Eye-Opening Tips for Renters

Whether you’re ready to move into a new apartment or leave the one you’re currently in, it helps to know what you’re getting into.

Here at Grove/Oxford we’ve heard many stories from new clients about the trouble they had while searching for apartments in the past.  These stories are usually about hidden costs, getting stuck in a lease, losing security deposit money, and more.

We want to make sure the same stories never happen to you—renters deserve to find an apartment they love and know what they’re getting into upfront.

To help you when it comes time to either move out or in, use the following tips.

MOVING OUT

Giving notice

It’s important to give your landlord written notice on your intended move-out date. Common courtesy requires you give at least 30 days, but you can always give notice much further in advance.

Securing your deposit

Renters should be aware that the landlord has 15 days to return a security deposit. This, however, does not mean you’ll necessarily get it all back. After a final apartment walkthrough, a landlord could discover major damages that were not present when you moved in. In which case, the money to repair the damage will come from your deposit.

To get all of your deposit back, you’ll definitely want to leave the apartment or home exactly the way it was when you moved in. This includes odors—if you’re a smoker or your cooking has produced a lingering smell in the apartment, you could lose a portion of your deposit as a result.

MOVING IN

Have your paperwork and savings ready

When you’re searching for a new place, you may need to provide your credit report, references, and/or proof of income. Having these things ready will show the landlord or property manager that you’re serious about renting—which could help you stand out from the other applicants.

You’ll also need enough money to cover the advanced payment for the apartment or home. A typical advanced payment will be three month’s rent—first and last month’s rent, plus one-month’s rent as the security deposit—but this amount could jump up to an even high amount if you have a pet. Save up enough money to cover the worst case scenario.

Read the lease carefully

If you don’t work with a real estate agent and are instead working directly with a landlord or property owner, you’ll want to read any lease or contract carefully before signing.

A client once told us that a former landlord specified the exact type of cleaning products that were to be used in the apartment. Little details like this are easy to overlook when you’re eager to sign, but they can get you into trouble later on—pay attention!

You’ll also want to make sure you’re okay with committing to the lease duration. Many people think they can break the one-year lease, but this is never easy to do.

Work with an agent

While we live in the age of Craigslist and RadPad, it is always advisable to use a realtor to help you find your next apartment or home. For the renter it’s a win/win situation—the landlord will pay the realtor fee and the renter will have somebody on their side, protecting them.

Overall, an agent is in a better position to negotiate with the landlord and ask them all the right questions upfront. They’ll look over the contract to lease and ensure that the renter is comfortable with everything in it.

Ready to get moving? Contact me today and I’ll help you find the perfect apartment or house to rent in the Coconut Grove area of Miami.