3 Ways To Protect Yourself If You Rent A Home

For many people, renting a home is the best option. They might be between purchasing a home, moving somewhere short-term, or are unable to qualify for a home loan at this time. If you are considering renting, you might be wondering what you can do to make sure that you protect yourself. Here are a couple things that every renter should do.

1. Take Detailed Notes and Pictures of The House Before You Move In

Before you move in you need to make sure that the landlord knows what damage and problems were already there so that you don't get blamed for it. When you move out your security deposit will be used to fix any damage that you might have caused. If you don't take detailed notes, you could be on the hook for any of these problems.

Another good thing to do is to take pictures of any problems. This will help to prove that it wasn't you that did it. These pictures should be dated (so that you can prove when you took them) and given to the landlord, along with the rental contract, so they can see what the house looked like prior to your move in.

2. Always Carry Renters Insurance

Some landlords will require that you carry renters insurance, while others will leave that up to you. Even if your landlord doesn't require that you carry insurance, you should always have insurance. The landlord most likely holds a homeowners insurance policy so that if the house burns down, they can get back their money and work to get the house rebuilt. However, their policy will not cover your belongings. For example, if the house fire damages all of your personal property inside the house, you would be completely out of luck with replacing all of those lost costs.

In addition, if something were to happen on the property, like someone slips and falls and sues you, you would need a renters insurance policy and liability coverage to help pay for those legal costs. It is safer for you, which is why you should always have insurance.

3. Do Not Pay All Your Rent In Advance

Lastly, you might be asked to pay all of your rent in advance, or be given the option to pay for the year. You should avoid that if possible. Once you pay the rent you have no leverage against the landlord if something needs to get done. In addition, if the house was damaged and you can't live there, you have no guarantee that you will get back your money.

By doing these three things you can protect yourself if you rent. For more information, check out a real estate agency like ABA Rental Properties Inc.