Things to consider while renting a house
Are you looking for a house to rent? Well, don’t make the mistake that is so easy to make, that is, to grab the first house you notice in your affordable price range. Whether you have just entered the world of renting or are a ‘seasoned player’, you need to ponder over a few things before you sign on those dotted lines!
Don’t bother! We will tell you certain important things you should consider while renting a house
- Will the location work for you?
The house you have just seen may be the best ever, but it won’t be worth it if it adds 90 minutes to the daily commute and adds to the travel cost. Hence, it’s important to do the proper homework. Have a thorough check on the commute. Check the accessibility to the most frequently visited places such as the proximity to public transportation, parking, the nearest grocery store, and so on.
Investigate if the location is safe or not. Find out the crime rate in and around the area. Also, assess the growth rate in the locality. If the housing prices have had a significant rise in the recent past, you may expect a similar fate when you would be renewing your lease.
- What is the condition of the property?
A house may look bright and sunny in summer. But, it may be drafty and damp during the winters. At the same time, a nice, insulated house may not have proper ventilation and may be difficult to live during summer. Also, it may have noisy neighbors, need repairs, or may have other such issues. ‘Scrutinize’ the property for issues. If you find any, ask if they will be fixed prior to the start of your tenancy.
- Why did the earlier tenant leave?
Ask why the seller is Selling the House. Also, try to find out for how long the last tenant lived in it. If they lived in for a fairly long period, it will indicate that the house is a good one to live. On the other hand, a longish list of brief lets or a long vacancy may indicate an unpleasant property or some nasty neighbors. It is always worth investigating for such details before you sign the agreement.
- What are the ‘money matters’?
Have all the details about the total rent, cost of utilities, deposits up front, and so on. Additionally, ask the following questions:
- Will there be any non-refundable deposits?
- What are the leasing options- monthly or yearly?
- What will be the payment methods?
- Will there be any subletting policy?
- Will there be any penalty for early termination of the lease?
- Will there be any additional fee for parking, utility etc?
- Who will be responsible for repairs & replacements?
You will have more than enough options for Renting a House. Do due diligence and have a balanced comparison, before you ‘zero in on’ the most suitable one!