The Fine Print: 12 Things You Should Know Before Signing a Lease

Homeownership might be a goal for some Americans, but buying a home isn’t necessarily the right move for everyone. Sizable down payments and closing costs make it difficult to save up for. And with rising interest rates and a competitive buying market, big monthly payments only seem to get bigger.

Renters, on the other hand, usually only need to make a security deposit amounting to one month’s rent. In addition, they gain greater flexibility in terms of where they live—and for how long.

But before you take the leap and sign a lease, it’s important to make sure that the home you choose is right for you. To help you decide whether you’ve found the right one, we’ve put together a list of questions to ask before renting a home.

Familiarize yourself with the application process

When applying for a single-family rental, preparation is key. Prospective residents have an easier time with the application process when they come with solid credit scores, proof of income, and clean background checks.

Have your financial information handy, since it’s a standard part of the resident screening process. Outside of this information, make sure that you also have the following documentation ready:

• Most recent pay stubs
• Co-signer application (if with no or low credit)
• Prior landlord information for rental history verification

During this process, remember to get as much information as possible about the lease. Ask your prospective landlord or property manager the following questions:

How do you apply for a lease?

The application process for a lease varies from one single-family rental to another. It’s important to understand what the process looks like before proceeding to the next step so that you can come prepared.

Some landlords will request a credit inquiry while others will only ask for a filled-out application form and security deposit. Before agreeing to a credit score check, always ask if it’s going to be a hard or soft inquiry.

Lastly, ask what kind of lease you will be signing. Not all landlords offer a standard year-long lease—others may offer one on a month-to-month or three-month basis. Negotiate for terms that work best for you.

How much is the monthly rent?

Your monthly rent is perhaps one of the biggest considerations when deciding on a rental home. Ask how much you will have to pay for rent, and how often and when it should be paid.

How soon can you move in?

When it comes to moving houses, logistics is key. You need to know beforehand when you can move in, so you can start thinking about your timelines.

Preferably, your move-in day should be scheduled after the home is deep-cleaned.

Inquire about your responsibilities as a renter

Knowing your basic rights as a tenant is important. These include your right to live in a property that is safe and in a good state. Equally as important, you need to be aware of your responsibilities to uphold as a renter.

What utilities can you expect to be responsible for?

Check your tenancy agreement to see what bills and charges are covered by your monthly rent. Ask your landlord what utilities are included. Confirm if your rent covers the following:

• Electricity
• Gas
• Water
• Sanitation
• Internet Service
• Council Tax
• Cable Subscription

Who should take care of yard work and upkeep?

Some neighborhoods have specific landscaping requirements. Check with your prospective landlord to confirm who will be responsible for yard work and upkeep.

Ask if they will pay for someone to take care of your lawn or if you will have to do it yourself. If the latter is the case, you should make sure that this service fits your budget.

Do you have renter’s insurance?

In case of theft or fire, dealing with the cost of your damaged or lost belongings can be devastating. Consider investing in renter’s insurance. Note that some landlords require tenants to have this type of insurance prior to moving in.

Who takes care of house repairs?

Confirm with your landlord if repairs for roof leaks, plumbing issues, structural concerns, and broken appliances will be handled from their end. If yes, read the lease and check if there are repair request procedures in place that you should be aware of.

Get down to the nitty-gritty of your lease

There’s no such thing as a concern that’s too little to discuss prior to your move-in. If you have any questions about your new home, don’t hesitate to reach out to your landlord or property manager about these concerns. Here are some examples to keep in mind:

Are the locks changed often?

This may not be the first thing that comes to mind when you think of questions you should ask before renting a house. However, it is crucial to know how secure your doors are for your own safety.

You never know who has access to your door keys. So, asking for the locks to be changed prior to moving in should be a priority. If possible, look for a home rental with state-of-art keyless entry systems, so you can do away with keys entirely.

Will the home be furnished before you move in?

Not all rental homes are built the same—some only come with the bare minimum. If you want a home that comes with more than just a fridge and a stove, you need to confirm what furnishings are included.

Can pets stay indoors?

Our furry friends deserve a home where they can live their best lives. While there are some pet-friendly homes for rent available on the market, you need to confirm with your landlord early on if pets are allowed in your prospective home. Depending on where you’re looking to rent, landlords may have restrictions, so it’s best to clarify these before committing to a home.

Is there a release clause in your lease?

Sometimes life happens—and you may need to vacate your apartment before your contract end date. In cases like this, you could be on the hook for rent unless the landlord finds a new tenant.

Check with your landlord if they charge any fees associated with an early lease termination. Usually, tenants are required to pay two to three months of rent for terminating their lease early.

Always ask informed questions

Taking the time to go over the details of your lease and the state of the property is a crucial step in the rental application process. By asking informed questions before renting a home, you gain valuable insights into the property. It also gives you the chance to get to know your prospective landlord or property manager, giving you an idea of how they would treat you once you become their tenant. Once all the details are ironed out, all that’s left for you to do is come home.

Experience all of the benefits and advantages of homeownership—in a rental.

Our residents deserve to feel truly at home. Beyond fully-renovated homes, our locations are also second to none. We make it so easy, all you have to do is come home.

Talk to our team—we’d love to know how we can help.

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