Wait! Buying Vs Renting House - Which is more profitable? - The Financial  Express

Finding a rented house that suits your needs and purpose is a stressful task. But the benefit of being a tenant is that you don’t have to worry about any expenditure on the home improvements or pay the expensive property taxes on the rentals.

A tenant can move to a new house at the end of the lease term. But the renters should be mindful when finding a suitable house that fulfils all the requirements. Here are some of the important points to remember while finding a new house.

Do thorough research in the neighbourhood

When you have made up your mind to find the house in a particular area, ensure to talk to the locals to find the details about the safety and convenience of staying in the place. Check for the crime rates. Find the details about the local amenities including the markets, restaurants, gas stations, and public transportation facility, parking rules, stores, parks, gym, and other related facilities. Moreover, you should verify if these facilities match your needs. Demographics, real estate information and quality of life factors should be taken care of to ensure that you choose the right option.

Ensure to read through the terms and conditions mentioned in the lease

Make sure to go through the lease agreement before signing the documents. You may even take the help of the realtor or attorney to look over the documentation to ensure everything is accurate and fair to agree. Read through to find the rules and clauses that the owner mentions. Check for the maintenance details mentioned, the payment agreements, security deposits, and guidelines on breaking the lease before signing the official agreements.

Inspect the house for any damages

Check for any pre-existing damages and make a note of all the details. Take photos and share them with the house owner as proof. This helps in being on good terms when you leave the house at the end of the lease terms.

Some landlords will have a move-in/out checklist that includes all the features, special facilities, and damages. The proper inspection and documentation help in not having to pay for the damages that were already present.

Home renovation, repair and maintenance

Ask the landlord for any repair, maintenance or home improvement that you may need in the house. It is also highly recommended to perform a deep cleaning of the property before moving into the house. Vacuum clean the house, clean the window sills and cut the bushes to ensure the house is ready to be moved.

Set up a bill payment system

Maintain a bill payment system in order not to forget the payment or ending up with late payment. Make a note of the payment dates in the mobile calendar and set a reminder to get it paid on time. Set up the automatic payment system if the landlord accepts the rent amount online. Setting up an online payment mode will ensure not to forget the payment of rent on time. Similarly, utility bill payments, such as water and electricity can also be set up through bank transfers.

Dowen Estate Agents can help in finding a house that matches all your requirements. We act as the managing agent and the point of contact for the landlords and the tenants.

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