Renting your first home can be a very liberating and exciting experience. It can also be a stressful and daunting one. However, with a little planning and research and a great agent behind you, there is no reason why you can’t have a hassle-free and happy moving day. In this article, we’ll take a look at the things you need to know and prepare for before you are handed the keys to your new home.
Remember when your teachers would say doing your homework was important? Well, they were right, and that advice still applies outside the school gates. Thanks to the technology we have available today, there is no excuse or reason not to do some thorough fact-finding before renting your first property. From checking out the local area to finding the perfect property, all of these tasks can be carried out online.
When renting a property, it is always important that you choose a property that you can afford. Living beyond your means could land you in hot water further down the line. Unpaid rent or late payment could mean you are evicted or that you find it hard to get a favourable reference from your landlord. In addition to your monthly rental costs, also be aware of any hidden costs, such as utility bills.
Most rented accommodation requires a security deposit to be put down before you can move in. This down payment is usually kept by the landlord to pay for potential damage that is caused to the property while you are living there. If you decide to move to another property, a final inspection will be carried out by the landlord and your deposit paid back to you if everything is in order. Details of deposits together with their terms should be included in your tenancy agreement.
Before you agree to move into a property or part with any money, it is important to have everything drawn up in writing. This will ensure you know exactly where you stand as a tenant. A tenancy agreement is a legally binding document that details the rights, rules and regulations that you and your landlord need to agree on. It is essential that you understand the document before signing on the dotted line. If there are any areas you are not sure of, be sure to take them up with your agent or the landlord directly.
These are just some of the things you should be aware of a first-time renter. If you have any questions about finding the right property or your rights as a tenant, our team would be delighted to help.