Things to Consider Before Taking a Rented Property

Trying to get a new property? Do your research. Pictures don’t exactly tell the whole story of the place you’re looking at and read the description thoroughly to have an idea of the places you’ve in mind. When you read through, you will know what to foresee in the property, various places or land for sale do have similar descriptions so the best and advised way to go is to be there physically to view the property.

When you view a property physically, there are “key” things you need to know and consider before you draw the final conclusion for the place. In this article, we’ll discuss 5 “things” you need to consider before taking a rented property.

  1. Research the area

The property might look so nice from the picture you see and it might be great but you need to know about the area, you need to know the population density, if the house is close to the road or any noise pollution, you also need to know if the area has an hospital close by, a park, a school, a library and other things you consider necessary for your living.

  1. Physical inspection

Before taking a rented property, it is crucial to have a good look at the place. You need to know if the furniture’s or wood works are in good condition, likewise the electricity, sanitary fitting and plumbing. A good physical inspection of the property before you take it, will help you know what needs to be fixed by the landlord and if the property is in “good condition”. This also allows you to avoid any confusion that might take place between you and the Landlord when you take the place and have something to say about the property.

  1. Down payment

Find out how much you need to pay in advance for the property, it usually ranges from 5-20% depending on the value of the property but it is not fixed. It is manly one month in advance but some take for 6 weeks and some don’t so you need to discuss this with the property owner so you know what you’re signing up for.

  1. Understand how rent increases work.

If the tenancy is within a written fixed-term, then the rent cannot be lawfully increased without the agreement of the tenant. Rent can be increased by 5% every 12months there about but it needs to be communicated for future references. If you don’t agree with the terms the property owner is referring to, you can voice it and let it be known or rather still contest the rent increase, there are laws relating to this.

  1. Know if you can retouch the property

It is necessary to find out if you can retouch the property to suit your taste, most landlords don’t want their property touched so you need to consider this. If they don’t, let them know what you need them to work on before you take the property. Some just allow you repaint and change furniture’s but you wouldn’t know until you ask.

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