What To Look For In A Rental Property
With house prices soaring faster than ever, renting is becoming an increasingly long-term option. Especially in the bigger cities, where prices are at a premium. With that in mind, you’re looking for a homely, practical rental property that comes without problems. In some cases, that’s easier said than done.
In today’s post, we’ll show you what to look for in your next rental property. We’ll look at everything from location, to condition, to the landlord. Remember, you’re looking for a place to call home. And that means finding a fair price with little or no hassle. Here’s what to look for in your next rental property.
Price in the market
Because house prices fluctuate so wildly, it’s not always easy to pin down a fair price. So, our first piece of advice is to do some thorough research on the surrounding location. Using a website like GreyLoft.com, you can get a sense of the market. What’s the average price for a two-bedroom flat? What’s a fair price for a particular location? An estate agent will also help you out, but arm yourself with knowledge first.
With any property hunt, location is the all-important factor. The location you choose dictates the quality of life you’ll lead. It dictates the price you’ll pay, and your subsequent budgeting. Consider how far you’re willing to travel for work, and set a limit on the commute time. That should help you draw up a list of possible locations. Be sure to visit each of them, and get a sense of what they’re like. Are they likely to move up in the world? Or are they deteriorating? Take a look at content.moneyinstructor.com for more information on why location matters.
Are bills included?
Renting is often a minefield when it comes to additional costs and extras. When you’re looking at prices, make sure you know what’s included. Are council tax and utility bills included in the price, or will you have to pay them separately? This information makes a big difference to the overall cost of the property. If you’re looking at an apartment building, is there a service charge for the shared facilities? Make sure you’re getting to the bottom of every payment, and factoring that into the cost.
A responsive landlord
When renting property, you are reliant on the landlord when things go wrong. If there’s a problem with the plumbing, you need to know they’re on the other end of the phone. Remember, it’s the landlord’s responsibility to make sure the property is habitable. If you’re about to sign for a house, ask to speak to the landlord to get a sense of their behaviour.
General condition of the property
You can tell a lot about the property from a first viewing. Simple factors like whether the house is clean is a great indicator. Look out for damp and mould on the walls. While viewing the property, check that all the lights and electrics are working properly too.
Follow these rules, and you’ll find the perfect rental property! Good luck, and let us know about your rental experiences.