7 Tips That Will Make Renting A Cakewalk For First-Timers
Moving to a new city to live on your own? There are a lot of things that you will do for the first time, including, renting a property for yourself. Being a first-timer, there could be certain challenges that you would face while renting a property but these can be avoided with some careful planning.
MakaaniQ lists five tips that will help make the process of renting your first property a cakewalk:
To begin with, figure out what will be your monthly income or pocket money (in case of students) is. Now, budget yourself by knowing what will be your monthly expenditures including grocery, travel, fees (if any), and other leisure. It is said that 30 per cent or less of your monthly expenditure should be spent on rent. So, look for a property that fits in your budget. Don't go overboard and opt for a property that has a high rent and also, is high on maintenance.
Hire an agent
Still unsure? To choose the best, hire a real estate agent. Pick an agent who operates in the locality you are keen to rent a property in. Tell him about the kind of property you are looking for and the budget you have. The agent will be aware of the properties on rent and zero down on the ones that fit your selection criteria. Moreover, you can make visits with the agent which will make you look like a serious renter. The agent will also help you till you have completed your paperwork and shifted in the new accommodation. What's more, this agent can come handy when you plan to shift from the current accommodation.
Know what you want
While some look for a studio apartment others look for a 2BHK property and some can do with a top-floor single-room construction. Choosing the right property is as much about the layout and space of the apartment or home as it is about the location. Students would prefer to live in an area which is in the vicinity of their institute and houses plenty of students. And nobody likes pesky, nosy neighbours. In terms of the accommodation itself make a list of things you would want, including the choice of floor you would want to live on, balconies, sun-facing, the number of rooms, kind of bathroom, well-equipped kitchen. But make sure the kind of details you are looking at are available within your budget or else, you could do without certain details that are not relevant in the long run.
Give a thorough walk-through
While your agent takes you on a property visit, ensure that you make the most of it. If the property fits your budget and has all the things you need, it's time you look for minute details. See if there are any plumbing issues, lack of enough lighting, broken windows or doors, unmanned locks or any pests or termites. All these minute details can affect your day-to-day life in the property.
Review the rent agreement
And finally, once you have made your choice, take a thorough look at the rent agreement. Look for details including rent, security deposit, the tenure of renting, notice period from both the ends in case leaving the property before 11 months, revision of rent if any among others. Make sure the terms and conditions are agreed upon and are in favour of both the parties. Let your agent help you in this process. Here are things you should check before signing the rent agreement.
Set your moving plan
Know that shifting can be hard work. Hence, make sure you hire the services of packers and movers. Or else, if you have a bunch of friends who could help set up your new home.
Know your rights
As a tenant, know what your rights are. These will help you stand ground in times when things go awry and will also, make you aware about the rights that your landlord enjoys.