Students face multiple challenges when it comes to renting a house or an apartment. The common dangers of renting include crime and rental scams. These issues mostly face first time renters.
Here are some things to consider before you decide to rent.
Can you afford it? Outside tuition, rent is the most expensive thing students spend on. The ideal price for your rent and utility bills should not be more than 30% of your monthly income. You should also be conscious of the upfront expenses such as house deposit, security deposit, and holding fees.
How is the rental market at that moment? The market prices change depending on the time of year and the location of the property. Study the market fluctuation and take advantage of cheap seasons and locations.
Do you need a roommate? If you are not able to cover the renting coast, you can look for a roommate to share the cost. You should ensure that you are getting a roommate that has your preferred qualities. Such include trustworthy, has reliable income, with a lifestyle that is acceptable to you, and is responsible. Living with a roommate is also fun and you always can ask your friend for english essay writing help.
What type of property to rent? Would you like an apartment or a house? Both have their advantages and limitations. For an apartment, it is typically secure, more private, less crowded, and a likelihood of a reliable property manager or landlord. The disadvantage of an apartment includes shared spaces with other residents such as lounges, mail areas, laundry rooms, and there is bound to be a lot of noise. A house, on the other hand, is more spacious, with private amenities and a likelihood that you can keep pets. The disadvantage is that it is less secure, requires a lot of maintenance and share bathrooms and kitchens.
How long will you be renting? Rental leasing periods differ, ranging from one year, six months, three months to one-month leases. In most cases, the longer the lease period, the cheaper it will be. Be cautious when leasing for long periods. In case you wish to leave before your lease expires, you might need to find a sub-letter or incur extra costs.
Access to public transport. In case you don’t have a car, you should consider locations closest to a rail or bus route. Another option is to find a house close to your school where you can walk or use a bike.
What are the necessary documents? Most landlords are often careful when admitting tenants. Especial young adults that don’t yet have an established rental or credit history. Your landlord may ask from you the rental history that includes contact information of your former landlords, addresses, and dates. You may also need to produce your references, criminal history, date of birth, and social security number.
Questions you need to ask before you sign a lease.
You should ensure that you are comfortable and have all your expectations met. Some questions to have in mind for the landlord include:
- How big is the room?
- What utility bill is not inclusive of the rent?
- What is the refunding policy on the deposit?
- Can I remodel my room?
- Does the building have approvals by the health and safety department?
- Are there any restrictions regards guests?
Walk around the building with the landlord as you ensure that everything is in place. Review the lease once more to ensure that you understand both the landlord’s and your responsibilities. You should also be aware of your rights as a tenant per the laws of the land. If you are able, take insurance on the house against damages and theft.
The effort you will put into searching and renting a house will determine the comfort and quality of your home.