There are a few things you need to consider before you rent an apartment or unit. This will ensure the place you are considering is a good fit for you and it will also help prevent some costly mistakes and problems that are easy to avoid. We’ve compiled a list of things you need to consider before you rent a property and sign the lease.
Is there a penalty for breaking the lease?
Some lease agreements have a penalty for breaking the lease. Whether or not your landlord will enforce this penalty if you break the lease early is up to them. If you’re not comfortable signing a long-term lease, speak to your landlord about the available flexible lease options. Some may be comfortable with a month to month lease or a lease that is eight or nine months long that will cover the fall and winter terms.
Are you allowed to sublet?
This is an important one since some students will leave their apartments during spring and summer to go back home, but don’t want to break a one-year lease. So, while they are away during spring and summer, they’ll sublet the apartment. If you fall into this category, have an honest and open conversation with your landlord. If you sublet the apartment without your landlord's knowledge or permission this could lead to fines and in extreme cases eviction.
How do I pay the rent and what if it’s late?
Nowadays most landlords receive electronic payments but some still like the good old-fashioned cheque. What’s important here is that you know how to make the payment and when to make the payment. It’s also important to know if there are any penalties for paying your rent late. Some landlords are ok if it’s a few days late while others may find this unacceptable. If you ever feel you might be late paying your rent, at least let your landlord know ahead of time since they may be more lenient.
If you live in a unit that’s owned by your landlord, but the building is owned and managed by a property management company, it can get complicated when deciding who is responsible for resolving different problems. In some cases, property management companies will only work directly with the owner of the unit and will not communicate directly with tenants. Before you sign the lease, have this conversation with your landlord and figure out who should be contacted for different problems and what the expected resolution or response time is.
What utilities are covered by rent?
Some rental units are all inclusive and your rent payment will cover all utilities, cable and internet. Understanding what is and isn’t covered will help you get set up and ease the move in process. If utilities aren’t included this means you may need an account with a utility provider. If you must pay for utilities make sure you do a meter reading at the beginning of your lease so that you’re only paying for what you used.
The parking situation
It’s important to know if your rental unit has parking and whether it’s assigned. And if it is assigned parking, make sure you know what your stall number is. We’ve heard of an instance where a tenant parked in the wrong stall and their car ended up getting towed even though it was an honest mistake. This is an extreme case but it’s definitely food for thought.
When you move into a new apartment, take the time to do a tour of the building and identify where the security cameras are and any other security measures that exist. We’ve heard a lot of stories of cars being broken into or bikes being stolen from underground parkades because they weren’t placed in a secure storage room. Or instances of people letting strangers in who ended stealing items. There are always steps you can take to keep yourself and your neighbours safe and this starts with understanding the different security measures that exist.
Can I make any changes to the unit?
If your unit is not furnished, you’ll have to bring your own furniture, but it’s important to understand what else you can do when it comes to redecorating and making the unit feel like home. These details may be in the lease agreement but if you’re not certain, you can always ask your landlord.
Who is responsible for any damage and what’s the process for repairs?
Depending on the nature of the damage, the tenant may be responsible for repairs or the landlord may be responsible for repairs. If you live in a building that’s managed and maintained by a property management company, then they may be responsible for the repairs. It’s one thing to know who’s responsible but it’s also important to know the steps you need to take to get the repairs done and resolved before they turn into major issues. Talk to your landlord to figure out responsibilities and the process as well.