Renting an apartment is an exciting time, especially if it’s your first time. After all, you are finally getting your own place.
However, there are many pitfalls on your way that you need to make sure you keep an eye on. There are many important things you need to know before signing the lease. Here are 5 significant interesting points before marking your name on the rent:
Understand Your Responsibilities
Landlord is not always responsible for all the repairs. You need to understand your responsibilities too. In many cases, it is mentioned in the contract that tenant is responsible for all maintenance and repairs. Landowners of Dubai Creek Harbour Property for Sale are excessively accountable regarding this matter.
Some landlords hold tenants responsible for repairs such as air conditioning, heating and plumbing. Remember you are not responsible for the maintenance. Specify your limits. You cannot withhold rent if the landlord refuses the responsibility. You should know what’s entailed in your lease.
While reading the lease, make a list of all the requirements that you do not agree with and send that list to your landowner. Many terms on the lease are negotiable. And negotiation is not over even if you are holding lease in your hands.
Many savvy tenants negotiate for a short lease with an option of renew. Some also negotiate for CAM stop lease. The worst that can happen is landlord saying NO. But remember, even then you are in the driver’s seat and can still walk away.
Understand the Lease
The language in lease is not understandable by a layman. It includes many legal terms and phrases. It very important for you to read it thoroughly and understand it. Make sure you understand the leasing terminologies.
Remember that the CAM (Common Area Maintenance) you are responsible for is based on percentage of building you are renting. Unfortunately, many tenants think they have to pay based on square foot. They do not know that they are paying extra charges. Make sure you are not charged any such additional charges plus any administration fees.
Your landlord has some responsibilities that they must adhere to at all times. It can be repairing of appliances, plumbing or white wash. Find out if they have something in history that might stop you from renting their house. So it’s always necessary to do a research on your landlord before signing the lease.