Sunday, March 29, 2009

How to Find the Best Housing Option for You

Advice for international students on choosing between dorms and residence halls, private rentals, and family housing You've got the acceptance letter -- maybe even the plane ticket -- now it's time to figure out where you're going to live. Studying abroad is an exciting time, but it can also be stressful as you try to pull together all the details. Here's a look at your housing options as an international student and what you need to know before you sign on the dotted line.
Dorms and Residence HallsMany colleges offer student housing on or near campus. In these halls, you'll typically share a room with one or more classmates, as well as a bathroom and possibly a kitchen. These are great living options, but they often fill up fast. Check with your school's housing or accommodations office to find out what's available and how to apply -- space is often allocated on a first-come, first-served basis.
Questions to Ask:Before you accept a housing assignment, be clear on the total cost and what you get for your money. Are meals available in a cafeteria? Or will you have access to a kitchen? What furniture or household items are provided? You should also find out whether the hall is single-sex or coed, what the general noise level is like, and what rules you'll be expected to follow.
Advantages: On-campus housing is a great way to meet other students. You'll likely be within walking distance of class, and in many cases, you'll pay less than you would for nearby private rentals. Some schools even offer special dorms or floors where you can live with other international students.
Disadvantages:Student housing often closes down over holiday breaks, leaving international students scrambling for temporary lodging. Plus, you need to keep in mind the ups and downs of having a roommate in tight quarters.

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Sunday, March 15, 2009

Decide Between a Fixed-Term Lease and a Month-to-Month Rental Agreement

A fixed-term lease. The most common rental arrangement is a fixed-term lease. The lease states the duration of the tenancy, and when the time is up, you may stay entitled to occupy your apartment only if you renew your lease. One-year and two-year terms are typical, but other arrangements are possible. For example, if an apartment remained vacant for longer than the landlord liked, she might ask you to sign a lease for, say, 15 months instead of the usual 12 months, so that the lease's termination date gets in line with the other tenants' leases. Note that this could be for more than just organizational purposes -- for example, your landlord might want your lease to expire during a peak apartment hunting period, such as during the summer.
A month-to-month rental agreement. A month-to-month rental agreement might appear to be a very short version of a fixed-term lease, lasting just one month. But there's a key difference: month-to-month agreements automatically renew if neither you nor your landlord give notice. So, the main advantage of a month-to-month rental arrangement is flexibility. You don't have to worry about breaking a lease in the middle of a one-year or two-year term, which could be costly. Instead, you can end a month-to-month lease any month you wish by giving the landlord notice (usually 30 days).
Keep in mind, though, that your landlord would have this same flexibility. You'll risk getting a notice of nonrenewal at any time, at which point you would then have just 30 days (or a little more, if the landlord gives the notice in the middle of a month) to find a new home.As you can see, the type of rental arrangement you choose is a key component to consider when looking for an apartment. Make sure you know what you want before beginning your search.
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Tuesday, March 3, 2009

Ten Tips Every Tenant Needs to Know

The way to win over a future landlord? Be prepared
Here are 10 tips to help you be prepared in case disputes occur with a landlord:
1. The best way to win over a prospective landlord is to be prepared. Bringing the following information when you meet prospective landlords will give you a competitive edge over other applicants: a completed rental application; written references from landlords and employers; friends and colleagues, and a current copy of your credit report.
2. Carefully review all the important conditions of the tenancy before you sign on the dotted line. Your lease or rental agreement may contain a provision that you find unacceptable -- for example, restrictions on guests or pets, design alterations or running a home business.
3. To avoid disputes or misunderstandings with your landlord, get it in writing. Keep copies of any correspondence and follow up an oral agreement with a letter, setting out your understanding. For example, if you ask your landlord to make repairs, put your request in writing and keep a copy for yourself. If he agrees orally, send a letter confirming this fact.
4. Protect your privacy rights. Next to disputes over rent or security deposits, one of the most common and emotion-filled misunderstandings arises over a landlord's right to enter a rental unit and a tenant's right to be left alone. If you understand your privacy rights, for example, the amount of notice your landlord must provide before entering -- it will be easier to protect them.5. Know your rights to live in a habitable rental unit -- and don't give them up. Landlords are required to offer their tenants livable premises including adequate weatherproofing; heat, water and electricity; and clean, sanitary and structurally safe premises. If your rental unit is not kept in good repair, you have a number of options ranging from withholding a portion of the rent to pay for repairs to calling the building inspector (who can usually order the landlord to make repairs) to moving out without liability for your future rent.
6. Keep communication open with your landlord. If there's a problem -- for example, if the landlord is slow to make repairs -- talk with the landlord to see if the issue can be resolved short of a nasty legal battle.
7. Purchase renters' insurance to cover your valuables. Your landlord's insurance policy will not cover your losses. Renters' insurance typically costs $350 a year for a $50,000 policy that covers loss due to theft or damage caused by other people or natural disasters.
8. Make sure the security deposit refund procedures are spelled out in your lease or rental agreement. To protect yourself and avoid any misunderstandings, make sure your lease or rental agreement is clear on the use and refund of security deposits, including allowable deductions.
9. Learn whether your building and neighborhood are safe, and what you can expect your landlord to do about it if they aren't. Get copies of any state or local laws that require safety devices such as deadbolts and window locks, check out the property's vulnerability to intrusion by a criminal, and learn whether criminal incidents have already occurred. If a crime is highly likely, your landlord may be obligated to take some steps to protect you.
10. Know when to fight an eviction notice--and when to move. Unless you have the law and provable facts on your side, fighting an eviction notice is usually short-sighted. If you lose an eviction lawsuit, you may end up hundreds (even thousands) of dollars in debt and face a negative credit rating.

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