Many tenants are unaware of their legal rights or do not know how to protect those rights, so it is no wonder that so many end up running into trouble while renting. The main problem, according to landlords, is that tenants do not pay their rent on time. Not paying rent when due is the number one reason landlords file eviction proceedings. It is also the number one reason tenants wind up in court, facing eviction.
If you are renting an apartment these days, there is no shortage of horror stories out there to make you nervous, reports of renters who have been subjected to huge rent hikes, forced to endure mold, pests, or the failure to solve a series of small problems that cumulatively add up to a major headache. It is no wonder that more than a few people have asked themselves whether it is better to just buy a home. So, before you freak out, here is what you need to know about the biggest mistakes tenants make.
Signing A Contract Without Reading It Thoroughly
Every year, thousands of people move into rental property that is not what they were led to believe it would be. Understandably, they are upset. But when they go to court to try and get their security deposit back, they are told that they should have read the lease more carefully. It is true, of course. But here is the part that is hard to swallow. Courts do not give much weight to a landlord’s deceptive practices as it is so blatant that no one in his or her right mind would sign the lease without reading it carefully.
Signing An Inconvenient Lease
If you are planning to live in an apartment that you did not pick or build, you should read the lease that you will be signing very carefully. Most states do not have laws that protect tenants, so you are at the mercy of your landlord. There are many clauses that can be buried in the lease document, so be sure to read it thoroughly before signing it, or you could be in for a very unpleasant surprise. If you are signing the lease with a roommate, you should make sure that you are both aware of all the clauses and that you all agree to them individually.
Not Checking Out The Area
Wherever you are looking to rent, the safety of your new neighborhood is an important factor. You don’t want to move into a building or neighborhood where there are many burglaries, robberies, or assaults. Start by checking out the city crime statistics online and look for the safest neighborhoods. Then, get a local newspaper and check out the neighborhood section to see if there have been any crimes reported in the past few months. If so, find out what areas to avoid and where the risks are higher.
Attend the Compliance Prime webinar to know more about common tenant mistakes. The webinar will also cover topics like determining and calculating adjusted income, the effective term of verifications, verification requirements, interim recertification, calculating tenant rent, record-keeping procedures, minimum rent, utility reimbursement, and many such topics.
