If you decide to move from one rental home to another, even within the same neighborhood, it’s a big change. You will now go to a new space and leave the old one behind. And, even once you move, you might have a brief period during which you still have responsibility for the old property. So, you
need to tie up loose ends as accurately as possible. If not, you might encounter unexpected challenges and costs that you might not like. What do you need to do when you move? Keep the following tips in mind.
Review Both Leases
During a move, an old lease will terminate, and a new one will start. Because the lease is a legal document, you must start and end them appropriately.
- Review the old lease to make sure you have paid all outstanding rent or fees. Then, take a look at your new lease to make sure you have acknowledged and agreed with all potential charges.
- Both leases will list start and end dates for your occupancy. You have responsibility for each property for the duration of these times. Therefore, ensure leases list the agreed upon start and end dates. Do this before signing the new lease.
- Talk to the landlord to see if you have any responsibilities upon move-out. Do you have to shut off the utilities or electricity? When must you remove all items from the new property? Do you have to do a walk-through with the property manager?
Update Your Renters Insurance
Most landlords require renters to carry renters insurance. You must update your policy upon your move.
- Make sure your liability limits still meet requirements set by the property owner. The liability coverage will help you repay others if your mistakes cause them injuries or property damage.
- Update your possessions insurance limits to make sure they reflect the value of your belongings.
Review Your Upkeep Responsibilities
In most cases, you will have to clean up the home you move out of. If you don’t your landlord might not refund you the full security deposit you might have put on the property. So, you’ll have to clean up, and even make small repairs, before you can terminate the existing lease. If you have made any changes, like repainting or installing fixtures, talk to the landlord. See if they require you to remove them.
Do a walk-through of the new property before you move in. If you notice problems like holes in the wall, stains or damaged flooring, tell your landlord. That way, they will know that you were not the cause of the damage. That might save you a lot of hassle when the time comes to move out.
Also Read: Who Fixes Rental Damage? The Owner or Renter?