Renting a home or apartment can be an exciting step, whether moving out for the first time, relocating for work, or just looking for a change. But if you're new to the process, you might encounter some real estate lingo that feels more confusing than helpful!

To make your rental journey smoother, here’s a breakdown of key rental terms every renter should know before signing the dotted line.

Lease Agreement

This is the legal contract between you (the tenant) and the landlord or property manager. It outlines important details like rent amount, duration of the lease, rules for the property, and termination terms. Always read the lease thoroughly.

Security Deposit

This is a sum of money (usually one month’s rent) paid upfront to cover potential damages or unpaid rent. If you leave the property in good condition, this deposit is usually refundable.

Renters Content Insurance

While not always required, renters' insurance protects your personal belongings in case of theft, fire, or water damage. Some landlords may make this mandatory, so it’s good to budget for it from the start.

Utilities

Utilities include water, gas, electricity, and sometimes internet. Check your lease to see which utilities are included in the rent and which ones you’ll need to pay for separately.

Eviction

Eviction is the legal process of removing a tenant from a property, usually due to nonpayment of rent or lease violations. Avoiding eviction is crucial, as it can affect your rental history.

Notice of Termination

If you’re looking to end your rental agreement, you are usually required to give written notice, typically 30 to 60 days, before you move out. Failing to do this can result in penalties such as loss of your deposit.

Maintenance Request

If something breaks or needs repair in your rental unit, you’ll submit a maintenance request to your landlord or property manager. Good communication is the key to resolving issues quickly.

Understanding these terms will not only help you feel more confident while apartment hunting but also set you up for a stress-free renting experience. At Wiseberry Real Estate, we’re here to help you every step of the way—from finding the perfect rental to making sure you understand your lease inside and out.

Got more questions about renting? Reach out to our team today—we’re happy to help!

Key Terms Every Renter Should Know

Key Terms Every Renter Should Know