Yeah, it’s college, but at the end of the day (or year), an Ohio University student rental is just like any other apartment, and that lease you’re signing is a legally binding agreement. It’s a big step, and you could be held financially liable for any side of your agreement you don’t hold up, including back rent, late fees, and any property damage. Plus, there may be hidden things in the lease you weren’t aware of when you signed your name to the dotted line. Here are 3 things to understand about a lease before committing your legal signature.
Do the Terms Match What You’ve Been Told?
Anything mentioned in passing is as legally binding as an urban legend. Comb through the lease and ask for clarification on anything you don’t understand. Most leasing managers will be happy to answer your questions. If you need extra help or something seems fishy, contact the Student Center for Legal Services who can offer you some free advice.
Look for Additional Fees
Pay attention to whether utilities are included in the rent or billed separately. Most landlords put it on you to pay your own heat and electricity, though some will offer it as part of the rent and even throw in cable and WiFi services as well. It’s something to think about before you crank up that AC in your Athens apartment.
If your rental has a yard, there may be additional fees involved with maintenance for it. The same goes for parking at your rental, too. Though these are more concerns for those living close to campus and Uptown.
Read the Entire Lease
It might not make for riveting pleasure reading, but you should read through the entire lease from beginning to end before signing. There’s a lot of money at stake after all, and you don’t want to kiss your security deposit goodbye because there was something hiding in plain English you just skipped over in your haste to sign. It’s all part of renting an apartment in Athens Ohio.
Location, Location, Location
While it’s easy to get swept up in the excitement of moving off-campus and living on your own, it’s important not to overlook the location of the property.
Some apartments may be significantly further away from campus than others, which can be a major inconvenience and timewaster. On the flip side, living on Court Street close to the bars may not be your scene if you’re not the going out type.
It’s important to consider factors like proximity to campus, grocery stores, public transportation, and other amenities when choosing a student rental. Additionally, you may want to consider safety concerns and crime rates in the area, especially if you plan to walk or bike to campus.
Know Your Roommates
Living with roommates can be a fun and rewarding experience, but it can also be a source of conflict and stress if you don’t know your roommates well or if you have incompatible living styles.
Before signing a lease on a student rental, make sure you have a clear understanding of who your roommates will be and how you plan to split responsibilities like rent, utilities, and cleaning. You may want to consider discussing ground rules or drafting a roommate agreement to help minimize misunderstandings and conflicts.
Remember, the number of roommates dramatically changes your living dynamic. It’ll be more expensive, but simultaneously easier to manage a two-bedroom living situation than say a four-bedroom house.
Understand Your Lease Terms
As previously mentioned, it’s crucial to read your lease thoroughly and ask any questions you may have before signing. However, it’s also important to understand the specific terms of your lease, such as move-in and move-out dates, security deposit requirements, pet policies, and other rules and regulations. If you have any concerns or questions about the lease, don’t hesitate to bring them up with your landlord or leasing agent.
Additionally, it’s a good idea to keep a copy of your lease in a safe place so that you can refer to it later if needed.
Budget Accordingly
Living off-campus can be significantly cheaper than living on-campus, but it’s still important to budget carefully and avoid overspending.
Before signing a lease on an OU student rental, make sure you have a clear understanding of all of the costs associated with renting the property, including rent, utilities, and any additional fees or charges. You may also want to consider setting up a separate bank account or budgeting app specifically for your rental expenses to help you stay on track. And if you’re living with roommates, be it anything from a two-bedroom apartment to a six bedroom rental, remember to have a way to split expenses.
Need budgeting help? Here are some helpful tips on keeping costs low on one of the biggest line-item expenses for students – food.
Consider Renters Insurance
While not required, renters insurance can be a valuable investment for students living off-campus.
Renters insurance can help protect your personal belongings in case of theft, fire, or other unexpected events. Some policies may also cover additional expenses like temporary housing or liability claims. When choosing a renters insurance policy, make sure to read the fine print and understand what is and isn’t covered.
Setting up shop in a student rental can be an exciting and rewarding experience, but it’s important to take the time to understand your lease and make informed decisions before signing. By doing your research, budgeting carefully, and understanding your legal responsibilities, you can enjoy a stress-free and enjoyable off-campus living experience.