How many times have you encountered a scenario where you thought the house to rent was the perfect one for you until a couple of months down you faced a lot of problems?
It was said that the City of Vancouver aims to have 5,000 new rental units built by 2021. Having these numbers in mind, what are you doing to make sure that you are selecting the right house to rent?
If you think you can quickly point your finger to an ideal house to rent and that’s it, you own it then think again.
Here are some great Tips for Renters Looking for Their New Home
If you are looking for a great rental, whether you are new to rentals or an experienced renter, there may be a lot that you do not know about this process. When you learn everything about the process, this can make renting your next property a lot easier of a process.
These are some of the best tips that will help you find your dream rental and help you increase your chances of getting the house to rent.
1.Know Your Budget
The most important thing that you need to know as a renter is exactly what you can spend on your property, with and without utilities.
Knowing your budget can help you narrow down choices that fit within your budget before you find a rental that you love but can’t afford. You can expect the rental to cost up to 30% of your income and you need to think about whether or not this is something that you can afford. Before renting out a house the first time just make sure you check and assess your balances.
2. What Do You Need?
It is critical for you to take a close look at what you need as a renter most especially if you are renting out a house the first time.
How many rooms do you need for your family? Do you care about having a porch or balcony? What floor level are you comfortable with as a renter, meaning can you deal with stairs or do you need a ground level unit? Carefully think about this but do remember that a lot of extras will require a bigger budget.
A lot of extras in a house for rent will require a bigger budget. – Tweet that!
3. Location, Location, Location
The location of the house for rent matters.
You may want something that is closer to your work so that you do not have a long commute, that is one of the essential criteria you should keep in mind when renting out a house the first time. You could be looking for a place within a particular school district or some other central location. Try out each neighborhood as if you were test driving a car. You want to make sure that the site meets your expectations and your individual needs as a renter.
You want to make sure that the location meets your expectations and your individual needs as a renter. – Tweet that!
4. What Type of Property Do You want to Rent?
Each property type has their distinct pros and cons to it, so you will want to think about what type of property you want to live in. Rental situations that you can choose from including a single-family home, an apartment in a high-rise building, a unit in a multi-family home, or a townhouse. If you have young children that like to make a lot of noise or if you want dogs, you may want to try renting a home or a townhouse.
5. Keep Your Credit in Check
Having excellent credit will give you better choices in the rental market. You may be able to rent a property with bad credit still, but these options may not be ideal for most people.
Do what you can to keep your credit score up or to repair your credit so that you can get your perfect rental.
6. Do You Need a Roommate?
Can you afford the property on your own or do you need a roommate to help you with costs? Do you know the roommate or is it a stranger?
If you are looking for a roommate, be sure to do whatever checks that you can on them to prove that they are reliable.
If you are renting out a house the first time, here are three questions you should consider asking yourself to decide if the house is for you:
- a. Am I satisfied with all the space I’ll have?
- b. Can I pay the price without a miss?
- c. Is the location convenient for my needs?
The perfect house to rent should pass all the criteria you’ve listed down. Missing one or not thinking about at least one of them might result in frustration or crazy way of living down the road.
Are you renting out a house the first time or been renting and you found a routine? When you are selecting a house to rent, what other factors aside from what we mentioned above do you consider?
Are you a Landlord and is having a hard time looking for the right tenants? Talk to us and let Bolld Real Estate Management help you get the right and proper tenant for your rental!
Let us know by leaving a comment below!