Things to Remember before Renting an Apartment
If you can’t afford buying an apartment, and your relatives can’t afford you, the only option you might have to lease one. But finding a suitable accommodation to rent is always an annoying job.
Here we’ll discuss few things you should consider before the big step:
Set a budget.
Calculate how much you can afford to pay, as it should be less than 30-percent of your monthly income. Search according to your budget, however, if you’re finding a bigger apartment in a better area, make sure it’s worth spending the extra money.
Where to search?
Not going to use a broker’s services because of the extra cost the next thing is to look in the newspaper classifieds or on the Internet. Also ask your friends, as they maybe know something in their buildings.
Read before you sign
A common mistake we usually make is not to read a contract before we sign. Obtain a copy of any rules and regulations, and check to see if it includes;
• The beginning and the expiration date
• The rental price and your security deposit
• What are the reasons for which your landlord can terminate your lease contract
• Are there any penalties for moving out of your apartment before the expiration date?
• Are there any responsibilities on your head for repairs and such?
Inspect the apartment
Look for the “hidden” attributes and if there’s any damage ask for it to be repaired otherwise you may be blamed for it later.
What to look for
You like the price, the area is great, but you need to see where you’re going to live. Here are a few things to take a closer look at:
• Pipes: – Be it gas, water or anything else, check for leaks.
• Sink faucets, shower head and water: Make sure water really comes out of the faucets with a decent pressure.
• Electricity and appliances: Check if all the lights or other electric devices are operational.
• Walls and windows: Check the windows to see if they open, close and lock properly.
Negotiate your lease
If everything went smooth, you like the apartment and the landlord likes you, it’s worth trying to negotiate a little bit. If it’s a management company with thousands of apartments for rent it may be harder to negotiate, but if it’s a family and they just need to secure the income each month, you have a green light to close the deal with a small discount.