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How To Be A Smart Renter

Guest February 4, 2013 Renter Resources No Comments

Man with apartment for rent sign in background uid 1281118

If you are a renter, you want to be a smart one. Just because the place you live is listed in someone else’s name, it does not mean that you do not have rights. Below are five ways to stay on top of your situation!

Renter’s Insurance
More than half the people who rent do not have insurance. The biggest reason for this is the misperception of the cost to insure their goods. The fact is that renter’s insurance is very affordable; with averages running approximately $16 a month. If having insurance protects your goods against vandalism, theft and fire, it is worth it. If a fire were to destroy your apartment and everything in it, it would all be completely replaced at no cost to the insured, but only if you apply for it!

Seasonal Renting
Always try to take advantage of the seasonal highs and lows for renting. Some of the seasons will depend on your location, but they normally follow demand. For example, in states up north the high season would be in the summer when college students are looking for apartments. Low season is normally during the winter months. When it comes to renting apartments, the inventory can dictate the price. Try to rent during the low season to get the best benefit. You will have more apartments to choose from, and you can also negotiate prices.

The Smart Negotiator
In most cases, you will be paying rent for a minimum of one year, so you want to get the most rock bottom price that you can get. Before you attempt to negotiate with your landlord, have all your information ready, such as your credit score, credit report and any information they may need about you. Compare rates for apartments in your general area, including specials they might be running. Find out how many apartments are available to help with negotiations. Tell your landlord why you are a good tenant and why they might want to have you around. Be prepared to negotiate for more than just the rent. If the landlord cannot budge on the rent, see if they can help you with free storage, new carpet, premium parking or your moving-in and out dates.

When money is short and you are strapped for cash, sit down and seriously talk to your landlord. There is not a guarantee the landlord will help out, but if you do not ask, you will not know. If you have been through some type of hardship, the landlord might delay your due date or come up with a payment plan that better fits your needs.

Terms/Termination Fees
It is always wise to know the exact terms of your lease. It might be two years, one year or six months. Never sign a contract until you find the lease terms that fit your needs. Usually, the longer you rent, the better deal you get. If something happens in your life and you have to break the lease, find out if it will cost you to do so. Ask before you sign what the lease-break fee is and if it is negotiable.

Renting is a convenient circumstance for many people today, but you want to be sure you understand your rights and know what the terms and conditions of your least consist of before getting into one.

Justine Rivers writes about everything related to real estate. However, she specializes in marketing and sales, so her most recent work highlights the Top 10 Best Online Colleges for Bachelor’s in Marketing Degree.

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