You may be enjoying your new surroundings, but be sure you’re prepared for some of life’s harsh truths. Understanding landlord and tenant duties, as well as the advantages and limitations of renters insurance, will help you stay protected during the term of your rental agreement. Here are some tips to help you safeguard your property, manage the rental, and stay safe:

1. Insurance for Tenants

Disasters occur. If your neighbor leaves his cooktop on or your rental’s basement floods, you would really like to keep your belongings safe. Surprisingly, a landlord’s home insurance usually only protects the structure itself, not the personal belongings within (your stuff). As per the Insurance Information Institute, just 35% of tenants carry renters insurance.

Do you believe you don’t have anything worth insuring? Take an inventory of your belongings, and keep in mind that even low-cost goods like pots and pans may rapidly add up when they need to be replaced — let alone your shoes!

Make certain you understand what is and isn’t covered by your policy. It should be noted that high-value products must normally be started within the policy itself for coverage because there are two types of coverage available:

1. Actual monetary value: You will be compensated for the value of your goods (what you paid, minus depreciation, which is often determined by a range of factors). This is the less expensive choice that will cover less ground.
2. Replacement cost: You will be compensated for the entire cost of repairing or replacing your belongings. This is the most costly choice, costing more than a cash value plan.

2. Maintenance 101

Rental maintenance that landlords must provide is a set of basic maintenance standards that ensure that your home, or flat, is safe and habitable. These are the minimum requirements of any landlord.

Aside from maintaining a safe and clean environment, the landlord or property manager is responsible for the preventive and corrective maintenance of all fixtures and equipment, as well as the house itself. They must also handle difficulties in a timely way, which can be difficult to quantify.

And before moving into your next rental unit, it’s important to understand the maintenance terms in your lease agreement. When you sign a lease, you’re also entering into a contract with the landlord and agreeing to pay for certain repairs and expenses.

 

3. Living Safely and Secured

As a renter, you have certain rights that we need to respect. Renters’ rights include the rights to a safe and secured rental home, rights when it comes to dealing with property managers and landlords, your responsibilities as a tenant and more.

1. Examine all detectors. Landlords must verify they operate before you move in, but they are not required to inspect them while you are a tenant. Check batteries twice a year to ensure they are in good operating order. There are also various techniques to lessen the risk of fire in your house.
2. Check the locks and install a deadbolt. Check that all windows and doors have working locks. If not, inform your landlord immediately so that they may be repaired. Request deadbolts on all outside doors if your rental does not have them. A properly placed deadbolt is significantly more secure than a single knob lock.
3. Be alert. Always be wary of individuals who knock or ring the doorbell, whether you reside in a multi-tenant complex or a single-family home. Ascertain that you have a functional peephole or another way of seeing what’s at the door. Consider the safety of people in your building while buzzing in a foreigner from an outside door if you live in an apartment.