Finance Blog

557

Things to Keep in Mind when Renting a House

SHARE
, / 446 0

It is very important to manage your personal finances in a way that you never need to take personal loans. However, there are times when you have to take these loans to meet planned or unplanned expenses. Nevertheless, the rule of the thumb is to be extremely cautious and alert when seeking any personal loans.

If you are going to rent a house for the first time, there are quite many things that you need to pay attention to in order to remain safe from property scams and frauds. You must know how to find the right property, the things to consider when renting property, dealing with different types of landlords and other similar things.Image result for Things to Keep in Mind when Renting a House

Here is a brief description of the things that you must keep in mind when renting a house:

Take reviews: It is very essential to take reviews from those that are moving out of the house you intend to rent. You can ask them their reason of leaving the home and about any complaints or grievances that they had against the landlord or the property in question.

Rent from an accredited landlord: It is safer to rent a home from a lender that is accredited under the Residential Landlords Association or National Landlords Association as these associations follow a grievance procedure in case of a dispute. You can check whether the landlord you intend to rent a home from is a member of these associations or not by going online.

Read the agreement carefully: It is very important that you read the fine print in the tenancy agreement. In case of any doubts regarding any clause or statement, you must seek professional advice. You must not trust the landlord or the agent blindly as they could be cheating you on several aspects.

Know about the costs: It is extremely necessary to know about all the costs pertaining to the home that you about to rent. Are there any maintenance costs? Will you be responsible for the utilities, water changes and other house taxes? Knowing about all these costs before hand will save you from any surprises and any disputes later on.

Rent increase clause: The issue of increasing the rent should be clear between you and your landlord. Any condition decided between the two of you should be on paper. The tenancy agreement must have all the details of the rent increase. The increase must be fair and in tandem with other similar properties in the vicinity.

An offer too good to resist: If an offer seems too good to be true, then do not get lured by it. If the offers are coming online, you need to be extra careful as there might not be any physical location to trace the landlord. The offers that seem to be good generally carry very low rents, do not have a landline, have photos that look extremely good and the language and grammar used on the advertisement is poor. You must be very cautious of such offers and stick to a brick and mortar letting agency.

You must remember that being cautious is always better than being duped.

Leave A Reply

Your email address will not be published.

*