Top Mistakes to Prevent when Renting for The First Time
There are a lot of first-time tenants out there, and renting a property isn't as simple as it appears. When leasing our first home, there are often things we overlook, take for granted, or just aren't aware of. Here are the most common errors to avoid when renting your first property.
Consult with Existing Neighbors or Occupants
If you go to see a property, the owner will usually accompany you; they will tour you around the house/society and try to convince you with exactly what you're getting in the new house. They do their best to present to you the best of what the residence has to offer, but the fact is that there are always hidden costs. Talking to neighbors or current/previous residents is the best method to figure out what the catch is. This may not be feasible on the initial visit, so it's best to return on your own and speak with these crucial individuals.
Looking for Broker’s Assistance
Engaging a broker to help with finding a property, signing a rental agreement, and negotiating on their account sounds like a decent idea for first-time tenants. The idea is that brokers have done this a dozen times before and would thus do their best for you. This isn't always the case; the commission they receive might range from 15 days to two months of rent.
This implies that they are more likely to seek homes that are more priced so that they may profit more from them. You're much more liable to go over budget and overspend on brokerage. Instead, consider sites like BivocalBirds, which provide similar services for a fraction of the price. The house you find will be more closely tailored to your needs and will have no hidden motives.
Flattered by The Amenities
Most elite complexes now have facilities such as tennis courts, swimming pools, saunas, and basketball courts, among other things, which are valuable additions to any house. The issue is, how frequently will you use them as first-time tenants, and would you really use them? If you're at work, you'll most likely be too fatigued to use it at the end of the day or weekend, so why pay for it? It's best to seek a property with fewer luxuries because the rent will be less expensive; don't get caught up in features you'll never use.
Not Looking for the Damages
Reparations, staining, and damaged things in the home are sometimes ignored by new tenants who are so anxious to move into their new residence. You may be eager to move in and begin living, but be aware that these minor problems will cost you money in the long run.
If you don't disclose these losses with proof before you move in, you'll be held responsible when you leave. In the Rental Agreement, all owners include a provision that stipulates that tenants are responsible for any damages that occur during their stay. This means you might find yourself having to repair things you didn't cause, as well as losing money on your security.
Skip Reading Rental Agreement
You could be encouraged to avoid reading the Rental Agreement and sign it in a rush, similar to how you skip reading the 'Terms of Service' on most websites, services, and so on. This is a resounding NO. The Rental Agreement will cover all of the crucial Dos and Don'ts of your occupancy, such as rental increments, extra costs (parking, etc.), pet policy, and guest policy, among other things. It's advisable to look over the Lease Agreement with a fine-toothed comb personally to prevent being taken for a ride or incurring the wrath of your landlord.
Your first-time renting will be a pleasant experience if you follow these simple guidelines. The more you rent, the better you'll become at detecting and avoiding difficulties. If you need assistance with your first rental agreement, remember that the specialists at BivocalBirds are here to assist you.