Finding Vacation Rentals

Finding a vacation rental property can obviously be much more difficult than simply renting a hotel during the vacation. Of course some vacationers will be lucky and have a friend or family member who owns a home in a particular vacation destination and is willing to rent it out to others. Those who do not have this type of fortunate situation have other options for finding a vacation rental property.

Many homeowners in popular vacation destinations rent out their home during the peak season. These homeowners may allow a realtor to handle the transactions. Contacting realtors in the area of the vacation destination and inquiring about available rental properties in the area is one way to start the search. The realtor will likely be able to assist you in finding a home for rent.

There are also many popular websites where homes for rent are listed directly by the owner of the home. Searching the Internet can lead you to a reliable source of homes for rent. These homes are usually divided into categories by region and will likely provide you instant access to available dates. It will likely give useful information such as whether or not pets are allowed, the number of bedrooms and bathrooms as well as the size of the home and the proximity to nearby attraction. The listing may also provide useful information regarding the furnishings of the home. Some rental properties may include items such as bedding and cookware while some may not.

Ask Questions before Renting a Vacation Home

Vacationers who wish to rent a vacation home as opposed to spending their vacation in a hotel should exercise a certain amount of caution in selecting a property to rent. Being cautious will not only enable the vacationer to ensure his rental property meets his expectations but will also help to avoid potentially dangerous situations. One way to avoid these potential problems is by asking a great deal of questions during the process.

Renting a vacation home through a rental agency is ideal for safety purposes. In these situations the agency handles the entire rental giving the renter the security of knowing they are not walking into a potentially dangerous situation. However, even in this situation the renter should ask some important questions. These questions will be explained in the subsequent paragraphs.

How old is the property? Potential renters should ask questions about the age of the property and whether or not appliances, plumbing and electricity have been updated. This is important because this type of information can mean the difference between a comfortable stay in the property and dealing with problems related to the age of the home.

What is included in the rental? While most rentals include the basic necessities, there are some rental agreements which only include the use of the house and furniture. Renters may be required to bring along bedding, towels and even cookware.

How often is the property rented and how is it maintained? These two questions are inter-related because properties which are rented often see significantly more wear and tear than properties which are only rented a couple of times per year. Properties which are rented often should employ a maid service to clean the property thoroughly between each rental and possibly during longer rental periods.

What is the exact location of the property? Asking this question will enable the vacationer to determine whether or not the property is ideally situated for the purposes of the vacation. For example a vacationer on a ski trip would want to be situated close to the mountains while a vacationer more interested in a cultural vacation might be interested in a downtown location which will likely be closer to museums and other locations of interest.

Figure Out Your Needs

The first step of any apartment search should begin with the potential renter carefully identifying all of their needs in an apartment. This list of needs will be different for every renter. While some renters are simply looking for a place to eat, bathe and sleep other renters may be looking for a living space which will serve a number of purposes including working, entertaining and participating in leisure activities or hobbies. When making this list of needs the renter should consider the options they cannot live without as well as the options they want to have but can live without. It is important to make this distinction because the renter will want to ensure the apartment they choose has all of the features they need and ideally a few features they want. However, an apartment which does not have all the required features may become an uncomfortable living situation very quickly.

Do Your Research

Once a renter has a good idea of the basic features he is looking for in an apartment, he should begin researching his options. Researching apartments can be done on the Internet, through the newspaper or through rental magazines. Renters may use one of these research methods exclusively or may combine a few of the methods to form a customized strategy for researching apartments. The research phase will give the renter an idea of the types of properties available for rent in the area.

Comparison Shop

The next step is the process of comparison shopping. This basically entails visiting several different rental properties and touring these facilities. During the tour the renter will get a good idea of available options as well as the costs associated with these options. This is helpful for two very important reasons. First it gives the renter a good idea of the types of apartments available within their budget. Second it gives the renter the ability to bargain regarding price. Renters who have proof of other apartment complexes offering more favorable rental terms, may be able to entice another complex to lower their prices slightly.

Ask for Recommendations

Renters can also help themselves in their search for an apartment by seeking recommendations from trusted friends and family members. These recommendations can be taken to be much more worthwhile than recommendations offered by the apartment complex from previously satisfied tenants. It is important to note the apartment complex is likely to only offer testimony from tenants who were happy with their rental agreement. For this reason, opinions offered by friends and family members are much more valuable because they do not have a vested interest in the rental property and simply offer their honest opinion. Friends or family members who share your interests and personality traits can be very helpful in offering recommendations for apartments because it is very likely you will be happy with the apartment they recommend.

Consult the Better Business Bureau

Finally, renters should consult the Better Business Bureau (BBB) before making a final decision and choosing an apartment complex. This can be very helpful especially if the renter finds a particular apartment complex has a number of unresolved complaints against them. While a lack of complaints is not necessarily an endorsement, it is a good sign if the complex has been in business for number of years without a slew of unresolved complaints.

The Advantages and Disadvantages to Having a Roommate

Having a roommate can certainly be advantageous in some situations. The primary advantage is financial. Renters who opt to have a roommate, essentially cut their rent in half if they opt to have one roommate or in thirds if they opt to have two roommates. This is ideal for renters who would like to have a larger apartment but would not be able to afford such an apartment without the assistance of a roommate.

Another advantage to having a roommate is the opportunity to share household responsibilities with the roommate. Of course this is only an advantage when the roommate is willing to do his share of the work on a regular basis. If this is not the case, it may result in a huge disadvantage which will be covered briefly in the section on disadvantages.

One of the most significant disadvantages to having a roommate is a lack of privacy. Those who live alone do not ever have to worry about not having time to themselves while they are in their apartment. However, when a renter has a roommate, there is no guarantee the renter will ever have any time to himself while he is in the apartment.

Another disadvantage to having a roommate is the distribution of household responsibilities may not always be even. Roommates should have a discussion regarding the household responsibilities such as cleaning the common areas but there is always the possibility that one roommate may not do his share of the work. When this happens it can create conflict and resentment among the roommates. This conflict can make the living situation quite uncomfortable.

Select a Compatible Roommate

When selecting a roommate, the renter should be careful to select a compatible roommate. In the previous section we discussed how conflicts can arise when one roommate does not do his share of the cleaning. However, incompatible cleaning styles are only a small portion of the compatibility issues roommates may face. One important issue is entertaining. If one roommate has visitors at the apartment often, it can cause problems if the other roommate is not comfortable with this.

Even the times in which the roommates normally sleep can cause problems. If one roommate goes to bed early and wakes up at 4:00 am, it can be problematic if the other roommate likes to stay up late and not wake up until 9:00 am. In this case the roommates may not only begin to get on each other’s nerves but they may also begin to adversely affect the other’s job or social life.

Include the Roommate on the Rental Agreement

Finally, renters should be sure to include their roommate or roommates on the rental agreement. This is very important because it helps to protect all of the roommates. Inclusion of all of the roommates prevents one roommate from being able to ask another to leave unjustly. This may occur when conflicts arise but inclusion on the rental agreement ensures each of the roommates has a right to live on the property. Placing each of the roommates’ names on the rental agreement also prevents one roommate from not making their rent payments in a timely manner. It will also help to prevent one roommate from being held legally responsible for not paying the rent on time by the leasing agent.

Considering a Roommate?

Those who are considering the possibility of a roommate may mistakenly believe this is possible because they are living alone and have two bedrooms and two bedrooms. These uninformed renters may see an opportunity to share their rent with another. However, some rental agreements strictly prohibit renters from soliciting their own roommates and allowing an additional person to move into the apartment after the lease is already signed. Renters who violate this agreement may face harsh penalties. These penalties may even include eviction.

Renters who want to have the option of a roommate should ideally make this decision before the contract is signed. This will enable the homeowner to put provisions into the contract to allow for the renter to add an additional resident at any time. The leasing agent may still require final approval of your roommate but this approval process will likely be dependent on the results of a background check as well as a check of the potential roommate’s finances.

Want to Adopt a Pet?

Renters who wish to adopt a pet in the near future should also familiarize themselves with the rental agreement. This is important because restrictions on the types, size and specific breed of pets apply not only when the renter moves in but throughout the terms of his rental agreement. This means a renter who has signed contractual documents stating they do not own any of the prohibited pets such as dogs or cats are not free to purchase or adopt additional pets during the course of the rental agreement. Therefore, renters who do not have pets but plan to adopt or purchase pets in the near future should read the contract documents as if they are already a pet owner and decide whether or not to sign based on the statements within the policy.

Plan on Having Visitors Regularly?

Even renters who have regular overnight guests should familiarize themselves with their rental agreement before signing the document. This is important because frequent guests may actually be considered residents in some situations. This will likely depend on the specific rental agreement but it is not entirely uncommon for leasing agents to specify that visitors who spend a specific number of nights on the property per month are considered to be residents of the apartment. This is important because the rental agreement may clearly identify how many people may reside in the apartment at any one time.

Visitors who are staying at the apartment too often may put the resident at risk of being accused of having additional persons living in the apartment. In some situations this might be considered cause for eviction. For this reason, the renter should be sure he is familiar with the terms of the agreement before allowing others to spend the night in the apartment on a regular basis.

Did You Do Any Major Damage?

Certainly doing major damage to the apartment such as putting holes in the walls, breaking appliances or tearing up the flooring may warrant the security deposit being kept but even in these cases the leasing agent must justify these costs. In other words the leasing agent cannot use one damaged item to justify keeping the whole security deposit. Rather the leasing agent is obliged to determine a cost to repair the item. If this estimate is large enough to justify not returning the security deposit the renter should be informed of the estimated cost of repairing the apartment.

Is Your Apartment Clean Enough?

All apartments should be cleaned thoroughly before the tenant vacates the property. This should include extensive cleaning of all rooms of the apartment including the bedrooms, bathrooms and any common areas. A cleaning should also include cleaning of all of the blinds in the apartment. Blinds can be rather difficult to clean and many leasing agents charge approximately $10 per blind if they deem there is a need to clean these items. This can add up rather quickly if there are a number of windows in the apartment.

Many leasing agents also perform a number of standard cleaning functions when any resident vacates the property. This may include items such as cleaning out the refrigerator, shampooing the carpet or repainting the walls. When these items are required, there is typically a fee associated with each item. In many cases, adding up these required fees results in a number which is likely already approaching the sum of the security deposit. Additionally, leasing agents often only allow for one hour of cleaning services to prepare an apartment for the next residents. This is rarely enough time to complete the work and therefore renters wind up being charged an additional fee at an hourly rate.

Have You Read Your Contract Documents?

Renters who want to have the greatest chance of having a large portion of their security deposit refunded to them should be very familiar with their contract documents. This is important while living in the apartment as well as while getting ready to vacate the apartment. It is important to be familiar with the contract terms while living in the apartment because it can prevent the renter from making decorating choices which are explicitly prohibited by the rental agreement. These types of decisions can be costly in the long run because they may result in the renter being assessed for perceived damages by the leasing agent.

Renters should also carefully review the contract documents as they are preparing to vacate the property. This is important because it may help the renter to clean and make repairs to the apartment in accordance to guidelines set forth by the leasing agent. Doing this will make it much more likely the renter will not be assessed exorbitant fees at the conclusion of the rental agreement.

Understand the Contract Terms

Renters should review their rental agreement carefully before signing this document. The rental agreement is a legally binding document which should be given proper consideration before entering into the agreement. This is important because understanding these terms will be essential if the need to break the lease becomes a reality.

Rental agreements typically do allow the renter to break the lease but not without some form of penalty. This penalty usually comes in the form of requiring the renter to give a specified amount of notice before the contract is up and also requires the renter to pay a sum of money to break the rental agreement. A notice of 30 days and a lease break amount equal to one month’s rent are common penalties associated with breaking a lease, however, individual leasing agents may impose penalties which are either harsher or less severe.

Consider the Costs of Breaking the Lease

As previously mentioned there is typically a fee associated with breaking a lease. This fee is often set equal to one month’s rent. While paying this fee may seem excessive there are some instances in which it is an economically good decision to break the contract even though there is a financial penalty imposed.

Consider the example of a homeowner who is the process or relocating due to a job change. The homeowner may opt to rent an apartment in the new state while the house is put up for sale in the previous state. If the renter enters into a 12 month contract under the supposition that it will take this long to sell the old house and purchase a new house, he may be surprised if his other house sells quickly and he finds a home in his new state rather quickly. This may all occur within a matter of 2-3 months.

The renter has the option to stay in the apartment until the rental agreement nears expiration and then start looking for a home. However, this option runs the risk that the home he previously found will not likely be available. The renters other option is to place a bid on the new house and plan on breaking the lease if he is able to close on the new house. In this case, the renter would be saddled with both a rent and a mortgage for 9-10 months. This will likely be significantly more expensive than the price the renter would pay to break the lease.

Breaking the Lease is Not Always a Financial Decision

The decision to break a lease is not always completely a financial decision. There are sometimes emotional components which factor into the equation. For example a renter may have only 1-2 months remaining on his rental agreement when he is offered a dream job which will require him to relocate immediately. Although breaking the lease that late in the agreement is usually not financially wise, the renter may make this decision to avoid missing out on a dream job.