10 questions to ask before signing a lease

Before you go, we thought you'd like these...


So you've been searching for a place to live. You've looked at a bunch of different homes and apartments, driven all over town, and have finally decided on the one you want. It's perfect. But before you whip out the pen and commit to something, ask the following 10 questions. They could prevent you from making a very costly — and time-consuming — mistake.

1. Which Utilities Are My Responsibility?

Depending on where you live (and how generous the landlord is), utility responsibility may vary. If you're living in a large apartment complex, you may find that a lot of utilities are covered by your rent. In other cases, it may only be water and sewage, or in the worst case scenario...nothing at all. So make sure you know exactly which utilities are going to be your responsibility, and see if you can get a history of the bills at that address. Some homes are more energy efficient than others, and some homes have additional costs you may not consider (such as fees for constructing new pipelines). When you get the complete picture, you may discover that the utility bills put a unit beyond your reach.

2. How and When Do I Pay My Rent?

You already know what the rent costs, but you also need to know how and when to pay it. These days, many larger apartment leasing companies will take payments online, or through an automated debit system. Private landlords will most likely take a check or banker's draft, and may want you to mail it, or hand it over in person. There may also be fees for paying online or by check, so ask about that. And of course, ask about late fees and grace periods. You may get up to five days to pay your rent without incurring a penalty.

3. Do I Have to Have Renters Insurance?

Any kind of renters insurance is good to have, even if it covers the bare minimum. But times are tough, and you may not have the money to afford it right now. Your landlord or leasing agency may not care. Or, they may have a very strict renters insurance policy, which could once again put you over your monthly budget and make the apartment off limits. If you are required to have it, shop around and get multiple quotes. Use these quotes as bargaining chips with each insurance company to get the best possible rate that covers more of your possessions.

4. What Is Your Guest Policy?

In this day and age, the vast majority of landlords are not going to care if you have guests for long visits. But, it never hurts to check the rules of the apartment complex or landlord. Even then, it's a very tricky rule to enforce, so it's doubtful anything will happen. The problems usually come with guests staying for an extended period of time. If your best friend suddenly becomes homeless and asks to stay in your spare room for a few months, that could have ramifications. And if you decide to move your partner in to live there permanently, you will have to consult the landlord. It's possible a background check will be needed.

5. Can I Make Improvements?

When you move into a new place, you want it to feel like home. That often means personalizing it with paint, wallpaper, new curtains, maybe even new carpet or tile. This should all be openly discussed with the landlord before you ever sign the lease, and put in writing. It's quite possible that any improvements you want to make (even a simple coat of paint), will have to be approved first. Even if you think you're making the place even better (adding a wooden floor for instance), the landlord has every right to take your security deposit when you move out.

RELATED: 10 best US cities to buy a home instead of rent:

11 PHOTOS
10 best big cities in the US to buy a home instead of rent
See Gallery
10 best big cities in the US to buy a home instead of rent

Tampa, Florida

(Photo via Getty)

Charlotte, North Carolina

(Photo via Shutterstock)

Atlanta, Georgia

(Photo via Getty)

Miami, Florida

(Photo via Getty)

Baltimore, Maryland

(Photo via Getty)

Austin, Texas

(Photo via Getty)

St. Louis, Missouri

(Photo via Getty)

Dallas, Texas

(Photo via Getty)

Philadelphia, Pennsylvania

(Photo via Shutterstock)

Detroit, Michigan

(Photo via Getty)

of
SEE ALL
BACK TO SLIDE
SHOW CAPTION +
HIDE CAPTION

6. How Long Is the Lease?

It may seem like an obvious question, but not all leases are created equal. Some landlords may be renting their home out for the summer, and want a tenant for six months or less. Some apartment complexes offer discounts for longer leases. Some leases are month-to-month. You need to know this up front, and also, what kind of fees you will pay to break that lease. It's possible you'll be asked to pay two months' rent to get out of it, and may also lose your security deposit. Other places may be much more relaxed, especially if you find someone to take over the lease.

7. How Much Is the Security Deposit and Do I Get All of It Back?

The typical amount for a security deposit is one month's rent, but it can vary from place to place. Some may only want a nominal fee — say $300. Now, by law, any kind of security deposit is refundable, that's why it's called a security deposit; you put the money down as insurance for the landlord, you get it back if all is well. However, different landlords have different thresholds for wear and tear, and it's possible you won't get the whole amount back, especially if you have pets.

8. How Will the Apartment Be Prepared and How Should I Leave It?

These are two different questions, but both relate to the cleanliness and appearance of the apartment. Before you move in, you need to know if the entire place will be cleaned and repaired. You may well be viewing the place before any of this has happened, and may be in for a shock if you move in and the carpets are stained and the lighting is broken. So, get in writing how the home should be delivered and returned. Also, when you move out, you may have to pay for some of those very services that make the home ready for the next tenants. So, ask if you have to have the carpets shampooed, or the place professionally cleaned. If you do, and don't do it, this fee can come out of your security deposit.

9. What's the Pet Policy?

Landlords don't like pets, often for good reason. They sometimes leave a smell, they can tear things, they're noisy at times, and they can leave nasty surprises on the carpet. For this reason, most places will have some kind of pet policy in place. It may be as simple as "Yes, pets are fine, but don't let your dog bark all the time." Other places could impose a nonrefundable fee for the term of the lease to cover additional cleaning, or impose a monthly fee, known as pet rent. Even if you don't have a pet now, ask about it. You don't want to have to move out later because you want to get a dog or a cat.

RELATED: The most beautiful tiny homes for sale:

10 PHOTOS
Beautiful tiny homes for sale
See Gallery
Beautiful tiny homes for sale
This delightful cottage hugs the Massachusetts coastline. It includes new wood floors, stone countertops, and a roof deck perfect for soaking up the sun.

Address: 423 Commercial St., Provincetown, MA

Price: $1.2 million

Photo: Estately

This rustic artist's retreat sits on nine acres of California hills where the previous owners cultivated Japanese Maple trees. It includes a workshop and two offices.

Address: 3885 Cavedale Rd., Glen Ellen, CA

Price: $1.2 million

Photo: Estately

Who says a tiny house has to be on land? This houseboat situated in northern Idaho spares no amenities. It has a full kitchen and two and half baths.

Address: 34179 N Scenic Bay, Bayview, ID

Price: $80,000

Photo: Estately

A cottage made with care, this tiny home features windows made from mahogany wood and recycled furnishings. It's perched on a grassy knoll in Vermont.

Address: 563 Ridge Rd., Kirby, VT

Price: $120,000

Photo: Estately

A new take on the tiny house, this Victorian-style home in California is designated as historic, but has been remodeled for a more contemporary look.

Address: 142 19th St., Pacific Grove, CA

Price: $850,000

Photo: Estately

Known as the "round house" on the St. Joe River, this circular tiny house stretches just 450 square feet. The covered patio is perfect for shaded picnics.

Address: 52 Lagoon Ln., St. Maries, ID

Price: $195,000

Photo: Estately

Buyers will get in touch with their inner Henry David Thoreau in this two-bedroom cabin in the California wilderness. A wood-burning stove is all the heat they'll need.

Address: 9250 Bryant Creek Rd., Twin Bridges, CA

Price: $120,000

Photo: Estately

Described as a "fly fisherman's dream," this river-front cabin in Utah is close enough to the water that you can cast a line from the front porch.

Address: 13581 E 1950 N, Huntsville UT

Price: $249,000

Photo: Estately

A tiny home fit for any storybook-lover, this peaceful cabin manages to squeeze a stone fireplace, a hot tub, and a master bedroom into 577 square feet.

Address: 160 Timerwinds, Townsend, TN

Price: $115,000

Photo: Estately

of
SEE ALL
BACK TO SLIDE
SHOW CAPTION +
HIDE CAPTION

10. How Do You Deal With Maintenance and Emergencies?

Again, this will vary depending on the kind of place you're looking at. Big apartment complexes usually have a maintenance staff on site, and a simple call to the front desk can be all it takes to get an issue resolved. If you're renting a home from a private landlord, you'll want to know up front what kind of response you will get, and how soon. If it's just a guy renting his house out, and your fence blows down, will it take weeks for the repair to happen? Can you call someone to make repairs, and remove the cost of service from your rent? Do all repairs have to go through the landlord, and are there preferred providers? All this should be asked up front.

Have you ever been burned by the hidden terms of a lease?

More From Wise Bread:
5 Reasons You Definitely Need Renters' Insurance
The Simple Way to Decide How Much Rent You Can Really Afford
8 Moves to Make If You Need to Break Your Lease

Read Full Story

Find a Home

Buy
Rent
Value
Powered by Zillow

People are Reading