C&G’s Guide: Questions to Ask Before Signing a Lease

Renting is often praised as an affordable and sustainable way to live. You’re able to enjoy the flexibility of a new lifestyle, or save money by splitting living costs with another tenant. While signing a lease is much simpler than negotiating a Sale of Contract, there are still essential points to consider before making the commitment. This C&G blog lists important questions to ask your property manager or landlord before signing the dotted line.

Can I have time to read the lease?

It’s the same for any legally binding contract – make sure you take your time reading the fine print carefully! You want to begin your landlord-tenant relationship on the same page and on good terms. If you’ve verbally agreed to anything prior, make sure it’s also included in the agreement. Ensure you understand all policies, especially ones surrounding ending or renewing the lease.

Am I paying the right rent?

The rent requested will depend on the property’s features, additional communal facilities, and its location. An up-market apartment in a desirable suburb will undoubtedly cost more, even if it has less rooms or smaller living zones than a comparable home in the outer suburbs. Balcony views and nearby attractions will also contribute to the price. A simple search of comparable listings in the same suburb will determine if your rent is reasonable. Keep in mind some landlords will include utilities in their rent, while others may not. Assessing your lifestyle needs and personal budget will also help you decide if these conveniences are worth paying for.

Can this problem be fixed?

Whether you notice a problem during your initial report or while completing your condition report, inform the landlord or property manager immediately. It’s in their best interests to keep the property well maintained, and prevent small problems developing into costly damage. Document and photograph any issues you encounter.

Do you intend to sell the property in the future?

If you find moving a long and tiring process – it can be! – then the last thing you want to hear is the property will be sold after a certain date. Landlords are required to provide an adequate Notice to Vacate but if you are intending to lease the property for a long time, it is worthwhile asking what their future investment plans are.

Got more questions about renting? Chisholm and Gamon are your go-to experts, with years of experience servicing landlords and tenants across the Bayside area. Reach out today!