In high school I as taught about budgeting and mortgages, among other real life finances, in consumer math class. Speed typing, creating resumes and formal letter writing in computer class. CPR in phys. ed. I took law class.
But no one taught me about renting and what my rights and responsibilities were as a tenant. Even though my mom rented for the most part when I was growing up, I only knew the bare basics. You pay rent, respect the peace and property, keep the place relatively clean, don't own a pet unless granted permission and all will be fine. That record stops there. There is more to it than that and landlords, caretakers and rental agencies are taking advantage of young, new renters, and vice versa. Some agencies and landlords refuse to rent to anyone that has less than 4 years of renting history. And, no, renting with your mom doesn't count. Most places have rents that are so high that no minimum wager can afford their units, and I believe they also do this on purpose to make sure that only seemingly responsible, successful people are accepted. Little rant.
So, I decided to make this thread to help parents educate their kids on how to navigate the renting life and avoid disastrous situations that often cause adult kids to move back home. Please note that laws and by-laws vary from region to region. But you can obtain renters and landlords rights from your state or provinces Tenancy Board.
!. The vacancy rate misconception. People think that a no or low vacancy rate means no one is moving and there is place to rent at all. The vacancy rate just rates how many ready-to-move-in suites there are. But people who rent move all the time and suites are quickly taken afterward.
2. Be aggressive, but saying "I'll take it." isn't always accepted nor a guarantee you will get the place. You will need to fill out an application and have a cheque ready for the security deposit to hand to the agency right away.
3. Be prepared. You may have to fill out an application and it may require all sorts of identifying information, your rental history, emergency contacts and references. Make sure to collect references from teachers, employers, perhaps the landlord your parents rent from, if they want to. As stated above, have a cheque ready for the security deposit or damage deposits. This usually amounts to half the rent. Some places ask for both security and damage deposits. Others just one of the 2. Then that way if you are approved, the cheque will be cashed and the suite is yours. If not approved, your funds should not be touched.
4. The caretaker. Caretakers can be scary. They often get into a power kick and act like they are the owners. They still need to abide by a rules of conduct, both legally and as an employee of the landlord. They are there to maintain the property, be a messenger and make sure everyone is behaving themselves. If there is a renter/caretaker conflict it should be settled with the landlord or agency. If nothing gets resolved then go to the tenancy board.
5. Tenant rules and responsibilities made up by the landlord. The place I'm living at now has a long, growing list of rules. Some are fair, some are unfair, don't make any sense and others are unethical and illegal. Before you move in, go over the rules, ask questions and present it to the tenancy board if you are unsure and haven't gotten a straight answer.
6. Paying rent. There are new ways of paying rent electronically with some properties. Some agencies don't have debit nor accept cash. Be careful with the 1st of the month deadline. At my place, rents brought to the caretaker are due on the last day of the month or rent can brought down to the agency on the 1st. When you move in, or before you move in, you should have the rent for the month and maybe for the next month, as some places might require an advancement.
7. Late rent. This is what puts renters in hot water. There is often fees for late rents and dishonored cheques. But it's up to the landlord on what to do with renters you pay late. Depending on where you live, landlords don't have to give you 2nd chance to pay on time and can evict you within a week from the 1st, some landlords may give adequate chances.
8. Maintenance and upkeep. Small repairs can easily be done by you as long as it doesn't cause the issue to get worse. Cleaning and upkeep is your responsibility. If there is a fixture you are not sure of how to handle then have the caretaker or someone in maintenance to show you. Bigger, complex repairs will require maintenance and should be reported ASAP to avoid being left on the hook for the costs.
9. Suite inspections. The inspection should be before you move in and with you and someone else, like a co-signer, present. You may be given a check-off sheet to mark down any flaws or damage left by the previous tenant. If there is carpeting, you should be able to have it cleaned complimentarily before you bring in your things along with any other repairs. Suites should be cleaned, anyways, once the previous tenant moves out, but it may not be or not to your standard. I always clean the suite myself before my stuff comes in.
10. Need a co-signer? This is common now. Before you even start your search you should establish who is willing to co-sign. This means that the co-signers employment, rental and credit history is used instead of yours. Why should anyone have to take up this risky responsibility for someone? The only answer I've gotten is "just in case something happens" and "we don't trust inexperienced youth." It's basically to cover the landlord's and agencies arses. If someone has moved a lot, doesn't have credit or bad credit, has spotty employment or changes jobs every year or more, it's viewed as a red flag. But that doesn't mean you are a bad renter. It's a good idea to draw up a formal agreement with your co-signer and get it legalized if you can.
11. Dealing with landlords and staff. Some people are difficult to deal with from the start. There is discrimination, preconceived stereotypes, profiling present in landlords and caretakers. When you go see a rental it's a good idea to treat it like you're going for a job interview. Dress appropriate and modest. Remember your manners but be confident prepared. Always have a person with you. Remember you are looking at someone's place whom you don't know. If there is an issue at any time you are looking or renting it's important to stay calm and be respectful, even if a staffer is being belligerent or abusive or is harassing you. Write down the incident with a date, time and where you were and what you were doing and what was said by you and the confrontational staff. Whenever you have to present the agency or landlord with any issue or request, you should have it written down, sent to the agency, tenancy board and keep a copy with yourself. Keep all notices, letters, FYI's filed away.
12. This isn't a frat house. As a tenant you have to be respectful of your neighbors. Parties and just plain rowdiness isn't tolerated. Not only can it land you a dreaded E. word notice, it can be stain on your tenant records. As well as being negligent and disrespectful to the property. Even chronic loud machinery can be considered a nuisance. my ex knew someone who would bring his tow truck home every night and was evicted.
I think that's plenty for now. Feel free to add some more.
But no one taught me about renting and what my rights and responsibilities were as a tenant. Even though my mom rented for the most part when I was growing up, I only knew the bare basics. You pay rent, respect the peace and property, keep the place relatively clean, don't own a pet unless granted permission and all will be fine. That record stops there. There is more to it than that and landlords, caretakers and rental agencies are taking advantage of young, new renters, and vice versa. Some agencies and landlords refuse to rent to anyone that has less than 4 years of renting history. And, no, renting with your mom doesn't count. Most places have rents that are so high that no minimum wager can afford their units, and I believe they also do this on purpose to make sure that only seemingly responsible, successful people are accepted. Little rant.
So, I decided to make this thread to help parents educate their kids on how to navigate the renting life and avoid disastrous situations that often cause adult kids to move back home. Please note that laws and by-laws vary from region to region. But you can obtain renters and landlords rights from your state or provinces Tenancy Board.
!. The vacancy rate misconception. People think that a no or low vacancy rate means no one is moving and there is place to rent at all. The vacancy rate just rates how many ready-to-move-in suites there are. But people who rent move all the time and suites are quickly taken afterward.
2. Be aggressive, but saying "I'll take it." isn't always accepted nor a guarantee you will get the place. You will need to fill out an application and have a cheque ready for the security deposit to hand to the agency right away.
3. Be prepared. You may have to fill out an application and it may require all sorts of identifying information, your rental history, emergency contacts and references. Make sure to collect references from teachers, employers, perhaps the landlord your parents rent from, if they want to. As stated above, have a cheque ready for the security deposit or damage deposits. This usually amounts to half the rent. Some places ask for both security and damage deposits. Others just one of the 2. Then that way if you are approved, the cheque will be cashed and the suite is yours. If not approved, your funds should not be touched.
4. The caretaker. Caretakers can be scary. They often get into a power kick and act like they are the owners. They still need to abide by a rules of conduct, both legally and as an employee of the landlord. They are there to maintain the property, be a messenger and make sure everyone is behaving themselves. If there is a renter/caretaker conflict it should be settled with the landlord or agency. If nothing gets resolved then go to the tenancy board.
5. Tenant rules and responsibilities made up by the landlord. The place I'm living at now has a long, growing list of rules. Some are fair, some are unfair, don't make any sense and others are unethical and illegal. Before you move in, go over the rules, ask questions and present it to the tenancy board if you are unsure and haven't gotten a straight answer.
6. Paying rent. There are new ways of paying rent electronically with some properties. Some agencies don't have debit nor accept cash. Be careful with the 1st of the month deadline. At my place, rents brought to the caretaker are due on the last day of the month or rent can brought down to the agency on the 1st. When you move in, or before you move in, you should have the rent for the month and maybe for the next month, as some places might require an advancement.
7. Late rent. This is what puts renters in hot water. There is often fees for late rents and dishonored cheques. But it's up to the landlord on what to do with renters you pay late. Depending on where you live, landlords don't have to give you 2nd chance to pay on time and can evict you within a week from the 1st, some landlords may give adequate chances.
8. Maintenance and upkeep. Small repairs can easily be done by you as long as it doesn't cause the issue to get worse. Cleaning and upkeep is your responsibility. If there is a fixture you are not sure of how to handle then have the caretaker or someone in maintenance to show you. Bigger, complex repairs will require maintenance and should be reported ASAP to avoid being left on the hook for the costs.
9. Suite inspections. The inspection should be before you move in and with you and someone else, like a co-signer, present. You may be given a check-off sheet to mark down any flaws or damage left by the previous tenant. If there is carpeting, you should be able to have it cleaned complimentarily before you bring in your things along with any other repairs. Suites should be cleaned, anyways, once the previous tenant moves out, but it may not be or not to your standard. I always clean the suite myself before my stuff comes in.
10. Need a co-signer? This is common now. Before you even start your search you should establish who is willing to co-sign. This means that the co-signers employment, rental and credit history is used instead of yours. Why should anyone have to take up this risky responsibility for someone? The only answer I've gotten is "just in case something happens" and "we don't trust inexperienced youth." It's basically to cover the landlord's and agencies arses. If someone has moved a lot, doesn't have credit or bad credit, has spotty employment or changes jobs every year or more, it's viewed as a red flag. But that doesn't mean you are a bad renter. It's a good idea to draw up a formal agreement with your co-signer and get it legalized if you can.
11. Dealing with landlords and staff. Some people are difficult to deal with from the start. There is discrimination, preconceived stereotypes, profiling present in landlords and caretakers. When you go see a rental it's a good idea to treat it like you're going for a job interview. Dress appropriate and modest. Remember your manners but be confident prepared. Always have a person with you. Remember you are looking at someone's place whom you don't know. If there is an issue at any time you are looking or renting it's important to stay calm and be respectful, even if a staffer is being belligerent or abusive or is harassing you. Write down the incident with a date, time and where you were and what you were doing and what was said by you and the confrontational staff. Whenever you have to present the agency or landlord with any issue or request, you should have it written down, sent to the agency, tenancy board and keep a copy with yourself. Keep all notices, letters, FYI's filed away.
12. This isn't a frat house. As a tenant you have to be respectful of your neighbors. Parties and just plain rowdiness isn't tolerated. Not only can it land you a dreaded E. word notice, it can be stain on your tenant records. As well as being negligent and disrespectful to the property. Even chronic loud machinery can be considered a nuisance. my ex knew someone who would bring his tow truck home every night and was evicted.
I think that's plenty for now. Feel free to add some more.
