Six Things to Consider Before Renting an Apartment

Renting an apartment might not be so easy. Several aspects abound the process and one needs to consider every minute details. Read the following article to know more about things to consider before renting an apartment

So, you just got a promotion and have been transferred to a new city. Well, a new city obviously implies that you have to look for an accommodation. As a migrant it goes without saying that you will look for rental homes in a new city. However, renting out an apartment might not be a cakewalk especially in a new city. Though these days you can avail the facilities of property sites while searching a rental home, there are several aspects abounding the entire procedure of renting an apartment. Let us take a quick look at some of the things you need to consider while renting out an apartment.

Setting a Budget and Finalize the Location

Setting a budget is of utmost importance. You can follow the rule not to exceed 30% of your monthly income. Once you have fixed the budget, you can finalize on the location. While you have moved into a new city, it is advisable that you look for an accommodation that is close to your workplace. This is important keeping in mind todays’ hectic lifestyle. Staying close to your workplace will help you in reducing travelling time to a great extent which implies that you will be left with more time for your family and yourself. Apart from that, covering shorter distance will help you in saving some extra bucks that can be used later.

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Where and What to Search?

In case you want to avoid the hassles of going through a broker, you can check with newspaper classifieds and other small scale publications related to real estate. And then of course, there are property websites that can help you round the clock. Spending some time on a regular basis on these help you learn a lot about the rental market and you will also get yourself a better deal after a comparative study.  You can also get in touch with friends and colleagues in office. Networking will definitely help.

As far as requirements are concerned, jot down your requirements in a paper. Do you want a locality that is a little away from the hustle bustle of city life or a locality that would be close to your workplace and your kids’ school – and other such facilities.

 

Riverview Apartments

By Milestone Management under CC BY 2.0

 

Spend Time in Visiting Properties

Though this may be time consuming, but visiting rental properties before renting an apartment can actually come in handy to a great extent. Visit during different times of the day. Once during day time once definitely after dark. Check the locality well and talk to the neighbours staying there. Find out about your prospective landlord. What is his reputation within the locality? Also find out about transportation and connectivity and most importantly crime rates. Safety and security provided by municipality is another concern for which you should visit properties in person more than once.

Paperwork

Financial documents are of grave significance while signing a bond as a tenant. You will have to complete filling an application form. Be prepared.

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As a tenant you need to furnish details pertaining to your identity and of course profession. Most likely you will have to fill up an application form giving all your details. Your monthly income and details of your credit report will be required fo you to rent out an apartment.

Details of what is Included

Yes, this is of significance. Check what is included in the contract – whether the rent includes heating, electricity, water supply, cable or Internet connection – but it is more important know about the average utility costs of the building, for example, how much maintenance cost you need to pay.

Before Signing the Contract

This is of utmost importance about the entire rental process. Read the document properly, obtain a copy of any rules and regulations and clarify with your landlord about policies pertaining to guests.

So, nest time you in search of a rental apartment, you know what to make note of. Make a check list and follow it meticulously. That will make the entire house hunting process more feasible.

By Riya Dogra

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