Renting can be a great option when looking for housing, but there are a few things you should look out for when considering this option, including what type of landlord you are going to have. There are no background checks for landlords, so you never know how temperamental one can be or what kind of fees they will charge you. When looking for a rental, whether it be an apartment, townhouse or home, you should be aware of these tricks a landlord might pull:
Man's best friend can be a perfect roommate. Playing with your dog or relaxing with your cat can help pass the time if you live by yourself, but sometimes a landlord will charge you an expensive fee to let you have a pet on the premises. Pet deposits are very common among rentals, but be on the lookout for any hidden fees in this department.
Because some rentals do not offer the luxury of being pet friendly, a landlord may use this to their advantage to hike up your rent. Landlords may say that all you have to do is just pay a small fee, but in truth they could increase rent without you even knowing.
Security deposit deductions
Pulling together funds for a security deposit may be difficult if you are living on a tight budget, but landlords will not even give you a set of keys until they have a check in their hands. When you have decided to leave your current residence for a new one, a landlord may take their time giving you this money back and may even find creative ways to take as much money as possible from you.
Deductions from a deposit, such as damaged property or early termination of a lease, are commonplace, but be on the lookout for any obscure ones. Expensive charges such as $100 to replace a nail or an out-of-the-blue pet charge could set your finances back. Before you sign your lease, ask your landlord about some of the standard deductions they have taken in the past. This can help you avoid incurring any of them and save money. To be on the safe side, you can look into renters insurance to help you recoup your losses in case anything happens. This insurance plan will help you out if anything happens to your residence and prevent the deductions from your deposit.
Hiking up rent for number of tenants
A landlord can say that the more tenants the property has, the higher the rent will be. This makes logical sense, as more people can possibly cause more damage to a property. These are valid reasons for an increase, but just saying they are hiking up the rent because of number of people is unfair. Landlords are allowed to limit the number of people as long as they have just cause. Some of these causes can include denying someone with bad credit or a tenant who is not currently employed.