Tips for Renting a Condo
Posted on: March 21, 2016 by Signature Insurance Group
If you’re in the market for renting a condo, you’re in good company. Choosing this dwelling over a home comes with an array of benefits and can be the perfect temporary or permanent home, depending on your needs. However, renting a condo is very different than renting a home. Therefore, it’s important to follow these recommendations to ensure a smooth rental process. Further, don’t forget to protect yourself with a comprehensive Orange County Renters Insurance policy.
Renting from the owner.
It’s common to rent the condo from the actual owner. The lease you sign will be with the owner and not the HOA. Bear in mind that any issues or repairs that need to be fixed need to go through the owner. Oftentimes, renters of the condo are not permitted to attend HOA meetings. So, if something goes wrong and you need to speak with someone about it, buddy up with a neighbor who can speak on your behalf.
Thoroughly read the lease.
Enlighten Me states that the condo owner should provide you with a comprehensive lease which outlines all of the rental terms; points which should be included on the lease include the owner’s responsibilities for condo upkeep and maintenance, who is responsible for paying the HOA fees (the condo owner or the renter) and specifics on the lease term and security deposit return.
Understand the Rules and Regulations
Next, be sure you understand the rules and regulation of the association you’re going to be living in. Some condos have strict requirements for their tenants including noise levels, occupants, parking, and more. If you receive repeated violations, the HOA might take legal action against you or the owner.
At Signature Insurance Group, we understand the importance of making sure you and your home are protected. Call us today to find out how we can help you find peace of mind with the best renters insurance policy. 855.972.9437