The Fine Print of Renting

There is so much emphasis on the frenzy surrounding home purchases these days that an important, essential service realtors provide is often overlooked — residential rental assistance. Whether you need a rental in-between home ownership, want to rent your primary home because you are relocating elsewhere or want to offer your property as a summer rental...we are here to help.

While professionally managed apartment buildings exist in our communities, many rentals in our area are privately-owned condos and single family homes. These independently managed properties tend to be rented with some standard conditions: 

  • The tenant feels like a pseudo homeowner because they are responsible for the costs of running the household: utilities (oil/gas/propane, electricity, water, sewer tax or septic cleaning, cable/internet), landscaping (mowing, spring & fall clean up) and snow removal. Weekly pool maintenance, heating and opening/closing expenses too. 

  • The landlord frequently covers: real estate taxes, exterior building maintenance and/or HOA fees. 

  • The tenant is typically required to obtain a liability insurance policy in the amount of $500,000 or more. Ask what limits are required by the landlord and/or the HOA. 

  • A security deposit of two month’s rent is typically required for an annual rental unless a tenant is over the age of 62 when, legally, only one month’s rent can be required.

Repair Fees. During the lease negotiations be sure to clarify who is responsible for repair fees. Landlords often require a tenant to pay a certain amount towards household repairs. For example, if an appliance breaks, the tenant may be responsible for up to $250 per incident. A thorough walk-through before taking occupancy is crucial! Check all the appliances and make sure all plumbing and hvac systems are in working order. If repairs are needed, documentation and photographs are important for both parties. 

Pets. Rentals are often advertised as “no pets”. Sometimes that does mean no pets, no exceptions; however on occasion, a landlord may make an exception for a dog or a cat. Making your application more attractive by offering a non-refundable pet fee and/or extra rent may help sway the landlord’s decision.

And then there’s the summer rental

Fairfield County properties make attractive summer rentals for city dwellers, especially those homes near the beach or with a pool. The properties can be listed by the week, month or for the entire summer and are typically furnished rentals. Semantics here are important - is it rented fully furnished or rented furnished? Utilities are generally included in the first case and often billed back to the tenant, or taken out of the security deposit in the second. Pool maintenance is often treated the same way. Do clarify as the air conditioning and pool heater may be simultaneously desired! Landlords often request a tenant utilize their weekly cleaning service (for an additional fee). 

Many summer rentals will include linens, but it is always wise to confirm. No one wants to arrive at their vacation home to discover there are no duvets or towels! Also important to note is whether or not beach chairs will be available for use, if there is a beach access sticker available or how to obtain one. Towns may charge a higher fee for a beach access sticker for summer renters. 

The security deposits for summer rentals can range widely, but an amount equal to 50% of the total rent is common.

KMS knowledge and experience will guide you through the rental process too. 

Do give us a call if we may be of assistance  — your home is our mission!