Renting a Home

Renting can have its advantages – like not being financially responsible for upkeep, repairs or costly property taxes and insurance fees. You also avoid the costs associated with buying a home and can enjoy the added flexibility of being able to move at the end of the rental agreement.  

Finding and renting a new home is exciting. It can also be complicated, especially for Veterans when trying to navigate the different programs available to help secure housing and assist with paying the rent.  

Below, we break down some of the things that come along with renting a home and should be considered before signing the lease and moving in.   

Lease & Rental Requirements  

You should ALWAYS read the entire lease before signing. There may be certain rules or clauses, like pet policies, maintenance expectations, subletting, parking, and noise restrictions that you should know before moving in. Additionally, the lease will outline the rent amount, when it is due and how you can pay. You should also review the rules around breaking a lease and getting the security deposit returned once you move out as well. Make sure you do your homework, so there aren’t any unexpected surprises once you’ve settled in.  

Research the Neighborhood  

You don’t want to get stuck in a bad area or one that doesn’t fit your lifestyle and needs – even if it is only for a temporary amount of time. Make sure you research the neighborhood to ensure it’s a safe and convenient place for you to live. Other than just the crime rate, you also want to determine how the daily commute will be and if there are restaurants, stores, and other amenities that are important to you close by.  

Inspect the Property Before Moving In  

It’s a great idea to do a walk through before you accept the keys and start moving in. You don’t want to be held responsible for pre-existing issues or damage that could cause you to lose your security deposit when moving out. Most landlords will provide you with a move-in checklist. Use this document along with time stamped pictures to take note of any issues with the property (holes in walls, stains on carpet, etc.) and submit to the landlord in writing. Make sure you keep the pictures and proof that you informed the landlord of the issues.  

Invest in Renters Insurance  

Fires, theft, leaky pipes, natural disasters – you never know what can happen. Unfortunate events occur in the best of neighborhoods and nicest of rentals. The best thing to do is be prepared. Of course, the landlord is responsible for ensuring the building has proper coverage, but those policies won’t typically cover the loss of a renter’s personal belongings. Be prepared by purchasing your own renters’ policy. A good policy will cover replacing your property and possibly medical bills due to injuries if incurred in the rental.  

Know Your Rights 

Renters and landlords sometimes find themselves misunderstanding each other or in disputes over deposits, rent, repairs and even privacy. It’s important to know your rights and the protections in place to protect you as a tenant. These rights include the right to privacy, a habitable home, the right to quiet enjoyment as well as proper eviction procedures. Every state has different laws so it’s important to know yours. You can find state specific rules, laws, and requirements here.  

Assistance for Veterans   

Although housing issues for Veterans have been on an overall decline since 2010, unfortunately, they are still at around a 50% greater risk of homelessness than their civilian counterparts.   

The Department of Veterans Affairs is committed to ending Veteran homelessness and works with the Department of Housing and Urban Development) to offer programs that provide housing vouchers for Veterans in need of permanent housing. They also offer the VA Shallow Subsidy that will help Veterans afford housing in high-rent communities for up to two years. The VA also offers assistance to Veterans to help avoid eviction.  

We encourage you to look for assistance if needed. You can find Federal Rental Assistance Programs by searching the Consumer Finance Protection Bureau’s database for your area.  Be sure to fully review the details and understand what the assistance you are eligible for covers and what commitments are required of you.   

**If you are a veteran or know a veteran who needs emergency housing assistance, please contact the  National Call Center for Homeless Veterans . Help is available to Veterans in need of immediate assistance to avoid eviction or loss of housing. Trained VA counselors are on hand 24 hours a day, 7 days a week to help. You can reach them at 1-877-4AID VET or (877) 424-3838. 

We hope these tips have been helpful to you and help to make your move seamless and as stress-free as possible. Having adequate savings on hand before making a move is important. If you need motivation to save for an upcoming move, take the Veteran Saves Pledge. We’ll send you tips and guidance along the way that will help you meet your savings goals.