Five Little-Known Facts All Renters Should Know

Five Little-Known Facts All Renters Should Know

Five Little-Known Facts All Renters Should KnowAs a tenant, you know you are legally required to pay your rent on time and take care of your dwelling during the duration of your lease. However, there are many other regulations and rights that you inherently have that you probably aren’t aware of. With that in mind, read the following list of little-known facts about renting. In addition, don’t forget to protect yourself and your personal items with a comprehensive Norwich Renters Insurance policy.

You aren’t out of luck with bad credit.

If you are struggling to rent from your poor credit score, this doesn’t mean you are out of luck. In fact, if you participate in debt counseling, or have since recovered from your bad credit situation, there is light at the end of the tunnel. If you are in a bind and need a place now, consider cosigning with a qualified and trusted friend who can vouch for you.

Your deposit should earn interest.

“Tenants are entitled to an interest rate in line with a standard savings account on their deposits, but it will very much depend on what the landlord or managing rental agent provides,” says Natalie Muller, Western Cape Regional Rentals Manager for Jawitz Properties. “There are clever alternatives to a huge deposit, as well as special loan options and deposit guarantee products. You should chat to your agent about the options and costs involved,” she explains to Property 24.

Know your options when it comes to burglary.

It’s the worst-case scenario: you move in and that day you are robbed. If you feel as though your landlord is liable, file a claim through your renter’s insurance and they can coordinate the refund process. Be sure to check that the doors and window locks work properly before moving in.

You can get out of a lease if you’re living in poor conditions.

If you are faced with mold, raw sewage, or other conditions that consider the property uninhabitable, you are eligible to break your lease. Get a second opinion by a rental agent and if the issues are not immediately resolved by your landlord, you can move out without penalty.

You must get cancellation in writing.

You’re not legally off the hook until you get your lease cancellation in writing. Depending on the lease agreement, you might be liable for finding another tenant or advertising your rental. Comb through your contract to avoid an accidental breach.

 

About Byrnes Agency

At Byrnes Agency, we specialize in safeguarding your property and your assets. We understand the risk implications of renting and seek to provide comprehensive coverage to give you peace of mind. To learn more about our coverage plans, contact us today at one of our three locations.

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Dayville Office

Phone: (860) 774-8549
394 Lake Rd
Dayville, CT 06241
United States
info@byrnesagency.com
Hours of Operation: Monday- Friday 9:00am-5:00pm

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Norwich Office

Phone: (860) 886-5498
6 Consumers Avenue
Norwich, CT 06360
United States
info@byrnesagency.com
Hours of Operation: Monday- Friday 9:00am-5:00pm

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Woodstock Office

Phone: (860) 928-7928
1226 Connecticut 169
Woodstock, CT 06281
United States
info@byrnesagency.com
Hours of Operation: Monday- Friday 9:00am-5:00pm

 

 

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