The market for rental properties in Colorado is tough and competitive. If you want to avoid the pain of signing on to a Colorado residential lease agreement that may not be right for you, be thorough in getting the answers to these questions. Imagine the pain of needing a Colorado real estate attorney to help you deal with a bad residential lease agreement? Do your homework.
Here’s a list of the things you may need to consider before signing a real estate contract or lease:
- Is the property being rented by an individual or company?
- Does the property owner or management company have a web presence? Do they customer reviews available? How many and how recent?
- How many properties do they manage?
- What is your need for length of renting? Do they have lease term options and what are they?
- I would like to rent month-to-month is there an additional fee?
- What is included in your rent?
- How is rent to be collected–and on what day of the month?
- When the lease is up, will it automatically convert to a month-to-month agreement, or will I be obligated to sign a new lease?
- Is there a fee for early termination of lease? (find out the 11 key terms you should see in a rental agreement)
- What personal documents will you need from me prior to signing of the lease?
- Is there a minimum credit score to rent an apartment?
- Am I required to have renter’s insurance and if so are there minimum coverage’s required?
- If utilities are extra or other services are extra, what is the historical cost for these services for a unit like the one you are considering?
- What is the process for renewing the lease?
- When and how do they inform you of any rent increase?
- What are the terms to terminate a lease? Are there provisions for emergencies (loss of job, need to relocate to take care of family member due to health..)?
- If a tenant moves out prior to the 1st of the month will tenant be charge the full amount of rent?
- What means are provided for paying rent? On-line, check, money order (avoid cash unless you will get a written receipt)?
- What is policy on pets?
- How much is the monthly fee to keep a pet?
- Can you sublease and under what conditions?
- Is it difficult to add someone to the lease once it has been signed?
- Is parking assigned or first-come?
- Do you have to pay for parking?
- Where do my guests park?
- How much is the security deposit?
- Do they require a background check?
- How much is the application fee?
- When will I get my security deposit back?
- What is withheld from my security deposit? Click her to check out what Colorado law allows and the process.
- Monthly rent; what is the late charges date? (i.e. Rent due on the 1st the 6th day of the month)
- Are there any move-in specials?
- What is the lease start and end date?
- Which fees are non-refundable?
- Have there been pest problems? How to they handle pest control?
- How are maintenance request handled?
- What is the average time for responding to a maintenance request?
- If you are looking in an apartment complex, seek to find a random tenant and inquire what they like and don’t like about living there.
- Does apartment have AC (find out what type of system being used; turn it on during your walk thru and check vents for proper air flow)?
- Can I have a washer and dryer?
- Does the unit come with a washer and dryer?
- Are there washer and dryer hookups?
- What if I don’t like my future neighbors?
- What do they do to update or upgrade the unit between rentals?
- Is there a process to submit complaints about management or maintenance, if I have one?
- How does the management company or owner communicate with residents or tenants?
- How many complaints have been filed against the landlord or the management company?
- What modifications or alterations can be made to the property? What is the process for approving?
- Can I paint the walls or ceilings?
- Does the property come with a fire extinguisher?
- How often are the smoke alarms tested?
- Does apartment manager live on site?
- Are the office hours user friendly?
- How is mail delivered to the apartment (what happens to large packages and registered mail)?
- How is trash handled for large items such as a sofa, mattress, or computer desk?
- What storage space is available?
- How good is the cell phone reception from my this area?
- Is there a place for tenants to wash their car?
- What are the seasonal challenges for this property (i.e. it rains and apartment floods, pipes freeze during winter)
- How many windows are there:
- Do all the door and window locks work?
- How many electrical outlets in each room?
- Is there a BBQ grill on site?
- What role does the landlord play if mold is found in apartment?
- Does carpet need to be clean?
- Is there a fitness center?
- What are the hours of operation for the fitness center?
- Has there ever been a fire/flood in this property?
- I’ve been locked out of my property is there a number to call to be let back in?
- Is it safe to walk or run in the neighborhood at night?
- What are the public transportation options in the area?
- Will the location of the property affect your car insurance rates? Other insurance rates?
- Is the stove gas or electric?
- Can I take pictures during tour of property and apartment?
- Are there cracks in the walls or ceilings?
- Is there a sprinkler system for apartment?
- Is the apartment furnished?
- Is the water pressure normal in the kitchen and shower (also check to see how long it takes water to turn hot)?
- Do all doors open/close easily?
- Where/when is the trash collected?
- You have furniture: How wide are your doors (make sure it will all fit)?
- Do you have registered sex offenders living in this complex?
- Do policeman live in the complex?
- Are there security cameras or a security system in place?
- Have breaking and entering ever been reported for this property?
- Does the front door have a deadbolt installed?
- What security features are installed for this community?
- Does front door have a peep hole? (rare not to have but worth checking)
- What are your responsibilities as a renter?
- What are the responsibilities of the owner to you?
- What is your emotional reaction to the property?
Looking for a sample residential lease agreement? Click here.
This exhaustive list will help you make sure you’re making the right decision about your property.
Whether you are entering into a real estate contract or a short or long-term lease for residential or commercial property, it’s important to step back and take a moment to consider a wide range of details about the property you’re interested in.