Sample Chapter 1

What You Need to Know and Have Before Renting

Terms in this section: Agent

Amenities
Efficiency apartment
First and last month
Lease agreement Management Company
1b or 2b, 1b with a living room Rent
Renter’s Insurance
Sublet
Studio apartment
Security deposit

You believe you’re ready to go into the world as an independent adult and rent a room, or 1- or 2-bedroom apartment. Here are:

ONE MORE THING BEFORE YOU LEAVE HOME

some essentials to know before stepping into the arena of renting. Let’s start with the questions you must be able to answerbefore you execute or sign the lease:

Security Deposit and Rent

  • Do you have to pay the 1st and last month’s rent and security, or will you be required to pay the real estate agent’s fee in addition to 1st and security? (The answer can vary depending on the state where you live)

  • Does the landlord, management company, or leasing agency require you to have a particular credit score to be eligible to rent?

  • How many paystubs or bank statements will you need to submit with your application?

  • What is included in the rent? (Ex: cable, or utilities: light water, electricity, or services: trash removal)

  • What day is the rent due and how much is the late fee?

  • How many days are you allowed to be late with your payment (or length of grace period) before the collections/evictions process is started?

  • Are they offering a month to month, three, six month or annual lease?

  • What happens if you breach or break your lease?