All about Renting
SAFETY – It is important to all of us to feel safe and secure in our homes. First of all, your neighbours and the building manager begin to know about your schedule, and any irregularity would make them question any activity that was out of pattern. It is better for you to notify your neighbours or the manager that you will be gone for a few days and ask them to pick up your mail or paper.
A building with controlled entry systems seems the ultimate in safety, but not when residents carelessly let anyone through the door as they enter, or let anyone in who rings with a particular reason to enter the building.
Fire protection in the form of alarm systems and many neighbours to warn you if there is a fire in the building is extra security in an apartment building.
In addition, you should know that apartment owners carry extensive insurance on the apartment building and property within the building or the rental unit, but not on the property belonging to you. Burglary, damage from fire, smoke, windstorm, explosion, or other misfortunes must be covered by you. It is recommended that you contact your insurance agent regarding a Renter's Insurance Policy.
LEASE – A lease or rental agreement becomes your next task and could be your most important consideration. A lease term could be for month to month, 6 months or one year. Your rent may be more per month on a short-term lease, typically if for under 6 months. Some buildings will require a one-year lease and some will accept or only give a 6-month lease.
When it comes to terminating your lease, you must remember that Minnesota State Law requires that you give the building owner 30 days notice of your intent to vacate. You should present this notice in writing and deliver it the day before your rent is due. If the owner needs to evict a resident, he is also required to give 30 days notice in writing and deliver it the day before the rent is due. However, the owner may require 60 days notice of termination of a lease as stated in the rental agreement. It is important that you read your lease and understand it before signing. It is for your protection as well as the owner and here are some of the reasons:
1) It specifies in writing what the building owner's responsibilities are and what yours are.
2) It protects you against rent increases for the term of your lease and against being evicted without any proper reasons.
3) It describes policies and procedures to avoid misunderstanding and problems in the future.
4) It explains procedures for terminating your lease if the necessity arises.
If there is any part of your lease or rental agreement that you do not understand, be sure to question it before signing. The management prefers to clear up any confusion at the start than have an unhappy resident at some later date.