Renters, This Is Your Life

Plenty of renters have found ideal situations -- respectful neighbors, responsive and fair landlords, and good conditions in exchange for affordable rent.

One of the best lessons I have learned from writing about all things rental-related is that choosing renting over homeownership is not a rejection of American ideals. Long-term renters often decide to remain so to enhance the quality of their lives by not having to deal with home repairs or potentially risky or poor financial investments.

Despite the transience of many renters, those who are in it for the long haul have proven that becoming educated about tenants' rights and local laws can make for a more satisfying rental experience. Local housing offices are available to answer questions and provide information about landlord-tenant issues. Tenant advocacy organizations are also good sources of information and assistance.

Not only does knowledge help you identify what you should do if your landlord is shirking his basic responsibilities, but it is also the secret to successful apartment hunting. Before signing a lease, find out about such things as your landlord's track record with rent increases and timely maintenance, neighborhood crime statistics, and resident satisfaction.

Also, if, during your research, you see red flags, walk away. It's better to spend more time looking for a decent place than to get yourself locked into 12 months of headaches.

Some other thoughts for bolstering the quality of your rental experience:

· As finances often dictate housing choices, analyze your budget before picking an apartment. Financial advisers suggest that you spend no more than one-third of your take-home pay on housing costs.

· Read your lease before signing it. Read it again, carefully, and understand it.

· Renters' insurance is important. Even if you think your possessions don't amount to much, chances are that your clothes, furniture and electronics are worth paying a nominal monthly fee to insure. Fires and theft are not uncommon in multifamily housing, and, beyond the trauma of losing your things, replacing them adds up.