Think Before You Rent

Dear Ali, 

This is an exciting time to be moving, but choosing to rent or buy your next home is a major decision! If you would like to discuss the benefits of renting vs. buying, I'm here to help you determine the best solution for you and your family. 

If renting is the best fit for your current financial needs, here are four things to consider before signing your next lease:

1. Research the area.

Do your homework on your neighborhood. Obvious considerations include the location of the nearest grocery store and proximity to parking and public transportation. But you may also want to investigate factors like crime or the area's rate of growth.

2. Calculate upfront costs.

While many rental agreements will require a security deposit (which will typically be returned to you at the end of the rental term), some will ask for a non-refundable fee. This fee might go towards preparing the unit for move-in or paying a broker. 

3. Check what’s included in the lease.

Make sure you know exactly what’s included in the rental fee before signing a lease, including potential parking, upkeep, or utility fees. 

4. Discuss future maintenance needs.

Make sure you clarify who is responsible for necessary repairs in your future home when something needs to be fixed.

If you need help determining the best next steps for your rental journey, I am here to assist you. 

Best regards, 

Anna Smith