There are a host of reasons why renting a place instead of buying might be a great idea for you (we even dedicated an entire episode to the topic!). But when it comes to renting and entering into a lease agreement with a landlord, you want to make sure that you’re prepared and taking the proper steps to protect yourself. Listen as we cover everything from Wall Street landlords to negotiating leases to the low cost of renters insurance.
Additional Resources:
- A post over at Rent Cafe explains how some states are more renter friendly.
- Landlordology has a great resource for figuring out the laws specific to your state.
- If you feel that you’ve been illegally discriminated against, file a complaint with HUD.
- Make sure you have renters insurance! We’re huge fans of with Policygenius.
During this episode we both enjoyed a Russell Kelly Pale Ale by Telluride Brewing which you can find on Untappd. A big thanks to Tiffany in Colorado for donating these beers to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.
Best friends out!
Just a comment about renter’s insurance-
Renter’s insurance is great and I highly recommend buying it! However, I’d like to point out that many renter’s insurance policies have a deductible of around $500. So, if you’re looking to get coverage and are under the impression that it will cover a stolen bike off premise, think again. Depending on your deductible and the cost of your bike, you probably won’t get coverage for a loss like this. Renter’s insurance is applicable to losses that go over that $500. Also, be aware that there are some things that a renter’s insurance policy will not cover. Be careful when you read the terms and make sure you understand what you are buying just so you are aware!
There may be renter’s policies that have lower deductibles, but you’re going to be paying more for those and I’m not aware of those kinds of policies to be honest. I sold renter’s policies for years through State Farm and State Farm did not offer any deductibles lower than $500. But, for a break in, a fire, a flood, or other major loss, renters insurance is essential. I’m also a property manager and recommend it to all of my tenants!