What you need to know before you Rent!

Author : teriann

After getting a steady income, the next step in most young adult’s life is to move out on their own. ¬†However, leaving your family’s home and finding affordable lodging can be a challenging task.

The truth is many professionals are still not able to purchase a home even after years of earning a steady income. They are often burdened by student loans and car loans which make it difficult to put aside the needed funds for a deposit for a home.

Rental Arrangements

Since rental of apartments is much cheaper than having to find the costs associated with buying a home it is a popular move for many professionals.

Renting a property usually includes use of facilities such as laundry areas. Some more upscale apartments can also offer 24 hour security, pool, tennis court and other amenities.

The tenants are assured of protection as they have laws that govern how and when rent is collected and how much notice they need to give if they are asked to vacate the property.

The matter of maintenance is also covered under rental or lease agreements as the landlord is responsible for the upkeep of his property.

This means tenants don’t have to worry about the hassle of minor repairs.

Potential Problems

Although renting a property sounds like an easy arrangement, it is not without its potential problems. The first potential problem is the other tenants.

They can range from slightly annoying to extremely inconsiderate and rude. They can be difficult to ignore depending on the closeness of the living arrangements.

Landlords can also be very hard to dislodge from your personal life.  They can make visits without calling first or have issues with your invited guests. They may also inflict their rules on their tenants which can cause tension in the relationship.

The cost of a rental is also something to consider for all new tenants. After paying a rental of $40,000 each month for two years, you would have paid approximately a million dollars which is just what you might have needed for a deposit on a home.

First time renters should always remember that security deposits are charged and once the renter does not damage the property or owe any money for utilities it is returnable at the end of the specified period.

So first time renters must weigh their options carefully and outline their needs and any arrangements to their landlord to determine if they will be a good fit.

So what’s your take?

What do all first time renters need to know?

Let me hear from you!

Teri Ann Renee Paisley

Gleaner Online Writer

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7 Responses to “What you need to know before you Rent!”

  1. Diane Haslam says:

    i would recommend that renters be careful of:

    Shady landlord and contracts. The contracts should not include any terms that is contrary to the laws of tenancy and you should ensure this.

    Tenants should not pay premium or interest on their rent, nor should they do so on deposits.

    Landlords should not invade your space without permission.

    If water is shared use a simple calculation to determine your share, total cost/#of tenants. That should be the sum owed for shared services.

    Never rent where electricity is shared as this is very costly and cannot be easily measured (unless you know the kw usage per item in the landlord’s space).

    Pay your rent ontime to avoid any hassles or issues with your landlord, some of them rely on your money to pay their mortgages.

    If you are moving into a new apartment, then check the sale price of the property because you are likely paying that persons mortgage, and I have a very simple rule, if you can pay someone else’s mortgage you can pay your own.

    if you walk into a house and do not feel that the price is worth the conditions, then run away, you are most likely right. Some landlords do patch painting and repairs – which is a good indicator you will have issues with repairing minor problems later – some landlords feel that their tenants should invest in fixing their own asset,

    Did I say that you should ensure the contracts or lease agreements are in keeping with current laws; do not trust the real estate person to work in your favour by vetting, their pay is determined by the rental price therefore their opinions will be swayed in the favour of the person paying them. Check the validity of the agreement via the rent board.

    Ensure that when you are renting that you are mindful of the inner city communities nearby because your light bill will be determined by them. My light bill ranged between 8000-12000, then i moved and my light bill ranged from 2000-4000.

  2. teriann says:

    Hey Diane thanks for your contribution to the discussion. It certainly provides useful advice to renters! Keep reading and sharing.

  3. Stephen says:

    Thanks for your contribution Dianne, as a Tennant I had major issues with my Landlord. He was too frequent at the premises. Day or night, during the week, weekends and on Public Holidays this man became our worst nightmare. He wanted to charge us for minor pluming repairs and when we were leaving after renting his place for over two years, he charged us for having to repaint sections of his house for normal wear and tear that he was responsible for. I had to stand up to him as a Tennant as he tried to bully us over thinking we did not know our rights as Tennants. We had to report him to the Rent Board because we reported a pluming leak which he took forever to come and repair and the leak got worse. I had to get a plummer to come and fix the problem which i deducted out of our monthly rent and provided him with pluming bill. This did not go too well with him and he was so furious and said that he was not accepting that charge as he could of gotten the work done for a cheaper price and demanded his full rent which I refused to pay him. I then reported the incident to the Rent Board who immediately dealt with the situation for us. I just want to say to everybody as Tennants we have rights and no Landlord is suppose to bully and trample over you. Call the Rent board and go on their website to find out what laws protect us against abusive Landlords

  4. teriann says:

    Thanks for sharing your experiences Stephen, I am sure others will learn from it. Keep reading and sharing.

  5. great tip good guy

  6. Some really good articles on this website , thankyou for contribution.

  7. teriann says:

    Thanks, keep visiting our site!

    Teri Ann

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