Four Things to Consider when Renting a Flat - Real Estate - LeasingFour Things to Consider when Renting a Flat Â Â by Tony Heywood
in Real Estate / Leasing Â Â (submitted 2011-05-10)
Four Things to Consider when renting a flat
If you are thinking about renting a flat or house you really need to stop and think about a number of things before you even start you search. What is your budget? Could you live in a basement with little light or a top floor flat with four flights of stairs? It is best write down a list of your wants and dislikes before you even start to look. Once you have made the list then you can start the search for your perfect rental property.
Having rented a number of flats and houses these are the top four things I believe you should consider before starting your hunt for a new flat to rent.
The first and I believe most important thing to think about is the total amount of rent that you can afford to pay for any flat or house. You need to be honest with yourself about this and make sure that you don't over commit. You need to consider the amount of money you need to set aside for your utilities such as gas, water, electric and council tax. You also need to factor in your travel costs, food and spending money. You really should leave yourself another Â£150 once all this is taken into account so that you are covered in case of any emergencies.
Once you have set a budget for month rent then the next decision is that of location. Which locations do you favour? Are there any areas that you really don't want to live in? You also need to consider the local amenities, transport links, parking and reputation of the area. Do you know people who have live there now or have lived there in the past that you can talk too? What are the crime statistics like?
Type of Lease
The two most common types of lease are those of agreed term or fixed term tenancies (normally for six months or a year) that are renewed at the end of the fixed terms. The second type of tenancy is that of a periodic tenancy. This is tied into the rent period ever monthly or weekly. The periodic tenancy can thus continue on until one side, landlord or tenant, gives notice.
If you are renting from a letting agency you are likely to be faced with a short hold assured tenancy which is a fixed term tenancy with notice period. The notice period is normally one or two months. Its is important to check this so that you are aware of who quickly you may have to move out if the landlord or agency decides it wants the flat back for any reason.
Size of and layout of Flat or House
Are you looking for houses to rent or an apartment for rent? Consideration needs to be given to the size and layout of the flat. How many bedrooms do you need? Do you want a basement flat with poor lighting as its going to be cheaper? Do you to walk up five flights of stairs? Do you want to share toilets or a kitchen? You need to think about these aspects of the flat before you start to l
Once you have viewed the flat it is always worth talking to the neighbours. Do you get a positive reaction from them when you mention you may be about to become their neighbour? Do they have good things to say about the neighbourhood? Two other tips are asking in the local shops about the neighbourhood and going back to see what the area is like at night time. Some areas change completely at night.
You can always ask for references from the previous tenant's so that you can be sure that the letting agency or the landlords are not cowboys who are going to rip you off.
If you follow these simple steps then you should have a successful rental.