and cleaning when you move out. Otherwise this is refundable.
BEFORE YOU MOVE IN
Before you enter into an agreement you should make sure of a few things to avoid any misunderstandings or, worse yet, fees and charges! The following are some things keep in mind.
· KNOW THE LEASE! Seriously, read the thing and ask any questions you have, we’re happy to help and would much prefer our tenants be very clear on what they are agreeing to. Sure a legal contract can be intimidating but our rental agreement is certainly no Apple Terms and Conditions that we ALL sign without reading (you know you did it too). It can be explained pretty easily and we would be happy to do it
· MOVE-IN WALKTHROUGH. This is the form that you will use to document any pre-existing damages OUTSIDE OF NORMAL WEAR AND TEAR on the premises before you move in. You cannot be charged for these damages…unless you forget to document it. We really don’t like broken stuff in our units so you will find them to be in pretty good shape. Also once you move in let us know as soon as something breaks. You will also find that we are very eager to fix things as soon as possible.
· FIND OUT WHO PAYS FOR WHAT. Hot water, heat, electricity, parking, snow removal (Ha! How about rain removal!?), and trash disposal all have to be paid for by somebody. You will sign a utilities agreement, I suggest you read it before you sign.
· UTILITY CONTROLS, where are they? Hot water heater, thermostat, fuse box, etc. FYI, do NOT adjust your hot water heater, they are expensive if it breaks you will have to pay for it immediately. Those things are like, $300!
· EXPECT EXPENSE. It doesn’t hurt to have an idea of how much your monthly expenses will be. Something I like to do is call the utility company and find out how much the power was for the last year. Pay attention to power usage during the previous winter, this should give you an idea of how much it will cost to heat your home. Definitely don’t ask us for that info because we don’t have any way of knowing what you would pay. We know how much it costs when its empty…
· CHOOSE YOUR ROOMATES CAREFULLY. Yeah… I really can’t stress this enough Do they respect their own property? If not they probably won’t respect ours or yours and that sort of behavior can be fatal to a security deposit. Also, if your roommate doesn’t pay their share of the rent guess who does? (hint: It isn’t me) (extra hint: It’s you!) If a roommate wants to leave, a Roommate Removal Addendum will need to be completed. PLEASE NOTE: The security deposit is tied to the lease not the tenants. If a roommate leaves the deposit stays, regardless of who paid it. So…choose your roommate carefully!!
· PARKING. Is parking assigned? How many cars can you have on the premises? Can you wash your car in your own driveway? Are there any off-street parking options? Are you allowed to service your car on premises? You may be asking yourself, “Why wouldn’t I be able to wash or service my own car on the premises?” Well, besides the risk of certain hazards, a lot of water use and oil spills cost money and can cause rent to go up so many properties don’t allow that to keep costs down and pass the savings on to you!
· THE AREA. Proximity to shopping, public transportation routes, restaurants, school zones and nightlife. Personally, I won’t live anywhere that isn’t within five miles of a Muchas Gracias Mexican Restaurant. Don’t judge me, I’m weak.
· RENTERS INSURANCE. Definitely get some. Our insurance doesn’t cover your belongings so we require all tenants to have a policy. You should be covered as much as we are.
· FOR THE RECORDS: Where are you going to keep your docs? Get a file box or cabinet and put the lease agreement, Security deposit receipt, move-in walkthrough, landlord’s address and contact info, rent receipts and cancelled checks, and any other documents related to your tenancy. The shoe box full of papers is a bad system. Our online tenant portal will also store important docs for you online.
So that’s it for today, thanks for reading and tune in next time and I’ll try to make an interesting blog about security deposits. I do so love a challenge
Austin J. M. Caylor