Whenever we are doing or learning something for the first time, we tend to make mistakes simply because we didn’t know better or just because it comes with the territory. We’ve gotten some feedback from some of our community members on things they would’ve done differently the first time they rented.
Not Reading the Lease
Surprisingly, some people do not read their lease in detail, therefore they tend of find out things after the fact or when something goes wrong. Like any contract or agreement that you sign, it’s always a good idea to read and understand it before you put your signature on it. If possible, get somebody else to review it as well just so you can have a second opinion.
Waiting until the last minute
Some of our group members believe they did not start searching for a place early enough and because of this, they did not end up with what they were looking or hoping for. The sooner you start looking, the better. In some cases, you may not have a choice because you are coming from out of province or from out of the country, but it’s never too early to start planning.
Not getting an inspection before moving in
Some of our group members did not get an inspection done on their apartment before moving in, or did not do a thorough tour of the place before moving in. This is risky because you may not recognize problems until after you’ve moved in and signed the lease, and by then it may be too late to make any changes and you may be stuck with what you have.
Not discussing a roommate agreement
Some of our group members mentioned they should’ve outlined some of the house rules early or even had a roommate agreement ahead of time. In one of our previous blogs, living and getting along with a roommate, we talk about some of things that can help avoid conflict and misunderstandings. We recommend you read this if you are planning on living with a roommate.
Not getting insurance
Some of our group members mentioned they did not have renter’s insurance. This is a very risky thing to do since there could be legal implications if anything is ever damaged or destroyed and someone is harmed, or the damages are over a certain dollar amount. Please contact your bank for information on various insurance packages, and please keep in mind that most banks have favourable and affordable plans for post-secondary students. Better safe than sorry!!
Going over budget
This one is a tough one, but it happens often. Sometimes there are expenses that we do not consider or think about because they are non-routine or out of the ordinary. These include things like moving expenses, setting up cable and utilities, legal fees, furniture expenses, damage deposit, apartment inspection etc. The best way to deal with this may be writing down a list of all your expenses and how much they cost, and if you’ve been living with family, talk to them about some of the expenses they pay on a monthly basis and add them to your list. It’s always a good idea to try save some money for a rainy day if this is possible.
Not checking out the neighbourhood
This one has come up with a few of our members who were new to the city. You won’t always know what to expect from a neighbourhood but sometimes the best way is to just drive, ride or walk around the neighbourhood and try get a feel for it, this may be the best way to understand what to expect. Another option is always checking the police services. Most police services have crime maps that are accessible to the public. The Edmonton Police Service has an online neighbourhood crime map that you can use to check how safe certain neighbourhoods are.
