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Things you should know before you sign a rental contract

By
Services for Real Estate Pros with Citywide Apartment Locators

Be sure you know what you are signing.  Don't be shy about asking questions or having things explained. 

 Keep copies of everything.  This is very important.  If you are leasing an apartment they probably won't offer to give you a copy of the lease application you fill out.  Yet on the back of a standard TAA (Texas Apartment Association) lease application is the contemplated lease agreement.  This is the terms that you agree upon.  This is what will be on your lease.  This is very important.  If they say they will give you new carpet make them put it in writing on the back of the application and give you a copy.  This goes for free rent, pet deposits, everything. 

Your lease agreement specifically states that nothing verbal is binding so make sure you get everything in writing.   

I usually suggest you walk your actual apartment prior to signing your lease.  Once you sign the lease you are stuck for the term of the lease.  What if it looks nothing like the model they showed you. 

Once you sign the lease and get your keys you will be given a move-in condition form.  It is very important that you fill this out in detail.  The condition of your apartment will be expected to be in excellent condition when you move out if you fail to fill out this form and return it to the office.  Once again, have the person you give it to initial it and give you a copy with their initials on it.  For example if there was a red stain on the carpet when you moved in and you do not have a copy of this form where you noted the stain you could be charged for brand new carpet when you move out.  I have seen many, many customers that have been charged hundreds of dollars for carpet that they probably shouldn't have been charge for.

 When you lease is up and you want to move out remember that you must give the required notice in writing.   Once again, have the office person initial it and give you a copy with their initials on it.  This is really the only proof you have that you have given the proper written notice.  I have seen many customers that gave notice and for some reason the office staff said they never got it.  Make sure you know if your lease states 30 or 60 day notice.

One more very important thing.  30 days after you vacate the apartment the management must give you a "Move Out Statement" with either a deposit refund or a statement of what is owed.  This is really your only proof that you left the apartment in good condition and you do not owe them money.  I have met with many, many customers that apply for an apartment only to find out that a previous apartment put a landlord debt on their credit report.  It is nearly impossible to get an apartment if you owe another community money.  This "Move Out Statement" is the only proof that you didn't owe money.  Make sure you keep it for years.  I have seen management companies put balances owed years after vacating an apartment.

This is one reason to use a Realtor to assist you with finding an apartment.  Not only will we find the best deals for you we will assist you with the paperwork.    We will be here for you not matter how many questions you have!  Call me anytime at 512-835-RENT (835-7368) or my cell phone 512-934-3772.  My e-mail address is susanalbertson@yahoo.com.

 

 

Rick Sergison
EXP Realty of Canada Inc., Brokerage - Pickering, ON
Durham Region Real Estate Blog

I just stopped by to welcome you to Active Rain. I hope that you find it a great benefit to your business and that you see the value that I have also found here. I am from Charlottesville Virginia and using Active Rain has really increased my business!

My main blog on Active Rain is here: Charlottesville Real Estate Blog, not the link at the bottom of this post.

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enjoy!

Mar 30, 2008 12:43 PM
P C
Rental Solutions Oahu - Honolulu, HI

Very thorough and informative blog on rental paperwork

Dec 04, 2010 01:27 PM