Moving out of a rental requires different consideration than moving out of a home you own. Keep in mind a few of the procedures you should follow when preparing to move.

1. Notify the Landlord of Your Move

Most landlords require renters to notify them in advance of a move. Renters often must make this notification a set number of days before leaving. This may help the owner prepare for the home vacancy and any financial changes that may arise. If a renter doesn’t notify their landlord of their anticipated move, the landlord often can charge the renter excess move-out fees. Your lease should stipulate proper notification procedures for moving out.

2. Settle Outstanding Costs

Renters may still have outstanding debts to settle with their landlords. They may have to pay prorated rent, cleaning fees or other maintenance costs when they move out. Leases usually specify costs to a renter after they terminate their lease.

The renter may also be able to reclaim security or maintenance deposits on hold with the owner. However, owners may or may not be able to return these deposits in full following a renter’s departure. Renters should check with the property owner and their lease to see what costs they may owe.

3. Transfer or Terminate the Address and Services

Most renters know they need to change their mailing address following a move. However, they often have to terminate other services in their rental home as well.

Renters often pay some upkeep and utility costs separately from their own rent. These extra costs may include electrical or water bills. Renters should therefore terminate their utility service at the old rental. They can often transfer these services to their new home for free or a small cost. Failing to transfer services may result in fees or additional costs for the renter.

4. Review Your Renters Insurance

Renters insurance often covers liability, property damage and other risks in the rental. Most renters carry this form of insurance. Renters need to consider what to do with their coverage before they move out of the property.

These policies usually only apply coverage to the specific residence on the plan. For this reason, when they prepare to move, renters should adjust their coverage. Renters need to update the address on the policy. They may also decide to adjust the coverage levels to better meet the cost risks in their new home.

Do you need Albany renters insurance? Let Ten Eyck Group help. Call us at (518) 464-0059 for a fast, free policy quote right now. 

Posted 8:30 PM

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