Rent the Perfect Pad and Keep Your Shirt

Make sure you know the lease details before you sign on the dotted line.

Looking to rent new digs? Thanks to the Internet, finding the perfect place is much easier than it used to be. But you should still make sure you understand tenants’ rights and have a handle on your finances and a basic knowledge of housing regulations before you commit.

Get It Together
First determine where and how you want to live. Then do the math. Don’t forget to factor in your monthly rent, a security deposit, utility bills, Internet access, cable television, a landline, renters insurance—and the realtor’s fee, if you have to pay one.

Finally, put together reference letters from current and previous employers and landlords, along with an up-to-date copy of your credit report for prospective landlords. In a larger market, you may need to add recent bank statements or verification of your annual income.

Protect Yourself
In Get a Financial Life: Personal Finance in Your Twenties and Thirties, author Beth Kobliner offers rules of thumb for the novice renter. Here are a few of her must-do’s:

1. List all roommates on the lease and have them sign it.
    
2. Take photographs of the space before you move in and after you move out—and do the walkthroughs with your landlord.
    
3. Get everything in writing. Period.

The Renters’ & Tenants’ Rights section at Nolo.com is loaded with more information, state-specific landlord-tenant statutes and eviction policies.

Once you move in, be sure to photograph or make a video of personal property included in your renters insurance policy. Nationwide provides directions for how to create a home inventory on our website.

Snoop Around
Before closing the deal, talk to the neighbors about the landlord, repair issues and noise concerns, and anything that could affect your quality of life. You may not be a homeowner, but you still want to live happily ever after.