Everything about Rent

**Albert L.** · 02-28-2011, 09:58 PM

Rent is perhaps the most important concept to understand when signing onto a tenancy agreement. Once you’ve signed a lease you are legally obligated to pay rent according to the terms of the contract. That may seem simple, but there are a few aspects of rent payments that must be understood.

Rent only covers that which is agreed to: your landlord is only obligated to provide you with services that are agreed to in the contract. Make sure that if you have been told that utilities are included, that it is stated on the contract prior to signing. Other services to keep in mind of what rent does or does not cover may include: parking, cable, heat, electricity, hydro, air conditioning units, or central air. It is not necessarily a loss if any of these aspects are not included in your rent; it simply means that for access to them you will be charged an extra fee. If utilities are not included in your rent, it also gives you the opportunity to control the amount of utilities you use, potentially saving you money if you conserve.

Rent price is set in the contract: agreement on price between the landlord and tenant is set in the contract. Ensure that the price you’ve agreed to verbally is the same price written in the rental contract.

Rent Deposits are common: most, if not all, landlords or rental companies will ask for a rent deposit. This deposit can be no more than the cost of one month’s rent (or one week’s rent if rent is paid weekly.) This deposit may only be used as last months (or week’s) payment. If rent is raised at any point, the landlord may ask you to supplement the deposit to that amount. The landlord is also obligated to pay tenants interested on their deposit every year.

Payment method is also subject to agreement between tenant and landlord. This payment method must be agreed upon by the landlord and tenant, and cannot be changed unless both parties approve the change. Though a landlord can offer to accept payment via post-dated cheques or automatic payments, they cannot require tenants to pay via those methods.

Rent receipts only upon request. Landlords are only obligated to a provide rent receipt if the tenant requests one, these receipts cannot be charged for.

**mike.stanley0007** · 03-14-2011, 06:09 AM

Real estate is now going average.

**jhonmartin** · 03-17-2011, 12:45 AM

It looks like the less you put down, the better off you are. If you want to survive in property market then avoid the mortgage insurance. Money for a bigger down payment may be good reason for saving.

**serilstone** · 03-24-2011, 12:08 AM

Thanks for sharing your experience. Everyone want to buy a good house. But everyone has not enough budget. So, they get good home on rent.

**vijendrasnv** · 03-25-2011, 03:37 AM

I do think the same about mortgage insurance and feel better about bigger down payments as it is quite necessary. Also, renting by making down payment is worth and it simply help in knowing better.

**Luxury Homes Tampa** · 03-28-2011, 05:11 AM

Hi
Thank you for share this info. i do expect the aforesaid about finance payment and feel better about bigger losing expenses as it is totally essential. Also, rent by reliable down deal is explanation and it openly counsel in living superior.

**jumpingspidermedia** · 03-30-2011, 08:16 PM

A payment made by a tenant at intervals in order to occupy a property; A similar payment for the use of equipment or a service; A profit from possession of a valuable right, as a restricted license to engage in a trade or business; To occupy premises in exchange for rent; To grant occupation ...

**vijendrasnv** · 04-04-2011, 03:52 AM

I need to understand it well so that, at the time of hiring tenants it will not be that tough for me in future.

**James_alex** · 04-05-2011, 04:06 AM

For any one who is new to renting must get updated with all the things that are necessary and important and beneficial.

**realestategirl** · 04-26-2011, 05:16 PM

I always say have a lengthy talk with the landlord about the coverage of your rent and take note of this. Once he or she has already drafted the contract, read it carefully and make sure that what verbally agreed upon is what is written on the contract.