Money Matters: Questions renters should ask

June 26, 2015 01:30

Millions of Americans live in rented homes and apartments, and most have signed a lease. But before you move into your next place, you should know more than the cost of the rent. Leases are legally binding documents, and not knowing your rights and responsibilities could be costly in the long run.

As US News Money explains, renters should ask questions and understand the terms of their lease, including when and how payments are expected, fees for late rent payments or ending the lease early, how maintenance will be handled, whether the lease will automatically renew at the end of the agreed time frame, and more. Landlords and renters should make their expectations and requirements known in writing from the beginning, to prevent misunderstandings.

To help your readers/listeners/viewers learn more about property leases and renter responsibilities, consider interviewing a representative of a local property management company, along with an official from your city, county or state who deals with rental property laws. Many states also have a tenants union or similar nonprofit group that can explain best practices for renters and landlords.

For more personal finance story ideas, click on the banner below:

John O'Sullivan of KMOV-TV entered the 2014 NEFE/RTDNA awards contest with a story about investors who say they lost their savings to a company that promised big returns but didn't deliver.


EIJ19 register now

2019 Research