Are you planning to rent a home or an apartment for the first time? Do you know the ins and outs of the process? If not, we’re glad you came here because this post is exclusively for first-timers. When it comes to finding flats and apartments, we visualize and create imaginative scenarios about living in the perfect spot, where there’s a babbling brook, a reading room, and a garden. Unfortunately, reality can be frightening, and it often hits you hard with numerous amounts of unknowns whenever you are about to do something big. Thankfully, living on rent is an option.
Not having enough money to make a down payment on a house and the capacity to move if necessary are among the reasons to rent. Besides that, the choice involves less commitment than buying a home and less of an upfront financial obligation.
So if you’re considering renting a house, you may want to prepare yourself for the process as nothing comes easy. To tackle these obstacles, you need some insight, and we’re here to give it to you. Listed below are a few things to keep in mind when renting a home.
1. Is Insurance A Necessity?
In some instances, insurance agencies require landlords to validate the property they are renting with a rental dwelling policy. It typically covers physical disruptions and damage caused by lightning, hail, snow, fire, and other hazards. However, this will not cover the cost of your personal belongings. Therefore, some landlords will require you to purchase a tenant insurance policy in which you can recover the cost of repairing or replacing your items that get damaged in the event of an incident.
2. Research The Area Like A Hawk
Think about the area before you decide to move your things into it. Is it near a church? If so, can you hear the church bells ring? Is it near a noisy pub? A hospital? Check all the surroundings before you move in. Other than that, consider the commute. It may be a gorgeous flat, but what’s the use if it adds 50 minutes to your commute and an increased cost for travel? Choose a safe location where there’s not a lot of hustle.
3. Your Budget
Creating a budget is also a massive part of renting a home. You want something you have enough money for, which means you’ll want to figure out how much money you are comfortable spending on renting. Consider how you can cut expenses to afford to rent an expensive home. Once you determine how much you can afford to rent a house, you can narrow down your options further.
4. The Amenities
When choosing a rental house or apartment, ensure that the area’s amenities available satisfy your lifestyle and choices. Examples include:
- Do you require an elevator?
- Extra security or a doorman?
- Does your building have a gym, or is there a cheap gym located nearby?
- Is there a dishwasher, washing machine, and dryer in the apartment building?
- If not, is there a laundromat close?
- Are there shops or restaurants in the community?
Chances are, if you are on a restricted budget, you will have to make a few adjustments, such as enduring a more extended work commute or walking to a laundromat. Whatever the compromise may be, ensure you can live with it before signing the lease.
5. Bills
Bills are an unfortunate reality of renting an apartment/house. As a tenant, you will likely be held accountable for paying all of the household bills. These may include:
- Water bills
- TV license
- Contents insurance
- Electricity or gas
- Landline phone bill
- Council tax
- Broadband bill
- Service charge
- Satellite TV subscriptions or digital TV
There can be agreements where property owners will cover a particular portion of these bills, so it is always best to check with the landlord or agent.
6. Length Of The Lease
Most residential leases last for a year or even six months at a more exclusive rate. However, you shouldn’t assume that your lease will be the same as everyone else’s. That said, find out precisely how long your lease lasts and move accordingly. For example, if you plan to stay for two years, ask your property owner if you can sign up for a longer lease to safeguard yourself from raised rent or modified terms and conditions.
Are You Ready To Sign The Lease?
That concludes our list of factors to consider when renting a house. Just keep in mind that obstacles are bound to come your way; you just need to keep your eyes on the prize. Also, while you’re at it, determine whether you want to rent an apartment or a house. If you prioritize space, privacy, and storage, be sure to consider factors like property maintenance and overall budget before deciding. In the end, it is all about preference, so ensure you make the right call.
