Apartment Living: Finding the Right Place to Call Home

Renting a home for your family is feasible if you do not have the credit established to buy your own home, or if you are not certain you want to stay within the same city for the long term. Before you search for home properties for rent, however, there are certain questions that you should ask the property owner. 

Are there any pet restrictions?

Most family households have pets, even if it is just a goldfish. However, many property owners prefer that you do not have certain types of pets in their rental home. For instance, the property owner may allow you to only have a small dog, one cat, or only one animal kept in a cage or tank. It is best to know this information up front when you are considering a property for rent, especially if your family already has some type of pet. 

Will there be a lease-term requirement involved?

Lease terms can be required with a lot of single-family rental units. These are agreements that mean you commit to staying in the home for a certain span of time. Most lease terms will run for six months or one year, but the terms can vary according to the property owner. If this is part of the rental contract, you could be required to pay the rest of the months in the lease if you vacate the property sooner than the term. 

How will the security deposit be handled?

The majority of property owners that rent out single-family homes will require a security deposit before you will be allowed to move in. It is best to ask right away how much the security deposit will be, how it will be held, and what happens to the money when you decide to move out. If you do have to sign a lease agreement, this information should be covered in the contract. 

Is there any risk of the property being sold after you move in?

Many people buy homes and rent them until they can find a buyer to cover the costs of the mortgage until the home actually sells. Most property owners will let you know that this is their intention up front when you look at home rentals, but it never hurts to ask. You will want to know how long you will be given to find a new place if the property does eventually sell.