Monday, October 20, 2014

What Students Need To Look Out For Before Signing A Lease

Renting an apartment next to your college is always a good idea. It gives you quick access to school and the kind of environment you need to study. But hold on, before signing that lease. This is a legal document that may contain some potential problems or conflicts which you are absolutely not aware of. Before rushing out to pay for that rental apartment, consider the following.

Negotiate the rent

Sometimes landlords will set an amount that is simply the asking price. Tenants are allowed to negotiate and quote a price that is much lower than the asking price. You can look for potential problems in the apartment and then use them as a reason to negotiate. In some areas, the amount you'll pay will depend on your negotiation skills.

Speak to current tenants

The best way to get unbiased information about the property you want to rent is to speak to the current tenants. Ask them how it is to live in the apartments and whether the landlord has any issues like slow response to repairs.

Understand the terms of the contract

Landlords usually offer different tenancy agreements. In some cases, your parents will be asked to sign on the lease as guarantors and accept the financial or legal responsibility if something goes wrong. Most student housing contracts can last up to 12 months but there are others which are only valid for a period of one semester. Find out if you are allowed to give a notice in order to end the tenancy. Get all these details right so that you're not caught off guard.

How much deposit is returned when you move out?

This is another area you probably don't want to leave hanging. Some landlords may refuse to give you back the entire amount of deposit if there's wear and tear on the property when you're moving out. Find out how the landlord handles issues of wear and tear and how this will affect your deposit.

Late rent payment

In the event that you get late on paying rent, you may have to pay late fees depending on what's stipulated on your contract. There are landlords who offer a flat late fee whereas others charge by the day or week. In some cases, failure to pay the late fees could lead to an eviction. Find out what is written in the contract regarding late fees and don't just take their word for it.

How to request for maintenance

There may come a time when your apartment needs some repairs or maintenance. You need to know how they are carried out before signing the contract. In some cases, you'll have to make the request in writing and send it to the landlord. Find out how long these requests take to be addressed from the current tenants.

Most importantly, don't sign the contract or lease before you get a chance to inspect the apartment you will be renting. Also make sure you get a copy of the lease immediately after signing it.

College Park Apartments is a student based Community.Our complex is offered to Darton State College students.Each building has a parking lot for convenient parking for our residents.College Park Apartments offers a 10 month lease and a 12 month lease.

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