5 Questions to Ask Before Signing a Rental Contract

So you’ve found that perfect apartment, and now the last step is to sign the rental contract. Before signing the rental contract, there are 5 questions that you must ask the landlord. Make sure that you are comfortable with the landlord’s responses before signing.

1 – What Are the Terms of the Security Deposit?

The contract should state the amount of the required security deposit. The rental contract should also explain the applications of the security deposit and the terms by which it is returned to you upon moving out. Usually, a security deposit is used to cover more than normal wear and tear upon move-out. Be sure to take notice if the rental contract specifies any other applications. It may also be worthwhile to investigate your state’s security deposit laws. For example, in some places the landlord cannot collect more than a month’s rent. Your rental contract should be in compliance with these laws.

2 – Rent: Due Date, Payment Method, Late Fees?

Make sure that your rental contract clearly states when the rent is due. It should also explain what happens if the due date falls on a Sunday or holiday. It is important for your rental contract to indicate what methods you can use to pay your rent (cash, check or money order), and where your rent should be sent. The time may also come when you forget to pay your rent. It is important to have any late fees established in the rental contract upfront. Otherwise, this can be a sore spot for both you and the landlord.

3 – What Is the Policy on Pets?

Maybe you don’t have a pet now, but you might want one later. Your rental contract should specify if pets are allowed, what kinds, and any other restrictions. For example, some apartments allow cats but not dogs, or they allow dogs but only under a certain size.

4 – What Alterations Can You Make in the Apartment?

Make sure that your rental contract specifies if you are allowed to make any improvements. For example, most apartments are painted white, but you might want to change the paint color. It is important to find out if you are allowed to paint, and how this will affect your security deposit upon move-out.

5 – Consequences of Early Termination of Rental Contract?

Some landlords will allow you to terminate your contract early for no penalty if you give them 60 days notice, or if they find a renter to replace you prior to your moving out. However, other times landlords will charge a penalty no matter what the reason is for your early termination. This should be clearly outlined in your rental contract.

Your landlord should be able to answer these questions easily, but make sure they are also outlined in the rental contract. Once you are satisfied with the responses, give that contract your John Hancock and get ready to move in!