Renting someone else’s property is a unique responsibility and a privilege. Property owners are careful with who they trust in their spaces, so taking care of yourself and the space properly is vital when you’re the chosen renter. As a first-time renter, making a few mistakes is common along the way, and we’re here to help you avoid them.
Not Reading the Agreements Thoroughly
Understandably, receiving the lease agreement and getting the keys to your first place is an exciting time. But don’t let the excitement and moving chaos cloud your judgment on reading the agreements thoroughly. Even if you agree to everything in the terms, including the fine print, you need to know what you’re signing your name to.
The clauses and fine print often get tenants in trouble when things don’t work out, or they need the owner’s assistance. State laws and local regulations also play a role in tenant rights and owner conditions. Take the time to read the agreements in full to protect yourself and your belongings.
Not Researching the Property Management Team or Owner
The lease agreements will only discuss the property itself but take some time to research the property owner (if known) and the management firm. This will clearly indicate how well-maintained the properties are in that area.
Additionally, the property might be a fully furnished luxury rental that was custom-built. Places like these include specific agreements and care requirements, and knowing this information beforehand can help you take care of the property and trust the management team handling your services.
Underestimating Rental Costs
Luxury cabins and rentals come at a cost. These spaces were customized to the owner’s design demands and included features they enjoy. A common first-time renter mistake you should avoid is underestimating the costs involved in the rental and how your finances will need distributing. You will have a monthly payment, and the lease agreement will include the fee breakdown if you’re late.
In addition to rent, you may have to cover utility, trash, and internet expenses if the rental price doesn’t include them. Again, the lease agreement will break down these specifics so you can manage your finances and cover the total cost of the rental. There is a reason why property owners require potential renters to earn three times the rent because additional expenses are almost always the renter’s responsibility.
Not Completing Property Condition Reports
The property condition report is typically given to renters after they receive the keys. Yes, the management team or owner sent a cleaning crew into the space to prepare it for you, but you cannot trust that that is always the case.
The condition report is an opportunity for you to divert responsibility for any wrongdoings upon entry to someone other than yourself. It ensures you have a chance to receive your security despot back at the end of the lease. Complete the report for your future self.
Nevaeh Cabin Rentals is a premier property management firm with quality cabin builders in Georgia. We offer luxury cabin rentals and spaces for first-time renters, buyers, investors, and more. Connect with our team today to learn about all the ways we can serve your property needs.
