Planning to rent for the first time? Don’t miss these tips

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September 7, 2018 • Real Estate • Views: 190

If you’re currently someone who is planning #MyFirstRentalHome, you may be a little nervous about renting for the first time. Luckily, we’ve made a list of the top things you’ll need to do before making it official:

Choose flatmates

Most people who are renting for the first time will need to get some flatmates onboard to help pay the rent. This is particularly true if you’re planning to save for your own property or would like to live in a slightly more central area to cut down on the commuting time. Not only do flatmates often give you a built-in group of friends, but you can split both rent and utilities and sometimes even share the responsibility of the lease. Ideally, one of your friends will also need to find a new flat around the same time that you’re looking. If not, you can ask them to spread the word about your flat, or advertise on social media.

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Check the property

It may seem obvious, but you’d be surprised how many people skip this step. If you’re signing a lease, you need to ensure that the property is in a good condition and there are no signs of mold or dampness. Check the windows and make sure there are no gaps in the joins. Look for signs of damage and ensure that any stains on the carpet or other problems are recorded.

Purchase insurance

If you’re planning to rent a property, it’s a good idea to think about getting insurance. Your landlord will hopefully have taken out landlord insurance with HomeLet, but this often won’t protect your personal belongings. I know multiple people who have had their houses broken into, and without insurance, you’ll be out of luck if your brand new TV or laptop are stolen.

Check your contract

Before signing, be sure to read your contract carefully. If you were hoping to Airbnb out the guest room, check if you’re allowed to sublease. Make sure you and your landlord are on the same page about when you can get your deposit back, and what the expectations are around inspections, cleaning, and how much notice they will give if they need to enter the property for some reason. This is also a good time to check with your utility companies so you know how much notice you’ll need to give them when you’re moving out and no longer need wifi etc.

 

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