Renting a property is a big commitment. You are signing a lease that requires you to pay every month for a property that you will not get to own. It is therefore a good idea to be as switched on as possible, to ensure you get the best value for money from your lease, as well as not end up living in something that is not suitable for your needs, or is heavily over priced. Millions of tenants each year pay more for a property than it is worth, or live somewhere that does not actually service their needs. How can we avoid this? This article takes a look at some of the things you can do, as a potential tenant, to make sure you get good value for money, and find the right property for you.
– Make sure you take your time when you are viewing a property. What condition is the furniture in? Is there damp? Is the bathroom suitable? If a property is dirty and in a poor state of repair, it is not likely to have been very well looked after. Perhaps if you can arrange a very good price it will be a good property for you. However I would always be wary of properties that are not maintained well.
– Do a full inventory of what is in the property yourself. If you do this it saves you from arguing with the landlord at a later date that something is missing that was not there in the first place. E mail the inventory to the landlord, and make sure they e mail you back agreeing to what is on the list. They are more than capable to do their own inventory to match it up with yours.
– Pay for a survey. Surveyers are not just useful for buying properties. They will make sure that the rent is correct for the area, and also check the property out and make sure it is fit to live in. This will be money well spent, and can give you plenty of ammunition when discussing price.
– Negotiate well. Rental prices are not set in stone. Any money you get off your rent stays in your pocket. If there are issues with the property, yet you still desire to live there, make sure those issues are reflected in the rent. I advise offering at least 10% under the requested for amount regardless of the condition of the property. If a property is empty, the landlord will want to let it quickly. A firm offer is worth more sometimes than a possible one. Take advantage of this when you are negotiating.
– Make sure you tell your landlord, or property manager of any problems with the property, as they arise. You should log these problems, and make sure you note how long they take to be resolved. A month is plenty of time to get most things fixed and working again. Any longer than a month and you may need to apply some legal pressure to get things moving. The lease should indicate what the landlord is responsible for looking after.
– When your lease is up make sure you get your deposit back. Your landlord should put in writing any reasons why you are not getting your deposit back. You need to be honest with yourself. Have you left the property in the same way as you arrived? If you have then the deposit should be yours.
These are just a few tips to keep you from wasting money on overpriced rental properties, or living in conditions that are not acceptable. Be aware that there will always be other properties you can rent if the one you are looking at is not right for you. Do not be pressured into making the wrong choice.