5 Tips for finding the perfect rental
Looking at rentals can be very confusing and overwhelming. It is best to focus on a particular area in the city. Once you have narrowed it down to an area you can focus on differentiating the properties by:
- Proximity to transportation
- Where it meets your needs and wants
Is it Pet Friendly?:
Having a pet friendly apartment can make a huge difference if you have a fluffy friend- asking the right questions ahead of time to make sure your pet is allowed into the building is very important in narrowing down prospective rentals. Or if on the flip side you are not a fan of pets or are allergic to them, ask if there are pets allowed in the building.
Focus on your MUST HAVES:
If there are “absolute must haves” on your list don’t compromise them. When looking for a rental there are many different options ranging from in suite laundry, balconies, granite counter tops etc…. By sticking to your must haves list you will be able to narrow down and make your rental search much quicker.
Read the fine print- many landlords will include utilities, extra parking spaces and much more. Even though there is not a lot of “wiggle” room when dealing with a rental often a 50$ per month difference can be justified if it includes utilities or an additional parking space. Fixating on a certain budget may not work for your advantage in the end if over and above you will be spending additional monies on things that are necessities to a home.
Once you find the perfect place be prepared:
Typically a landlord will require first months deposit up front and an additional deposit. Depending on the rental terms you may also be required a NOA (Notice of Assessment), Letter of employment, or a Credit Check. Different rental areas can be very sought after and high in demand. Not having your ducks in a line can in turn hurt your rental application because you will take longer to provide your potential landlord with these items and you could end up loosing your dream property.
There are many different factors which can play part into finding a perfect rental. It is best to have a Realtor review and explain to you the terms of your lease, and different options throughout your lease.
A couple things to note:
Having a roommate is a great way to find a bigger space and to save money. However make sure that you are comfortable with this person- often if there are any damages to the property both parties can be held liable- trust is very important when entering into this situation. Rent with someone you know or if you see a problem with the property report it immediately to your landlord.
Many landlords will require a “pet deposit” for pet related damages. Inspect the property yourself from time to time, if there happens to be natural wear and tear to certain areas throughout your new home let your landlord know. Be upfront and honest about anything that happens to the property to avoid the possibility of having your pet and yourself blamed.
Before conducting any DIY reno’s clear it with your landlord. Make sure you have your landlords permission before you alter the premises, even with something as simple as paint. Altering the home can cost the landlord money and could create a negative relationship. On another note if you are doing reno’s to your new home make sure that they are not to costly. Remember that you are just renting and at the end of the term any improvements you have made to the home is just money out of your pocket and into your landlords.
If at some point you become a “tenant at will” understand the terms. You are able to give your landlord 30 days notice if you are on a month-to-month basis. However the same thing applies to your landlord to you. If you are in this situation have open communication with your landlord and be prepared to make a new move if necessary.
Hopefully these rental tips are helpful! If you have any questions about renting a property or are a landlord looking to have your property set up for lease contact one of our team members today!
The Fresh Approach Real Estate Team with Keller Williams Realty Solutions,
Allana Thompson, Christy D’Oliveira, Kyrsten Feere