Renting is a great option for many people. Perhaps you are between buying houses and need a temporary place to stay or are waiting to get the funds to qualify for a home loan. Whatever the reason, it is very important that if you choose to rent, you understand how to protect yourself. Here are some things you should always do if you are renting.
1. Take Pictures of the House
Before you move into the house, it is important to take pictures of the house so that you can show what kind of damage was already there and what problems you are responsible for when you move out. For instance, if there is a dent on the wall that was there when you moved in, you need to make sure that the landlord knows that it was there before you moved in. That way, when you move out, you won't be financially responsible for paying for the damage.
When you take the pictures, make sure that they are dated. You can keep the pictures in your own records, and you can send a copy to the landlord as well so they have them from the beginning. Whatever you choose to do with the pictures, it is important that you have them to protect yourself.
2. Always Carry Renter's Insurance
In some cases you will be required by your landlord to carry renter's insurance; however, in other cases the landlord will leave it up to you to decide if you want or need insurance. Even if it isn't required, you should always carry renter's insurance. The landlord will have an insurance policy that will insure the house so that if anything happens, they will get their money back. But the landlord's policy doesn't protect you. All of your belongings in the house will not be covered if you don't have a separate policy. This means if there is a house fire, you will lose everything that you have and will have not way to get restitution for your damages.
In addition, there is a chance that an accident will happen on the property that you will be held responsible for. If you are sued for something that happens on the property, you will want liability insurance. This liability coverage comes with most renter's insurance policies so that you can get financial assistance with the lawsuit and the damages.
By doing these two things, you can protect yourself while renting. Talk to a company such as CJ Real Estate, Inc for more information about renting a house.