These days, renting a home can be a much more prudent move than trying to purchase a home. However, when you are searching for a rental property, there are many things you should know before you begin the big search. Consider the following prior to renting.
While you can certainly hit the streets alone, searching for a perfect rental, it can be much easier to find an ideal unit by going through a real estate agency that specializes in rental property management. Not only will they have an excellent selection of rental properties, they also will help you negotiate your lease and act as an intermediary between you and your landlord if you need maintenance work, have questions or need to settle a dispute.
Shearer Realty, for example, runs the website RentalHousesInCharlotte.com, and offers renters choices throughout the Charlotte metro area. They can help you find a rental unit in your ideal area for the best possible price. Their selection runs from one-bedroom apartments to townhouses to spacious single-family homes.
One of your worries might be finding a rental unit if you have less than perfect credit. In the past, this has certainly been an obstacle for some renters. However, in the current state of the economy, landlords are a bit more forgiving about a lower credit score. What might be most important is that you can provide proof of steady wages that easily cover the rent. Typically, you should only be spending about a third of your income on your rent.
One of the most important things to do when renting a home or apartment is to really take the time to read your entire lease. Occasionally, you will find a landlord that will add items about rent increases, automatic lease renewals or unlimited access to the rental. You want to make sure that the lease is reasonable and that you understand each part, which is another reason why it can be better to work with a property management firm, who will help you with the lease process.
Once you have found a place and successfully negotiated your lease, you will be taken on a walk-through of the unit. Be sure to bring a camera and make a note of any damages you find on the property from scratches on walls or stains on carpets. Your landlord probably already has cleaned and painted the property, but if you do find cosmetic damages or more serious damages, you want to show proof that these existed prior to your moving into the rental. This way, you are far more likely to get your security deposit back after you move out.
Something else you should not neglect is the purchase of rental insurance. Your landlord is not responsible for damages to your property, even if there is a fire or theft. So, you need to protect yourself. In addition, rental insurance does not cover flood damage, so you will have to purchase this separately if needed. Rental insurance usually costs less around $10 or $12 per month, so it isn?t a huge monthly expense, just a very important one.
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