8 Things To Consider When Leasing A Property
Category Advice
Thinking of renting a property? There are several aspects which need to be carefully considered when choosing a rental property. It is important to conduct thorough research before signing a lease agreement as this will ensure that you are prepared for any issues which may arise. Here are a few pointers which will aid you in making an informed decision:
1. Research the neighbourhood
Before choosing a property, it is important to research the surrounding neighbourhood. Making a list of things which are important to you is a highly beneficial way to start as this will allow you to compare potential neighbourhoods to the criteria on your list. Find out if the area is safe, whether the area has easy access to transport and amenities such as: shops, healthcare and restaurants.
2. Be Prepared
When you meet with prospective landlords, be sure to have all your documentation in order as this will leave a good first impression. Providing new landlords with: Identification, proof of employment, bank statements, references and your credit reports will save them time and effort. This could be the start to cementing a solid foundation of respect with your new landlord, which will make the leasing process much smoother.
3. Read your lease carefully
It is imperative that you carefully review each detail of your lease before signing it as this can help avoid any animosity further down the line. The fine print and details such as your rental amount, the date on which the rent is due, repairs and other financial considerations need to be thoroughly addressed. In addition, your lease should also illustrate the details of your security deposit, such as: what may be deducted from it and when it may be returned to you.
4. Privacy
Privacy is one of the most common disputes between landlords and tenants. In order to avoid any misunderstandings, it is important that you become familiar with your rights to privacy; for instance, the amount of notice that your landlord must give you before entering the property.
5. Sharing a property? Be cautious.
If you are sharing a property with other tenants, you need to be careful - especially if you are all signing the same lease. By cosigning a lease, you make yourself liable for their share of the rent as well as your own. More so, you are liable for any damage that they may inflict on the property. It is crucial that you sign a lease with people whom you can trust.
6. Inspect the property first
On your first day of tenancy, be sure to inspect the contents and condition of the property in comparison to the inventory list. If you happen to find that certain things are damaged or in poor condition, it would be in your best interest to notify the landlord immediately in writing and keep a copy of the letter. This will help you avoid any disputes regarding the deposit at the end of your lease.
7. Keep communication open
Talk to your landlord and establish a friendly relationship with them.This will not only make the leasing process more pleasant, but if you and your landlord have a common understanding, small issues can be resolved without a dispute.
8. Moving out?
When you leave the property, make an appointment with your landlord or the rental agent to look over the condition of the property and be upfront and honest. This will help ensure that there is no ambiguity regarding the rental deposit. Leaving the property on a positive note will be in your best interest as your landlord may provide you with a good reference.
Acquiring a rental property can be somewhat perplexing at times and it is important that you have a holistic understanding of the standard procedures as well as your rights as a tenant. If you require any assistance with acquiring a rental property, contact one of our agents and we’ll be happy to assist.
Author: Dormehl Property Group
