When renting from a private landlord, tenants should protect themselves by reading the lease agreement, purchasing renter’s insurance, inspecting the property, and ensuring the transaction is in writing. Tenants should also be cautious of security deposits and carefully review the lease for loopholes and additional restrictions. Personal possessions are not covered by the landlord’s insurance, so tenants should obtain their own coverage. Tenants should address any concerns before signing the lease and obtain written documentation of the deposit’s location and interest rate.
A tenant intending to rent from a private landlord must exercise due diligence in protecting his rights and property. Lease agreements should be read completely and renter’s insurance should be purchased. Anyone renting from a private landlord should ask questions, inspect the property for any existing damage, and ensure that the entire transaction is legally and in writing. While many owners follow ethical business practices, others don’t.
Landlords typically ask for a security deposit of between one and two months’ rent. A person renting from a private landlord should not only inspect the property before providing this sum, but should also photograph or film the entire house or apartment. Take photos of any damage and ask the owner to sign a checklist of any damage found. This is concrete evidence that will prevent an unscrupulous landlord from blaming the tenant for damages and withholding all or part of the deposit when the lease expires.
The lease itself should be considered very carefully. Many lease agreements are of the standard type and are designed to protect the landlord rather than the tenant. Check for loopholes that could lead to a sudden eviction, such as selling the property. Make sure the landlord hasn’t included any additional restrictions that seem unreasonable. It’s usually a good idea to have a lawyer review the lease before signing it.
A tenant who rents from a private landlord often doesn’t realize that his or her personal possessions are not covered by the landlord’s insurance. Landlord property will almost always be covered for events such as fire, flood or other natural disasters, but it is up to the tenant to get coverage on their furniture, appliances, electronic devices and personal items. Renter’s insurance is usually inexpensive and can be obtained from nearly all major insurance companies.
Any questions or concerns a tenant might have should be addressed before signing a lease. The tenant should inquire about pets, repair responsibilities and compensation if the property becomes unlivable. Ask the landlord for written documentation indicating where the deposit money will be held and the interest rate it will accrue. Landlords in most states are required by law to hold the deposit money in an escrow account until the lease is terminated. Many landlords ignore these laws, spend the money, and then claim nonexistent property damage as a way to avoid returning deposit money that has been spent elsewhere.
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