Looking for an apartment or house to rent is a troublesome task, especially when you are looking for a long-term rental. The real estate market is an enormous market and you need to be careful about what you are getting into. It’s easy to go into panic mode, make a snap decision and put down the holding deposit for fear of losing the property. But you need to pause, assess the property fully and ask yourself (and the estate agent) a few questions;
- Does the location work for you?
The most stunning apartment in the world might not be worth your time if getting there requires an additional 45 minutes of travel time, or a transportation center that only runs occasionally and closes at 9 o’clock or comes at a higher transportation cost to you. Always check your commute at the exact times, and have a look at access to the places you visit most frequently. If you can’t get to your friends in the evening without a lot of trouble, the likelihood is they’re not going to bother trying to get to you either. You need to ask yourself weather where you’re looking at would help you to get to work early or not only. Is the apartment within the center part of town or a business district. Most people factor in the closeness to a hospital or clinic, pharmacy shop, Mobile money vendor, food join or a national landmark before making their decision.
- Can you afford the apartment and its environment?
It’s simple to start your property search with a certain budget, but if you have no luck, try raising it slightly. As a result, prices begin to slowly rise, and you find yourself persuading yourself that you can afford a place that is actually impossible to afford. Calculate the monthly rent, but don’t stop there. Also, find out how much the cost of living will be and inquire about typical expenses. Think about the type of electricity connection, whether there is flowing water within the compound, and the cost of commodities in the area. The sort of home you stay in will also affect your financial stability, if you would be a to save something at the end of the day you or end up tip toeing into your savings.
- Do you want to work with an agent?
these are people or individuals who hold agency over the real estate market. These agents can be a blessing or a headache depending on their forthcomings. since you’re venturing into an unknown space, its best to work with an agent, they know where open vacancies are, and also have an open relationship with the landlords or property owners.
Most importantly, Have extra money for agent fee. Once you are searching for a room, an apartment or a house with an agent, ensure to factor in an agent fee in addition to your budget for rent. Some agent would charge each time you have to see an apartment or room you show interest in although, you may not eventually rent that particular room or apartment. Some housing agent even charge 10% of the amount you would pay to the landlord when you settle for a particular apartment.
- What’s the condition of the apartment?
When viewing a property in the sunshine, it’s almost impossible to imagine that come rainy it might be damp, moldy and drafty. Similarly, when viewing a Nicely finished property, you may struggle to consider that it has little ventilation, or that there are noisy neighbors in the street at all hours. Assess the rental property as carefully as if you were going to be a buyer. If you notice issues, ask whether these will be fixed before your tenancy begins.
- Can I renovate the property?
Some landowners can object if you make any new additions or remove anything from the building. Before you construct something new on the property or demolish something already there, you should get their approval. Ask their permission before you start painting the house even before making that decision.
- Is there a tenancy agreement?
This outlines all of your legal rights and obligations, as well as those of the landlord. The address of the property, the rental fees, the method of payment, the length of the lease, and the obligations of both the landlord and the tenant are also included. You must discuss that with the landlord before applying for the property. Vehemently insist on a tenancy agreement in a written and legally binding to both parties.
When you are renting a place, there are a lot of things to consider. You want to make sure that you get a nice place that is a good deal. That said, there is a lot to think about and some helpful tips to follow. We hope this blog helps in your process of renting a place.