Are you tired of living in apartments and would much prefer a single-family home, but can't yet afford the down payment? You may be interested in renting a home rather than buying one. Here are a few things that you want to ask prior to signing a lease for a potential rental home.
What Is The Lease Duration?
You are probably used to renting an apartment where the duration is typically a year. However, a rental home may be different. The current owners may be renting it out temporarily before they plan to return to the property, or they may even require a longer lease since the entire home is a bigger commitment than a single-unit apartment. Always make sure you clearly understand the duration of the lease and if you'll be able to renew it when the lease is over.
What Is The Deposit?
Another thing that can be different with a rental home is the deposit, which you'll want to ask about how much the owners require to rent the home. A big home may require a bigger deposit than you are used to providing, while other homes may only require a single month of rent as a deposit. It all depends on the owner's risk level.
What Utilities Are Included With The Rent?
Don't assume that utilities will be paid for as part of the rental price per month. Single-family homes are completely self-contained when it comes to electrical, gas, and water usage, with there being meters that measure exactly how much you use. The owners may request that you pay the utility bills when they come in, or even have you switch the utilities so that they are in your name during the rental period.
How Will Maintenance And Repairs Work?
The owner of the home should be the one that is responsible for major maintenance and repairs. However, it is a good idea to know what the owner will cover and what they will not cover. For example, a homeowner may cover plumbing-related issues with the main sewer line, but not clogs within the home that you cause. There may also be a homeowner that prefers to handle all repairs to ensure that they are done correctly or to even do the repairs on their own if they are handy enough to do so. The agreement that you reach should be clear and in writing as part of the lease.
Look for home rentals today to learn more.