Looking to rent for the first time? There are a lot of things you need to consider before signing a lease.
Whether you are student heading off to university, or a fresh graduate entering the world of work, here you’ll discover the most important things to consider when renting a property.
Research the location
The first thing you need to prioritise when looking for a property, is checking the location. You’ll need to make sure you are within easy commuting distance to your work or university.
However, there are a lot of other factors to consider too when it comes to the location. For example, what is the crime rate like and will you be within easy reach of all of the amenities you’ll need?
Spend a lot of time researching the different locations you could move to. This will help you to establish the best area to invest in.
Check the condition of the property
You should never agree to rent out a property without going to view it. Sadly, not all landlords are honest about the condition of the home. So, you’re going to want to inspect the property prior to signing the lease.
There are a lot of things to look at when you’re viewing the home. Can you see any obvious repairs which need to be taken care of? How old is the boiler in the property? Also keep an eye out for any signs of mould or damp.
Check everything you can think of to ensure you’re getting a good deal.
Consider taking out insurance
Although insurance isn’t a legal requirement for tenants, it’s still a good idea to have it. This is especially true if you are renting an unfurnished property.
Your landlord’s insurance will typically cover damage to the structure of the property. However, tenants insurance protects your personal belongings. This means if there is a fire, or theft for example, you’ll be able to claim for the total cost of the contents affected.
You can find cheap tenants insurance deals which could save you a lot of stress if something does go wrong.
Other things to look for
There are a lot of things to watch out for when you’re renting for the first time. Deciding whether you want a furnished or unfurnished property is one of the main factors to consider. Most people renting for the first time need somewhere furnished as they don’t have the funds to buy a full set of furniture and appliances. So, keep this in mind when looking for a property.
Other things to pay attention to include who the landlord is, whether it is pet friendly and the terms and conditions included in the rental contract.
Renting a property for the first time can be daunting. That is why it is so important to do your research. Knowing what to look out for can save you a major headache later on. The above are just some of the main factors you’ll need to consider before signing that all important lease.