There are often many rules and regulations to consider when you are a tenant, and there may be some that you don’t even realise can affect you. “It’s important to know what your rights are, as well as your responsibilities,” says Natalie Muller, a regional rentals manager for Jawitz Properties.
Below are five considerations that may not be commonly known:
- Struggling to rent because of your credit record?
Tenants who default and have judgments against them often battle to redeem their good name. “If a tenant has a debt counsellor, that will definitely help. There is also the option to co-sign a new lease with someone else who is in good-standing, and it can be possible to negotiate with landlords, or managing agents to have insurance policies added on to your rental to show your good faith,” Muller said.
“It is also advised to go for a rental property that is positioned below what you can actually afford to build in a safety cushion.”
- Your deposit should earn interest
Your deposit is should be held where it can earn interest.
“Tenants are entitled to an interest rate in line with a standard savings account on their deposits, There are clever alternatives to a huge deposit as well, such as special loan options and deposit guarantee products.”
- What happens if there is a burglary the day you move in?
It is vital that your possessions are insured and, generally speaking, it will be your responsibility to recover any losses if a burglary happens as soon as you move in, or at any time throughout the lease period.
“You have to be aware of keeping valuables out of sight. If you feel the landlord is liable, however, make the claim through your insurance and they will then request a refund from your landlord.”
- Poor conditions mean you can get out
If there are unsanitary issues on the property, the property may be considered uninhabitable.
“The rental agent can inspect it, and if the issues are not resolved by the landlord, you have every right to leave. There will be no recourse for the landlord, as he or she cannot be compensated for a tenant breaking a lease in this regard.”
- Cancellation must be in writing
You may think it is all good and well to call up your rental agent or your landlord and say you would like to cancel your lease.
“Unfortunately, instructions such as cancellations are only considered legal if done in writing, so put pen to paper, or type up an email beforehand.”
However, breaking a lease early could sometimes leave you liable.
“You may be expected to either find a replacement tenant, or to cover the landlord’s costs of advertising for one. Equally, you may be liable for the cost of the rental agent’s commission as part of the penalty of breaking the lease, as well as for the loss of rental income of up to two months, if no replacement can be found.”
