Before You Sign a Lease: 4 Checks That Can Save Your Deposit
Renters signing a lease should confirm four things before committing: the full upfront cost, whether renters insurance is required, the condition of the unit, and building-specific rules, according to rental experts and a first-time renter who documented the process.
A StreetEasy survey cited by The Spruce found the average upfront cost to move into a rental was $10,454 in 2023, up 29% from 2019. That figure makes pre-signing diligence a financial issue, not just a paperwork one.
What the Upfront Bill Actually Includes
Casey Roberts, StreetEasy's Consumer Trends Expert, told The Spruce that first month's rent and a security deposit are common nationwide, but other fees vary by location. These can include a broker's fee ranging from a full month's rent to 15% of annual rent, last month's rent, a move-in fee, a pet deposit, or an amenity fee. Roberts advised asking what will be due upfront before even touring a rental, so applicants know whether it fits their budget and can apply quickly in a competitive market.
Insurance and Documentation
Emily McDonald, Zillow's Rental Trends Expert, said renters insurance is often required by landlords, yet half of renters report not having a plan. She advised checking the lease for any specific coverage amount before shopping for a policy.
McDonald also recommended photographing existing damage during the tour. The article's author, who had recently signed a first lease, asked for a second walkthrough and recorded video of imperfections as proof for move-out. McDonald said documenting condition, even small issues like loose cabinet handles, helps both renter and landlord agree on the property's state and can ease the return of a security deposit.
Roberts added that renters should review policies on subletting, breaking a lease early, utilities, smoking, decorating, outdoor space, and trash disposal. She suggested negotiating lease language on early termination if it is not already included.
The source does not specify which markets the StreetEasy survey covered or how the broker fee range was calculated, so renters outside those areas should verify local norms.
Before You Sign a Lease: 4 Checks That Can Save Your Deposit
Rental experts and a recent mover outline four pre-lease checks: upfront costs, renters insurance requirements, documenting the apartment's condition, and building-specific policies. A StreetEasy survey found the average upfront rental cost reached $10,454 in 2023, up 29% from 2019.
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