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Back to Finance

3 Things To Find Out Before Signing An Apartment Rental Lease


by Christine OKelly

Searching for an apartment rental can be fun. It's exciting to move into a new home when it's clear of clutter, freshly cleaned, and newly painted. Before choosing a new apartment rental, ask the following simple questions of your landlord or property management company.

Who Pays For What Utilities And What Are The Rent Payment Procedures

Different rental apartments cover different types of utilities in the rent and you will want to know which ones to budget for when looking for an apartment. Expect to pay for your own phone, Internet, and cable bills. It's possible to find an apartment rental that includes electricity, gas, or both in your rent, but it isn't common. Plan to pay at least one, and most likely both of those services, in order to keep your home comfortable. Water service and trash pickup are commonly included in the cost of your rent.

At the same time you're asking about utilities, ask about when rent is due and if there is a grace period. Most apartment rentals require rent to be paid on the first of every month, but some places offer a five-day grace period in case you cannot drop off the payment exactly on the first. Ask about a direct debit option since some companies use that instead of paper checks. A direct debit means the company takes out the rental fee automatically and you'll never have to worry about a late fee.

Maintenance Issues And The Apartment Rental Company

Even the most cared for apartments will sometimes need routine maintenance. It's a good idea to ask how maintenance issues and requests are handled. How long does it take for major or minor problems to be fixed? Does the company have a 24-hour emergency phone number in case something goes wrong after regular business hours?

Rental insurance is a must-have item for anyone in a rental apartment. The property management company or landlord will cover any damage done to the property, but paying for damage to your personal items is your responsibility. Rental insurance will cover nearly anything you own and is inexpensive for a yearlong policy. It will be well worth the small cost if it's ever needed.

Who Are The Tenants And How Long Do They Stay

Ask the apartment rental company who your neighbors will be. It's not uncommon to hear a little noise from neighbors in an apartment, but you'll want to know if your schedules will be disruptive to each other. If you are a family with small children who go to bed early, it may not be a great idea to live next to college students who keep different hours. Your potential neighbors shouldn't prohibit you from renting an apartment you love, but it's a good idea to keep the thought in mind.

It's not uncommon for people who live in apartments to move frequently. If the rental apartment you are looking at has many long-term residents, take that as a good sign that the company takes care of their residents.

It won't be difficult to find a rental apartment if you follow these guidelines. Using this guide will help you easily find an apartment you are proud to call home.

About the Author
Christine O\'Kelly is an author for Beal Properties, LLC (http://www.bealproperties.net), a property management company. Beal Properties specializes in apartment rental units in the Chicago area (http://www.bealproperties.net).
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