Whether you’re saving money to buy your first home, or want to try living in a big city for a few years before settling down, there are many benefits to renting. For example, it’s a great way to experience living independently, without the responsibilities of full ownership.
As a result, it’s no surprise that 77% of adults in the US prefer to rent. However, as the demand for rental properties is increasing year on year, it can be hard to find the right fit for you, your roommates, or your family.
With that in mind, here are some top tips you can use to find your dream rental property.
Know what you’re looking for.
The first step toward finding the perfect property for your needs is to understand your needs. For example, there are various things to consider, such as:
- The number of bedrooms/bathrooms.
- Property size.
- Property location.
- Amenities and fixtures.
- Rental costs (including/excluding bills).
By narrowing down your expectations, you’ll find it easier to seek out houses or apartments for rent in your local area. Of course, you should also ensure that when searching for properties, you go through trusted providers.
Understand your budget.
While it is possible to fit big dreams into a small budget, you must be realistic when deciding how much rent you can afford each month. Most experts suggest that you should not spend more than 30% of your gross annual income on rent, as you may otherwise find it hard to manage your expenses. As a result, you should assess your finances and put together a clear budget ahead of time. Remember, if you view a property that you view is out of budget, you could always try to negotiate the price with the landlord.
Furthermore, if you view a property that isn’t quite to your taste, you can always carry out some non-permanent home renovations during your time there. For example, you could install peel and stick wallpaper to brighten up a dull space, before removing it at the end of your tenancy. You should also remember that places often look different once you’ve moved your own furniture and belongings in.
Attend a viewing before signing a contract.
During the COVID-19 pandemic, many property owners, agents, and landlords began offering virtual viewings of properties to help people stay safe while property hunting. While this can be useful, it’s beneficial to view a property in person before signing a contract. This is because it helps you to get a better feel for the space. It also gives you the chance to check for any warning signs that you should not rent out the property, such as unpleasant smells that indicate the presence of mold.
Attending a viewing in person also gives you the chance to meet landlords face to face, so that you can ask them pertinent questions relating to your tenancy. On a similar thread, they can ask you similar questions. This can help you start your landlord/tenant relationship off on the right foot, making for a more peaceful tenancy overall.
