Before You Sign a Lease, Take These Precautions

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For many people, renting a home is more practical than buying. Whether you aren't quite ready to put down roots, or issues like finances are keeping you from owning a home, for some, renting can be an ideal arrangement. However, though renting a home can be less complicated than owning, there are still a few precautions every prospective renter should take before signing a lease. 
Here are reading for tips on what you should do and know before entering a rental agreement. 
Take Your Time
Ideally, you should give yourself plenty of time to find the right rental property. If you wait until the last minute, desperation could become a factor, and you could find yourself in a less-than-desirable property or lease. 
On the other hand, allowing yourself adequate time to tour and inspect houses or apartments can help ensure that you find a place that suits your unique needs and expectations. Plus, you'll want to make sure the property is safe, and that everything is in proper working order. And, in the spirit of a thorough inspection, be sure to photograph and document any damages to the property, no matter how small, and bring them to the attention of your landlord before signing an agreement.
Ask Lots of Questions
Not all rental agreements are created equally. For example, while the standard lease is for one year, many companies and landlords prefer longer leases. To avoid trouble down the road, be sure to ask plenty of questions, and get definitive answers on factors like pets, painting, remodeling, the length of your lease, subleasing, etc. 
Also, be sure to ask about parking, utilities and amenities. For maximum clarity and protection, get your answers in writing. 
Consider Renters Insurance
No matter how safe the home or neighborhood, you should probably consider purchasing renters insurance. In addition to offering protection from theft and certain natural disasters, renters insurance can give you coverage in the event of personal liability lawsuits, accidents and other tricky situations. For example, if your apartment is flooded due to a leak in a neighbor's apartment, that neighbor is liable for the damages to your belongings. 
However, if he or she is unwilling to pay, you can file a claim with your insurance company and get compensated for damages. In turn, your insurance providers will seek reimbursement from your neighbor. 
Read the Fine Print
Don't just glance over your lease; read every single word, then read it again. Although this tip sounds like a no-brainer, countless problems between tenants and landlords could have been avoided had the tenants gone over the lease with a fine-toothed comb. Many of the important details are located in the fine print, and some may even be obscured by complicated legalese. If there are any points you don't fully understand, be sure to seek assistance from a legal professional. 
Have your Paperwork in Order
In most cases, you'll need to do more than sign a lease to rent a house or apartment. Most landlords and rental companies require prospective tenants to provide valid identification, credit checks, criminal background checks, rental histories, rental and personal references, a rental application and more. To avoid hiccups and delays, be sure to have these documents ready to go, and don't forget copies for yourself and everyone else on your lease. 
Renting a property you love can be a great experience. And with the tips provided here, you'll be better equipped to find the house or apartment of your dreams, while avoiding legal snares and other issues. Good luck on finding your dream rental property!