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4 Things you should look out for when renting an apartment

4 Things you should look out for when renting an apartment

Renting a home is an option that many people look into as an alternative to buying a home. It is a great option if you do not have the financial stability required to purchase a home, or if you have a job opportunity in another city and do not want to invest in property just yet. When looking for a home to rent, there are some aspects you need to take into consideration. Looking for an apartment to rent can be overwhelming if you do not have a clear checklist on hand to guide your search.

1. Amenities

When browsing apartments in different neighborhoods, you need to figure out what kind of amenities and facilities will be available for you as a tenant. These amenities may include services such as a gym or indoor pool, as well as nearby facilities such as stores, schools, or doctor’s offices. If you are interested in having a social life, you may also want to research what kind of social activities are available and whether this will affect your living experience in any way. For example, you may want to look up nearby restaurants and other places for socializing that you will frequent when you move to that neighborhood.

2. Price

Rental prices differ from one place to another depending on several factors. Size is one of the main factors influencing price. If you plan on renting a small studio, then it will be much cheaper than renting a bigger apartment that boasts several rooms. Another factor is the neighborhood and city the property is situated in. Some cities are much cheaper than others, depending on population and how urban it is. For example, renting an apartment in DC is much more expensive than in Vancouver. This is because the average cost of living in Vancouver is decidedly cheaper than living in a major city like DC or New York. Knowing the average prices of apartments in the area you are planning to preview is important to prevent a situation where you end up paying more than an apartment is worth.  

3. Landlord

Landlords can either make or break your rental experience. Having a bad landlord may end up causing you a lot of hassle when something in the apartment needs to be repaired. Nowadays, it is easier to do your research about landlords since there are reviews online for almost everything. You can also contact previous tenants to get an idea about whether the landlord is responsive or not. If you do not have access to such information beforehand, then following your gut feeling is a great way to determine whether a potential landlord is going to be good or end up causing you issues.

4. Length of the lease

The length of the lease offered can also be a deciding factor when looking for an apartment. Having a long-term lease ensures that you do not have to constantly move around. However, you should go over any lease properly so that you do not end up in a bad rental agreement that you will not be able to get out of without a hassle. A good lease will typically range from a year to three years long. If you are moving for a job, you can also negotiate with your prospective landlord depending on how long your work contract is for so that you do not get stuck in a lease for longer than your job contract requires.

These four factors are crucial to making an informed decision when renting any kind of property. In no time you will be able to settle on a rental that provides you with the right facilities for a great price. Remember that you need to thoroughly research any potential rentals to ensure that you are not getting a bad deal for the place you are renting.

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