Rentals, part two.

Last blog we chatted about renting an apartment where the leasing office is on premises. There are opportunities to rent directly from an owner, be it a condo, co-op, or home.

Most of what I wrote last week still stands, but here are some key tips to keep in mind when dealing with the owner.

1. When renting directly from an owner, you can negotiate the price -maybe.  You have the opportunity to come in lower than asking.  Of course, the owner can say no dice, but you should ask.

2. The landlord sets the security payment.  In Connecticut, a landlord cannot collect more than two months security, and if you are over 62, it is one month.

3. Because the landlord may ask for two months security and one month’s rent, when you sign the lease, you will need three months rent.

4. Walk through the property and document every ding and scratch that exists prior to moving in.  Take photos with your phone.  Make sure all of the appliances, mechanicals,

faucets, showers and toilets work.  Take a peek under the sink while you are running water to make sure nothing leaks. You don’t want to be responsible for something that was wrong before you got there.

5. Read your lease thoroughly to understand what utilities and other services you will be paying for.  If you are renting a house, who is responsible for the lawn and snow removal?  Who pays what utilities?  What, if anything, is included in rent?  Again, the lease is a binding contract that is very hard to break, make sure you read it and it makes sense for you.  You can ask for changes.

6. Okay, here is the bottom line on Craig’s List rentals.  There are a lot of scams going on out there.  If you are not working with a Realtor, go see the property.  Meet the person at the property, make sure they have keys and bring a friend, or more than one. Check with the local town hall to make sure the person renting the property is the owner!!!  I would recommend working with a Realtor and look into homes that are listed on the local Multi Listing Service.

7. And we come back to our  pets.  Not everyone likes them, or they like certain kinds but not others.  You know, they like dogs but not cats or birds.  If in doubt, ask.

8. There will be a credit check.  Landlords do this differently.  If you are working with a Realtor, they will be able to run the check for you and provide it to the landlord.  Some landlords like to run their own.  Landlords may or may not allow the tenant to provide a credit check that they have run.

Of course, if you are considering renting, I can help you.

Any questions?  Did I leave anything out? Let me know.