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Practical Money Matters Radio Series

November 18, 2013
Don't Rent Without Doing These 4 Things


Four important considerations before signing a lease.

Transcript

Whether you're a college student or a downsizing homeowner, there are many precautions you should take before renting.

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Before you start looking, calculate how much you can afford to spend on rent, security deposits, utilities, renter's insurance and other common expenses.

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Explore the neighborhood. Is it safe? Close to grocery stores and public transportation?

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Thoroughly inspect each potential rental for features like sufficient storage, condition of appliances, water pressure, soundproofing and evidence of mold.

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Read the rental agreement carefully before you sign. Don't hesitate to ask a lawyer or more experienced friend to review it. Also, be aware that many landlords check credit reports of potential tenants.

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Bottom line: Do your homework before you commit to a rental agreement.


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