Everything you need to know about your first rental lease
Are you about to sign your rental lease? Have no fear! In this article, we talk about everything you need to know before signing your rental lease.
Is this your first time renting or signing an apartment rental lease? Thankfully rental leases are not a 30-year commitment with shared walls, but they are still a legally binding real estate contract that commits you to pay an agreed upon rent for an agreed upon length of time. This post will guide you through the rental process- from search to signature.
With students and workers moving back to Boston and NYC, rental prices have returned to pre-Covid levels. Before signing your rental lease, consider reducing your rent by finding compatible roommates that communicate effectively through university and neighborhood Facebook groups or through roommate matching services like Roomi. When searching for apartments don’t forget to filter for any desired amenities. If you’re bringing any pets, it’s important to verify that they’re included in your lease.
Once you’ve found a potential fit, you should visit the apartment to confirm that you’re comfortable with everything. While tech may not have caught up to Mr. Peanutbutter's VR tours, our agents offer virtual tours and in-person showings so you’re confident when you sign your lease. Because our agents are paid a flat rate, our agents aren’t incentivized to force a deal and persuade you to sign a lease for an ill-matched apartment.
After you’ve found the perfect fit, submit your rental application materials to the landlord or management company. If approved, your landlord or management company will send the rental lease agreement, along with additional terms of the lease.
It’s important to check that the lease contains basic information like the monthly rent, the day the rent is due, how to pay the rent, and the contact information for your landlord or property manager. Take note of anything that you can’t do or may be fined for.
If you’re lucky or savvy, you may have some utilities like water, electricity, or wi-fi covered in your lease. Check to see if you’re required to purchase renter’s insurance. Even if you aren’t required, it’s a good idea to protect against any accidents or a changing climate. If you’re a first-time renter nervous about commitment, consider hiring a professional to read your lease for a good amount of time with you.
After you’ve carefully read your lease it’s time to sign! Now you can start making your apartment feel like home by browsing for inexpensive furniture and realizing the perfect interior decoration.
If you're struggling to find an apartment, schedule a showing, or save money? Use Nobee! Nobee reduces broker fees by 70-100% and covers all application fees, background check fees, and credit check fees. Call now to schedule a showing!