Renting an apartment is quite common among students and working professionals staying outside their hometown. Whether you are a seasoned renter or a first timer, looking for a new apartment is exciting as well as daunting. Given below are a few things that you should consider before renting an apartment.
Set a budget
First of all, fix your budget. Rents differ from place to place and depend on the apartment's size. Focus your search according to your budget and make sure that the flat is worth spending. You can check out the prices of flats in your neighborhood online and can even consult a real estate agent.
Often, to save money, people rent flats that are quite far from the main city. On most occasions, such a decision backfires. Proper place is of prime importance before moving into a new flat. Ask yourself the following questions before zeroing in on a flat in a particular location:
• Is it close to your workplace / school?
• Is the neighborhood safe?
• Is it close to grocery shops and hospitals?
Proper inspection of the flat
Often in excitement, people forget to inspect it. Look at the closets and the power outputs in each room. Check out the roof for any leakage and ask thoroughly about availability of water 24×7. If the landlord is providing any electrical appliance, make sure it is in a healthy condition.
Find out about the conduct of the landlord
Finding out the behavior of the landlord is as important as renting a flat. On several occasions, their rough attitude makes life difficult for tenants. When you are touring your flat, get a feel of your landlord. You can ask the current renters about the conduct of the property owner.
Read the lease agreement carefully
It is important to read well the lease agreement before signing. The lease duration varies from place to place. While in some places, it is for nine months, in other places it is for a year. Before signing the lease agreement, go through its terms and conditions (T & C). Ensure that you can fulfill all the T & Cs set up by your landlord.
Check out if the following things in the agreement :
• Expiry date of your lease
• Information about security deposit
• Reasons for termination of your contract
• Penalties for moving out before the expiration date
• Specific policy about visitors
Never sign a lease agreement that has an automatic renewal clause. You can never predict the future. You may have to move out to a new city and signing a renewed contract would force you to pay, even when you are not living in the apartment.
Do not allow your eagerness in finding the right apartment result in a wrong decision. It is extremely difficult spending a year in unfavorable conditions. Many people feel that renting an apartment is not such a great deal as compared to purchasing a home. However, still it is a massive decision. The more careful you are, the better are your chances of renting a house.