Renting your residential rental property for the first time can be both an exciting and daunting experience. Whether it is a house or an apartment you want to rent, the decision requires a lot of thought and consideration. And as with all big decisions, you need to be well-informed before making them.
However, while the benefits are many, renting your home comes with many challenges as well. When appropriate steps are not taken, you may land yourself in a lot of trouble. Therefore, if this is your first time renting a home, here are several things you need to take into consideration before taking the plunge.
Research the Area
Do plenty of research into different areas and consider whether the one you have selected is where you want to rent. For example, if you are looking for houses for rent in the Carlingford area, some of the things you should consider are whether the property is near a hospital, work, close to a noisy area or pub, etc.
Considering the pros and cons of each location will help narrow down your search.
Create a Budget
This is a huge part to consider when renting your first home. Determine the amount you are comfortable paying for the home and set that as your budget. This will allow you to narrow down your search as well.
If you have selected a home to rent and if it fits your budget, you must clarify the rent price. Although, for the most part, utilities are included, in some cases, they are not. Thus, you might have to consider how these extra charges will add to the rent and if they fit your budget.
Who is Responsible for Maintenance
This is another consideration you need to make and clarify with your property management service. Maintenance includes home repairs, which are typically paid for by the landlord. However, if not, then that may lead to unexpected costs. For this reason, you should ask the landlord about this before signing the lease.
Consider if Insurance is a Requirement
Some property management services hired by owners require you to purchase your own renter’s insurance policy to cover the cost of damages from accidents. Before signing the agreement, clarify with the landlord if insurance would be covered by you or them.
Negotiate Lease Terms
Not many renters are aware of this, but while negotiating on the price is not an option, you can still negotiate on the lease terms. Although it largely depends on the landlord, if you are serious about renting the property, you will be able to negotiate on specific terms.
Lease Term Length
Do not assume that your lease term will be the same as everyone else’s. Find out and clarify the lease term length with the rental property management service beforehand. If you plan on renting for a long time, ask if you can sign a lease with a longer term to prevent yourself from raised rent prices and updated terms and conditions.
Prevent Unexpected Increase in Rent
When you rent your first home, you need assurance that you will be staying there until the lease expires. This means that you need to clarify with your landlord whether the agreement will protect you from an increase in rent. Moreover, you need to make sure that the agreement does not allow the landlord to evict you if they want to sell the property.
After clarifying everything and agreeing on all the terms, it is best that you put everything in writing. This way, you will not forget the terms either, and you and your belongings will stay protected throughout.
To have an enjoyable and seamless process in finding houses for rent in Carlingford area, we encourage you to consider using professional services, such as Harcourts. With our experienced team of agents who will always put your needs first, all your real estate needs will definitely be met. Contact us today!
Harcourts Carlingford, We are real estate agents in Carlingford, we cover all aspects of real estate from commercial or residential property for sales, auctions, property management, and commercial leasing and have a proven track record of success.