Home or Apartment Tips for the RenterPosted: July 17, 2012
In the past few years with the Real Estate Market downward spiral, many people are either forced by foreclosure or choose to rent. The rules have changed and purchasing a home is not as easy as it was before.
There are many homes for sale, and at cheap prices. Foreclosures have been unfortunately abundant in the past few years, and many now may need upgrading and repairs.Employment is getting easier, but if you had a foreclosure, your credit score is down. Without a great credit score and a couple years of stable employment, you chances of purchasing a home and getting a loan is not that great.
Renting an apartment or home is on the rise and actually more affordable at this time then making an investment that well, could take a lot longer to fulfill then before. Instead of coming up with thousands of dollars for closing, inspections, an appraisal and more, you only have to come up with a few for your firsts months rent, last months rent and a security deposit. Yes, your credit may be checked depending on the landlord and a call to your job.Of coarse the owner of the rental is looking for dependable renters that will fulfill a contract and be more flexible then a bank.
If you are looking to rent, check over your lease and the property you are considering carefully. Get everything in writing, from repairs that may need to be done, to how long your lease is for.
Check the lease to be sure how much it may cost you for pets. Do they allow a relative or friend to visit for more then two weeks. Yes, if you have someone stay with you, some contracts have stipulations on how long they can stay before being considered a renter themselves on your property and could cost your more money. For pets, a separate deposit is usually required and more a month for little fido or kitty.
There are many benefits to renting when it comes to repairs. The air conditioner goes out, need a new fridge or the roof needs repair. It is your landlords responsibility and while you may be inconvenienced for a short time, you are not putting out the money for these repairs.
In today’s economy, renting is a popular option but as convenient as it is you should know your rights and make sure your personal belongings are covered.Click Here for more information on the importance of Rental Insurance.
Call us today to get your questions answered. 863-453-3903
or visit our website BudgetBiRite.com fill out the form and we will have an agent contact you within 24 hours.
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Ask us about deductibles as low as $100.00.
Ashley Bishop Owner/Agent
Budget Bi Rite Insurance, Inc
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