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Practical Money Matters Radio Series

November 18, 2013
Don't Rent Without Doing These 4 Things

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Four important considerations before signing a lease.


Whether you're a college student or a downsizing homeowner, there are many precautions you should take before renting.


Before you start looking, calculate how much you can afford to spend on rent, security deposits, utilities, renter's insurance and other common expenses.


Explore the neighborhood. Is it safe? Close to grocery stores and public transportation?


Thoroughly inspect each potential rental for features like sufficient storage, condition of appliances, water pressure, soundproofing and evidence of mold.


Read the rental agreement carefully before you sign. Don't hesitate to ask a lawyer or more experienced friend to review it. Also, be aware that many landlords check credit reports of potential tenants.


Bottom line: Do your homework before you commit to a rental agreement.

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