Advice For First-Time Renters
Category Advice
Are you on the hunt for your very first rental property? This is an exciting time as you venture out to find the space that's right for you, and you will always remember (hopefully with fondness) your very first apartment.
First-time renters will likely have a lot of questions about the rental process, documentation, lease agreements, and other important factors. Spending time doing your homework (like you are doing right now) will make a big difference to your planning, your budgeting, and overall property search experience.
So, without further ado, let's take a look at some of the key factors you should consider when renting property for the first time.
Top Tips For First-Time Renters
Set A Budget
Everything hinges on this part, so it's good to do due diligence when it comes to what you can realistically afford. After all, you won't just be paying your rent, but other monthly and unexpected expenses too. Be sure to consider other expenses like:
- The deposit
- Water
- Electricity
- Groceries
- Internet / Wi-Fi
- Medical expenses
- Petrol / transportation
- Renter's insurance
- Emergencies, repairs, or unexpected costs
Research The Market
Based on your budget, you should now have a good sense of what kind of rental figure you can comfortably afford. Before committing to a rental property, research the local rental market. Look for average rental prices in the areas you are considering and compare them to find the best fit for your budget and lifestyle.
Check Your Credit
Landlords often check the credit history of potential tenants. Make sure your credit is in good shape, and if it's not, take steps to improve it before applying for a rental.
Consult A Property Agent
Once you have narrowed down your budget and potential neighbourhoods, now would be a good time to contact a reputable rental property agent. You could take the digital route and find potential properties on online portals, but an agent will have a number of other rental options for you to choose from. They will also provide valuable guidance and administrative assistance once you're ready to submit your application.
Set Up In-Person Viewings
As with many things in life, things are not always as they appear. Don't rely solely on online listing images. Schedule in-person visits to potential rental properties to get a feel for the neighbourhood and to assess the condition of the property. Look for signs of damage or necessary repairs and bring these to the landlord's attention before signing a lease.
Understand The Lease
Read the lease agreement carefully before signing. Pay attention to terms related to rent increases, security deposits, and maintenance responsibilities. Raise any questions and uncertainties with your rental agent and they will obtain clarification on your behalf. Familiarise yourself with tenant rights and local landlord-tenant laws. This knowledge will help you understand your rights and responsibilities as a renter.
Communicate With Your Landlord
Establish open and clear communication with your landlord or property manager from the start. If you encounter any issues or need repairs, report them promptly. Wherever possible, follow up all in-person communication with a written account of what is agreed between you and your landlord.
We hope these tips will help you ensure a successful rental property experience. All the best!
Ready To Start Your Search For The Perfect Rental? Get In Touch!
With years of expertise in the South African rental market and a deep understanding of both landlord and tenant rights and responsibilities, our agents are ready to help you navigate your first rental property search. Get in touch with us today and let's find you your dream rental.
Author: SAProperty.com
