So you’re thinking of renting a property? But you’re concerned about the myths. Let us debunk the most common renting myths right now!
Renting Myth 1: You can never get a rental property only because your credit score is low
Bad credit may make it more difficult for you to get a rental property, but that doesn’t mean you are disqualified. You can still increase your chances through numerous ways: apply with a roommate, show proof that you can pay rent on time or get a recommendation letter from your previous landlord. Don’t forget to get help from a skilled realtor in your area. The realtor will be able to advise you further and help you get a rental property in your preferred area.
Renting Myth 2: The longer you live in a certain rented unit, the greater the chances of you losing your security deposit
How long do you plan to stay in a rented apartment? So many of you may believe that if you stay more than a year or two, you’ll lose all the security deposit. Wrong. Tenancy duration matters, but if you’ve been able to maintain the unit in a good condition, you should get back most of the security deposit if not all of it.
Clean the apartment yourself, patch holes, take care of minor repairs and repaint walls if you ever gave them a new coat during the tenancy period. Leave your apartment in the same condition that it was in when you moved in, and your landlord will return the security deposit.
Renting Myth 3: You can be evicted for simply any reason
This is one of the most common renting myths. A tenant cannot be evicted for any reason if the lease is signed. Your landlord can’t do this unless they show sufficient proof that you broke the agreement in some way. If your landlord intends to do this, they’ll warn you and give you a written notice. So don’t worry, your landlord cannot throw your stuff out on the road or change the locks.
However, if they have already warned and notified you, then your landlord can legally file a lawsuit against you.
Renting Myth 4: Your landlord is responsible for maintenance works
Not always. Check your lease agreements and your landlord should have mentioned the kinds of repair work they’d be responsible for. Generally, your landlord should take care of general maintenance, plumbing issues, noisy neighbors and pest infestation.
However, if the issue or damage is caused by your negligence, then your landlord may deduct the amount they spend from your security deposit. Read the lease agreement – all relevant details should be mentioned.
Renting Myth 5: You can deduct rent if you spend on repairs yourself
Seems like an easy thing right? But it can put you in a lot of trouble. So ask your landlord to take care of the issue. If it is something too urgent and you put in some money, don’t pay a lower rent. Just file a proper application for reimbursement.
Keep following our blog for more great advice and more renting myths coming soon!