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Published with permission from RISMedia.

When you decide to rent a home or apartment, you will most likely need to put down a security deposit. This chunk of money that you hand over on the first day of your lease is essentially on hold until you move out. However, there are many reasons why you may not get every penny back.

Damage from hanging artwork, broken doors or windows, permanent stains on carpets and scratches on hardwood floors are just a few examples of why a tenant may not reclaim the full amount. Basically, any damage caused by a tenant that is not fixed will be charged against them at the end of the lease. Here are five tips for renters to guarantee the return of their full security deposit:

1. Read Your Lease
Though you may have read through your lease agreement thoroughly when you first signed it, be sure to refer back to it as soon as you decide you are moving out. Read through the entire lease, including any fine print, to see exactly what you are responsible for, as well as any other rules to stay in good standing with your landlord. In general, the guidelines should be straightforward, but others may require you to paint spots, fill nail holes or even have carpeting and appliances professionally cleaned.

2. Document Everything
When first moving into your new rental, take pictures or video of the entire unit. Include wide shots of walls and floors, as well as details of scratches, holes or other imperfections that already existed prior to you signing your lease. Though natural wear and tear are often overlooked or ignored, some landlords will hold a deposit for something you may not consider to be damage or excessive wear and tear. Any updates or enhancements made, with permission from the landlord, should also be documented. For example, if you are approved to change a faucet, take photos before and after, as well as keeping any and all receipts of work done.

3. Take Precautions
Because you do not own this property, you want to be sure that you create the least amount of damage as possible. From hanging artwork with nails to pushing your couch across a hardwood floor, there are many alternatives and ways to navigate living and decorating a rental. Instead of putting a hole in the wall, hang your artwork using hooks with adhesive backing. For heavy furniture, place felt underneath the feet to avoid any potential scratches. Tricks like these will help in maintaining the condition of your rental.

4. Make Necessary Repairs
If a pipe bursts or an appliance breaks down, the landlord will more often than not handle the repairs and payments. However, for smaller repairs and maintenance tasks, tenants should take responsibility. For example, if a lightbulb in the kitchen or on the front porch burns out, be sure to change it before moving out. If you decide to use nails in the walls for decorative purposes, fill the holes and paint over each spot. The landlord will most likely appreciate the small repairs and will be less likely to withhold a deposit.

5. Clean Thoroughly
Lastly, before you give back the keys, give the place a deep clean. Dust, vacuum, disinfect and mop the entire unit. Not only does this show respect for the property, but it also allows for a quicker turnaround if another tenant is planning to move in. Be sure to get in between, under and behind appliances, as well as the smaller details, such as light switches and door frames. Even hire a professional cleaning company to come in and do the work for you. Again, check your lease. If the landlord requires a deep cleaning upon departure, you may qualify for reimbursement.

Published with permission from RISMedia.

Most conventional lenders require private mortgage insurance for borrowers who put down less than 20 percent of the homes value. PMI is a form of insurance that protects lenders from financial losses if a homeowner defaults on a mortgage. PMI can increase the cost of homeownership by several hundred dollars per month, but there are some ways to avoid the additional expense.

You May Be Able to Get Around PMI With a Conventional Mortgage
If you cant put down 20 percent, you may be able to take out a second mortgage or a home equity loan at the same time that you take out your first mortgage. If no individual mortgage is for more than 80 percent of the homes purchase price, you wont have to purchase PMI.

You may also qualify for lender-paid mortgage insurance (LPMI). The cost would be factored into the interest rate over the life of the mortgage, so you would have a higher interest rate than you would if you purchased PMI yourself. LPMI must be paid for over the entire loan term.

You Could Cancel PMI for a Conventional Loan Later
Private mortgage insurance is required for homebuyers who have put down or paid off less than 20 percent of their homes value. Once you reach 20 percent equity, you will be able to ask to have your private mortgage insurance canceled. If you dont make that request when you reach 20 percent equity, the lender should automatically cancel the PMI when you have 22 percent equity.

After you have paid your mortgage for a few years, you may be able to refinance and switch to a new loan. That might eliminate PMI, but you would have to pay fees and closing costs.

Some Lenders Dont Require PMI
You may be able to get a mortgage through a conventional lender that doesnt require private mortgage insurance. If you do, the company may charge you a higher interest rate than a lender that requires PMI.

If you qualify for a loan through a government agency, such as the Department of Veterans Affairs, you may be able to avoid PMI. Federal Housing Administration loans require mortgage insurance, often at rates that are lower than the costs for PMI on a conventional loan. The downside is that you would not be able to cancel FHA private mortgage insurance unless you refinanced the loan.

Weigh Your Options
How much you might have to pay for private mortgage insurance would depend on many factors, including your loan-to-value ratio and credit score. Although most conventional lenders require private mortgage insurance, some dont. You might also qualify for a government loan without PMI. In many cases, you could wind up paying more in the long run without PMI due to a higher interest rate or mortgage insurance payments over a longer period of time. Research several types of loans and compare costs to figure out which would be the best solution for you.

Published with permission from RISMedia.

Appeal to the health-conscious homebuyer with these five features…

Air Purifier

Air purifiers can protect from bacteria and viruses, as well as increase air quality.

Water Filter

Filtration systems remove contaminants and soften water – this means drinkable water from every tap, as well as healthier skin and smoother hair when bathing.

Fitness & Wellness Area

A fitness area makes it easy to incorporate a workout into the day, and a wellness area is always an added bonus.

Clean Products & Materials

Clean building materials and non-toxic products help maintain the well-being of homeowners.

Proximity to Nature

Neighborhoods with biking and walking trails will draw homebuyers who like to be active.

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Your front porch is your homes calling card, setting the stage for presenting the rest of your house in its best light, and creating a memorable welcome for visitors. Thats why choosing the right decor and, more importantly, the right paint color is a critical step.

According to interior design experts, the best place to start when selecting a front porch paint color is by evaluating your landscaping, looking for colors that complement your grass, trees, shrubs and flowers. Also take into consideration any architectural elements that will come into play, such as brick, stonework, metal gutters and roof details. Any color you choose needs to work well with these various fixed elements.

Color experts also advise taking into consideration your homes exposure. For example, a front porch with southern exposure would be better suited to paler shades of paint, while the lighting from a northern exposure accentuates the cooler tones in a color.

Here are some suggested paint colors to consider:

A muted shade of green will tie into the greenery surrounding your home to create a pleasing cohesive look, without detracting from your landscaping.

A deep blue paint will bring a sleek sense of style to your front porch, making your home stand out from the street.

A warm blue will help offset a stand-out yard and garden. Look for colors that are reminiscent of summer skies.

An off-white shade is always dependable and brings a crisp, fresh look to your home. Look for a warm but neutral hue that blends nicely with your homes overall exterior.

A silver shade of grey brings a sophisticated look to your front porch and helps highlight its architectural features. It also works well with just about any exterior color.

Source: Martha Stewart

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