Susan Smith, Staff ReporterPRICE, SECURITY of the area and a clearly drafted contract are the three major things to pay closest attention to when looking to rent a property, says broker at McEachron and Clarke Real Estate Company, Joyce McEachron.
"Price is the deciding factor in most cases," she said. "Most lessees are security conscious and prices will determine the type of security being offered," she added.
However, the real estate experts strongly recommend that persons seeking to rent
properties ask about the existence of a written contract and the terms thereof before making a final decision.
The lease agreement is one with the tenant and the landlord and should detail the conditions under which the tenant will live.
"It's always wise to sign a lease agreement with at least a one-year contract," said sales associate, Lilleth Clarke. "You are subject to whatever the landlord comes up with because you have no contract and verbal communication proves nothing in a course of law," underscored her partner.
At the end of the first period of the lease agreement, this contract can be negotiated either upward or downward since, according to Mrs. McEachron, market
conditions could very well send down the renegotiated price.
Mrs. McEachron advises that persons stay away from vague contracts and look out for the penalty clauses.
"You should be aware of the penalty clause if it is there, so that if the contract is broken by the (landlord), the (tenant) can take a course of law," she said. "Usually a landlord agrees for an amount for repair over and above a certain amount, depending on the price of the property," she further explained.
This means the tenant will need to understand that repairs to property below a certain cost can be done by the tenant and does not need to involve the landlord.
