Take care of your credit while renting. People know what major financial step home ownership represents, but we often overlook the financial and credit implications of renting an apartment or home. There are some important things to consider.
When renting a home or apartment, one of the first things to do is investigate the area and call the local police and find out the crime level in the area. If you are thinking about renting an apartment, be sure to ask how many times the police have been to this apartment complex. Many consumers have walked out on their contract due to unexpected crime at the apartment complex or surrounding areas.
Also, be sure to get a lease that properly fits your future. Don’t take sign a one year lease if there is a possibility for a job change. It is best to do six months at a time if possible.
Before signing a contract, walk through the apartment or home with the manager and document all imperfections in the dwelling and have the manager or owner sign it. Follow up with photos of every room. Put this documentation in a file and don’t lose it, because we have seen management change hands and the new person will have no documentation of the imperfections you found. This will save you from being charged excessive fees, and you will cut down on many problems when moving out.
Now, if you have a judgment on your credit report for rental that you had early termination on, go back to that house or apartment you lived in and ask the new tenant when they moved in. Because if they moved in right after you moved out, the judgment can be dismissed because management cannot charge the same rent twice.
Protect your family and rent wisely. And until next time, good credit to you.