In the real estate market, you will definitely get overwhelmed with the amount of featured properties for rent. There are a lot of channels nowadays available for free where vacant properties are featured either by landlords or property consultants.
Picking a new apartment is a journey that should be exciting and fun for anyone. It also could be a lot easier for you if you took it step by step. We thought about offering some help by listing some points you should consider and clarifying the main steps you should go through during your journey.
Table of Contents
1- Choose the location
Choosing the location stands on your needs and preferences. You should first list down your demands and what exactly you are looking for, are you looking for a home near your son’s school, near work, or just in the heart of the city?
Having a place in mind will make it easier for you and will eliminate a lot of other options. Pen down your potential locations, cross out the neighbourhoods you don’t like. One after another, you will end up with two or three options.
2- Decide what you want
Delineate what exactly you want in your new apartment. There are many things to think about including the flat size, number of bedrooms, street location, orientation, amenities, and of course, price.
You need to decide if you are looking for a parking lot or a front garden. You need to find out too the style of the building you are looking for. Is it a high-rise building or a low-rise one? All these matters should be settled before setting out the real search.
3- Decide your budget
You need to determine how much you are able to afford for your next home rent. It’s better to dedicate around 30 to 35 percent of your budget to your home month. It’s alright if it’s a bit more than this as long as it doesn’t turn into a burden.
4- Check the rental market in the area
This comes after deciding the area where you are going to live. You ought to check the rental market in this area to come up with the average price. You should do this also to measure the offered price you’re given when inquiring about a certain unit.
5- Look at the reviews
I’m sure the online property listing platforms displaying apartments for rent in your area provide a review feature for users. They can post their reviews about the location, the building, and even the property management company.
After finishing your homework, visit the final checklist of apartments you had. Ensure you have a walk around the whole area, check the electronics placed around the corners, and check the amenities too, if there any.
7- Read the contract
Please read the full agreement before signing the rental contract. Make sure you understand all its twists and turns, make sure all used vocabulary is clear enough and sits well for you. Check how much will be paid for management utilities, deposit, and annual rental incrementation rate.