Things To Watch Out For In An Apartment Lease

By Francine Fluetsch on April 2, 2014

This article is brought to you by CORT, a subsidiary of Berkshire-Hathaway and the world’s largest furniture rental and relocation services company. To learn more about how we can help college students like you, click here.

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Before you settle on an apartment that you wish to lease, there are a lot of things you need to look into and consider. You definitely don’t want to rush into a situation that will later prove to be a big pain in the butt. Here are some things to keep in mind as you make the move off campus.

Don’t procrastinate:

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This isn’t your calc homework; this is where you are going to live, so make sure you don’t save looking for a place for the last second. Corey Shults, a second year chemistry student at San Diego State University, said “You need to start looking for a place months in advance because all the good places with the best prices get swooped up pretty quickly.”

Getting a head start will help the process of moving off campus feel less overwhelming, and may increase your chances of getting a place you actually want. Of course, some places won’t open up until the school year is almost over, so you’ll have to keep an eye out. There are websites like Trulia that will help you with your search, provide ways to contact the owners, and will email you with similar housing options that have opened up in the area. This is what my roommates and I are currently using to track down some apartments.

What’s included in the rent:

This is a very essential point to consider when you are deciding on an apartment to rent. Some places will include certain utilities, like water, while others don’t, so you want to keep this in the back of your mind since you want to save as much money as possible.

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Some places already have a washer and dryer for you to use (you usually pay the water bill though), while others only supply an outlet. I’m guessing you don’t want to be hauling a washer and dryer to school, so if the place provides it, that is definitely another plus. Most places should say on their website what is included and what is extra, but if not, you can call the landlord or main office and easily find out.

Some places let you park for free, others require a permit and some don’t even have specific parking (meaning sketch parking down an ally) so if you’re coming with a car, this may be another bit of information that may be of interest.

Here are some more things to consider before you move in.

Deposits and fees:

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Depending on the location and quality of the place, the deposit for renting a place can range from >$1,000 to half the rent! That’s a lot to pay up front.

“Be careful about the damage you do to the house,” Shults said. “You end up paying for it later.”

The only amount of “damage” allowed is natural wear and tear. When you give your deposit and sign your agreement, you are agreeing to basically return the place just as it was rented to you, so if this isn’t the case, you won’t be getting that deposit back. This can definitely cause some tension between roommates/housemates, so attempt to discuss how you want to handle the deposits, and what happens if only one person damages the property (ex. they have to pay the other roommates back).

If the place allows pets, there will be an additional deposit for that as well, and if you are bringing more than one pet, it may apply to each of them. The place my roommates and I are looking at is asking for a $950 security deposit, and an additional $500 dollars for pets.

Applications for places usually cost money as well, so you better start saving.

 When’s the move-in:

Ideally, you’d want a place where you wouldn’t have to pay over the summer, since you most likely won’t be there, but that is sadly not the case with most places. Chances are you are going to have to at least pay one to two months rent when you aren’t actually living there. It sucks, but you have to secure the place somehow, right?

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If this is the case, you can always sublet your place to students who are staying over summer for summer school or whatever. If you are doing this, you first need to make sure your apartment/housing contract lets you (yup, they have control over that too) and make sure your roommates are cool with it.

You also want to make sure the person you are subletting your place to is trustworthy and won’t damage anything. It might be best to do it with someone you actually know (if possible). Come up with some questions for them, and sign a written agreement with your terms of agreement. Make sure they know you are only subletting and when you want the place back!

Want some more information about subletting? Check out this article by Sarah Katz on Apartments.com.

 Splitting the lease:

image via blog.sleepingsimple.com

This is where things get complicated. Depending on your room size, if you are sharing, if you get your own bathroom, if your room has the biggest closet, the price is going to vary, so you need to decide what the most important aspects are to you.

You and your roommates will have to decide which room is the best, and give that the highest price. Usually the person with the biggest room or the person who gets their own room will pay the most and so on. You want to put this in a contract with your roommates, so no one is confused why they are paying more and someone else is paying less. Talking money can always be a little awkward, but if you have the communication from the start, it will save you a lot of fights in the long run.

So there you have it–a few things to look out for on your renting adventures. Happy leasing!

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