NEVER RENT YOUR FIRST APARTMENT BEFORE CONSIDERING THESE FACTORS

Have you decided to rent your first property? Before you make your choice, you should through the below information considering all you need to know before renting your first apartment. This article has important tips and hints you should take into consideration before proceeding with your first rental apartment. 

BUDGET 

Before proceeding looking for an apartment, you need to determine your budget. In other words, what you can be comfortable paying on a monthly basis. You will need to consider other expenses such as maintaince for building, compound as well as porter salary if any.   

EXPENSES AND COSTS 

When renting an apartment you should consider that it will include other fees such as brokerage fee, a security deposit and utility payments or further known as personal consumption bills such as internet subscription, electricity, gas, water and international calls if any. 

The security deposit is one month rental value which shall be refunded once the property has been returned in the same way it was once given.  The brokerage fee may vary but generally from the range of 10 percent of the contract duration. 

FACILITIES AND AMENITIES

Once you decide searching for an apartment, it is necessary to know what you really need and what you really want. In summary, what are the certain facilities and amentities that you are hoping to having in your first rental apartment? 

You will need to consider the location before looking towards apartment features and amenities. 

• Is the property near work? 

• What is the distance of commute?

• Is there public transportation nearby? 

• Is the apartment near recreational areas, educational institutes and places of worship?

Once you have short-listed your options to a location and have gotten familiar with the neighborhood, you will then focus on the features and the amenities of the building. You should take into consideration how many bedrooms you want such as a studio, two bedroom, three bedroom or above apartments. 

If you are looking for a 2 bedroom apartment, would you also need two full bathrooms? 

(Full bathroom is a bathroom with a shower otherwise it is known as a guest bathroom) 

Many buildings may not have elevator acess, you will need to take into consideration the importance of the floor and if it would be comfortable for yourself and family. 

You will also need to determine the importance of having a balcony, modern kitchen, washer and dryer which is known to be a necessity to most households. Most buildings shall be constructed in such a manner that there is building safety and possibly other features in case of any emergency. You need to consider the importance of apartment complex amenities such as a shared pool, gym and spa area. 

INSPECT THE  RENTAL APARTMENT 

Ask your hired real estate agency to see the rental apartment that you have chosen to view, because you might find the apartment is great from the interior but the exterior features may seem not exactly what you are looking for. 

Inspecting the rental apartment will give you a better aspect of the location and the questions listed above. You will understand the building and the condition from the hallways and the floors. A dirty hallway with trash all over the place can be a sign of irresponsibility from other tenants and residents which you should take into consideration will be your neighbors in the future. 

If you are viewing the property at night, it will give you the opportunity to see the lights and security and if you consider yourself and your family safe after hours which is something you need to know for safety purposes.

Inspecting the rental apartment will remove if not but all surprises that may occur. 

THE RENTAL LEASE  

Take your time to review the rental lease agreement before making the choice to sign.  

Majority of rental lease agreements are standard issue, but each landlord may have their own specific terms and conditions that you must follow to keep a healthy and ongoing relationship. There are certain terms and conditions such as:

• No smoking allowed in the premise 

• No pets allowed in the premise

• No adjustments to be made on the walls or bathrooms

You should confirm all the expenses, payments and costs that were provided to you either through the landlord or the real estate agency verbally. 

A rental lease agreement proves the responsibilities of both parties. For example, you can rent a property with a co-worker and in the case that they leave, you will remain fully responsible for the obligations and expenses and payments mentioned in the rental lease agreement. 

SECURITY DEPOSIT

 All landlords require a security deposit in advance with rental payments due to any damages that may occur throughout the premise from your behalf during your stay. 

It would be best to be assured to check the property for such damages and document these concerns to be able to understand the issue at hand. If it is a repair that needs to be made on behalf of the owner or a recurrent damage that needs to be stated so it will not be taken from your security deposit after the rental duration has been completed. 

A landlord would usually deduct repair costs, damages and any outstanding bills if any after your contract duration has been completed to be able to give you the security deposit in full. 

The security deposit will not be refundable in the case that the contract duration is not completed and the contract has been terminated early on behalf of the tenant. 

You must also know that the landlord is not responsible for the case of personal items/belongings in the event of losses that is why it is very important to inspect the apartment and to check the security measures and precautions if any.