Renting is a great way to acquire space for yourself without the obligations of homeownership. Even as a renter though, you’re not completely free from responsibility.
1. Not reading your lease: The end of the lease could include an automatic renewal clause, leaving you stuck paying early termination fees if you want to move out. Didn’t read the security deposit section? You might have just agreed to nonrefundable fees.
2. Overlooking small costs and fees: When you’re comparing rentals, it’s easy to get caught up in which rent seems cheaper. But remember to look at all of the details, including extra fees for parking or pets, and what — if any — utilities are included.
3. Overcommitting to monthly services: Be careful which service contracts you’re signing. Many companies, such as cable and Internet providers, often offer the best promotional deals for the longest terms.
But when later comes, you could be held responsible for fees to move or cancel the service. Read the fine print and know how much it will cost if you have to move before the terms expire.
4. Not getting your landlord’s approval: Many leases include restrictions on alterations that can be made to a rental space. Even if you don’t paint the living room red or install new light fixtures, even little things could impact how much of your security deposit you get back.
View four more mistakes and the complete article at realtor.com.