renting an apartment – Susan's Real Estate Guidebook

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,

Major scratch in floor — Major floor scratch

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.

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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.

Are you daunted by the prospect of renting an apartment? Not to worry, read on to get some tips that will help you through the process. I am addressing apartment buildings with leasing offices in this blog, not privately rented condos or homes. That is the subject of another blog.

I have worked with a number of folks that have rented apartments throughout Fairfield County. Here are some things you should know at the onset. (Some of the fees may vary depending on your location.)

1. Make an appointment with the leasing office. You don’t always need one, but if hoards of folks show up at the same time, the appointment should give you priority.

2. Always get a floor plan of the apartments of interest and ask the leasing professional to write on the floor plan – rent, security and all applicable fees – application fees, amenity fees, trash & water, and parking. Parking may vary with the number of cars you have and whether your parking is reserved, indoor or outdoor.

3. Security fees vary with your credit rating. There are numerouse scenarios. Some apartment buildings will charge up to one month’s rent if your credit is shaky. Some ask even more. If you are moving here from a foreign country, and you don’t have a US credit history, or even a social security number, ask what your security will be.

4. Ask if there is a move-in/move-out fee. Plus, ask if you need to reserve an elevator for move-in.

5. Pets. Not everyone loves pets. Most apartments that allow pets charge a one-time, non-refundable fee ($400-500). Plus there are monthly fees ($40-50 per month/per pet).

Buildings may restrict: the types of pets allowed, breeds, weight, and the number of pets. Most buildings I have come across allow two pets, if they are the right breeds and their combined weight doesn’t exceed 100 pounds. If you claim to have a service animal, make sure you have all the paperwork, otherwise forget about getting the fees waived.

6. Hours of operation. Make sure you know when you can use the common areas, gym, grills. Some people like to grill late in the evening, and that may not always be an option.

7. Landlords require liability insurance. This will protect your assets in case of theft, fire, or flood. Plus it will protect you in case someone gets hurt while in your apartment. The cost varies by amount and deductible. I hate to sound like a commercial, but talk to your auto insurer and you can probably bundle the insurance.

8. What utilities, if any are included in the rent??

9. Always ask for a special or if they have preferred employers. Many times you can get a month free or application fees waived if the stars align in your favor.

Lastly, a lease is a legal document. If you think you might want to move out before the end of the lease, check the terms. You may have to pay 1-2 months rent and you may need to give 60 days notice on top of that. Read your lease carefully and don’t be afraid to ask questions.

Of course, the first thing you can do is call me, and I will help you with your apartment search and the whole process of looking and reviewing the lease. Also, let me know if I left anything off the list. What else should renters be aware of?? Feel free to add elements in the comment section

Any questions about this blog or anything about real estate, drop me a line.

Tag: renting an apartment

Rentals, part two.

Everything you wanted to know about..renting an apartment.