Important things to know before renting out a property

Renting a property is just as big an investment, as compared to buying one. There are many important factors to be considered, even if your stay is temporary. Especially when you are moving in with your family, you have to ensure the following.

Area: The most important and first factor to consider is where are you planning to move exactly? Are you renting a nice quiet house in the suburbs where your kids could ride their bikes on the streets peacefully or are you renting an apartment in the city, because it is close by to work. Either way, make sure you can enjoy a good night’s sleep!

Basic amenities: No matter how good or great the neighborhood and your new house is, make sure you do a thorough inspection before agreeing to anything. The house or apartment you are renting out might be a couple of years old, so first impressions are not always the best impression when it comes to property. You have to take your time and ensure everything is just the way you need.

Pet’s or no pets: Check if the said property or apartment for rent is pet friendly or not. Some home owners are very particular about keeping pets in the house. Make sure you don’t move into a place and then realize that your furry fuzzy little friend was not welcome in the first place.

The agreement: Read every clause in the rent agreement which you are about to sign, make sure you understand the terms and condition. If needed, it is advisable to have an expert or attorney check out the draft before making it official. Check the advance money to be paid and ensure both have arrived on a reasonable rent arrangement.

Also if you do not like some of the terms and conditions of the agreement, you can always challenge and question them. The clauses in any agreement should be such that they benefit both parties to the agreement.

House v/s apartment: Renting a house and renting an apartment are two not so different things. In the city, someplace like New York, you will have to settle for an apartment and one which also fits into all the above-mentioned criteria.

Consider all factors like distance from work, shopping and grocery facilities around, good school and education systems and more. Renting requirements will differ for every person, but these are the few basic points which can be kept in mind to ensure you don’t end up in a place you will grow to resent.

Real Estate

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