4 Renting Hacks That’ll Make Your Life Easier

Whether you are new to renting or reconsidering your current living arrangement, looking for a rental house may be a time-consuming procedure. Therefore, you have to be prepared before you start hunting for a new place. Going apartment hunting should not be challenging, but it may be tricky if you do not plan ahead.

Fortunately, there are lots of rentals to suit various types of households and budgets. However, to make your search smarter and more efficient, check out our 4 tips for a better renting experience:

Determine How Much You Can Pay

Set a budget and check where your money is going before looking for a rental. If you have some time before looking for a new rental, run the numbers with one of these services:

In general, it is recommended that most people spend no more than 30% of their income on rent. Do you think that is possible for you, taking into account debt, transportation and shopping prices, savings, and other expenses? Regardless of your feelings about the 30% suggestion, many landlords set income limitations, such as requiring that your annual income should be a certain multiple of monthly rent, or that your rent does not exceed a specific percentage of your monthly income.

Remember that, in addition to rent, you will need to budget for utilities (unless your landlord covers some, or all, of them). Other expenses may include cable and Internet, and any other potential extras accessible to tenants, such as parking, storage, and coin-op laundry.

Some additional expenses may include the costs of moving and furnishing your home, which may need special furniture. For example, long drapes and room dividers in a loft with high ceilings, patio furniture for a balcony or house with a deck, storage accessories, and so on, to make the place habitable.

Take some time before you embark on the hunt to determine the price range you can afford. It is critical to stick to your budget, no matter how tempting a more expensive house may seem.

Think of Where You Want to Live

It is important to spot the best location to live according to the regular places you visit (like your workplace) and your schedule. So what you can do is to determine the locations where you spend most of your time. Then, to see what is available in certain areas, you can use some helpful apps and websites like:

  • PadMapper uses mapping technology to insert listings from sites like Craigslist into maps.
  • HotPads; which provides “heat maps” that allow you to compare rental and for-sale home inventories across neighborhoods.
  • Rentable to see what is available in certain areas.

What is your work schedule like? What neighborhoods do you visit on a daily or monthly basis? Do you drive, cycle, or use public transportation to go to work, or does it depend on your neighborhood? What do you do on weekends? Do you want to live near those locations and activities, or is it okay if you live somewhere else? Is there a grocery store or a drugstore open during the hours you need to shop if you work late or get up early? You have to think of the answers to all of these questions!

Hang Out In the Neighborhood

Spend a weekend day, an after-work evening, or an early-morning coffee commute in any neighborhood you are considering as part of your hunt. Do you enjoy the ambiance, the drive, the people in the neighborhood, and the school options for your children?

Is the commute feasible during the hours you would need to make it? Is it easy to locate services like copy shops, co-working spaces, and delis if you work from home? This visit will have a great impact on your final decision.

Check the Services

Will you be near the services that are important to you? WalkScore lets you search for a specific property or neighborhood to check how close it is to coffee shops, restaurants, groceries, public transportation, and schools.

Aside from grocery stores, drugstores, and coffee shops, think about how close you are to public transportation (not just for you, but for friends who use it), schools for your children, gift and apparel stores. Furthermore, make sure you have other close services specific to you, such as churches, veterinary or medical offices, package/mailing centers, a fitness center, and so on.

Investigate the Problems

Whether you choose to live in the city or the suburbs, learn about where and what types of problems are prevalent in your region. If you live in an area where there are a lot of car break-ins, you might want to keep your car in a garage.

There are plenty of websites to help you find out if it is safe to live in the chosen neighborhood. Neighborhood Scout, Spot Crime, Crime Mapping, CityProtect, and Nixle, as well as neighborhood blogs, are good places to start.

Decide What Type of Rental You Need

This phase will be determined by the length of the lease term you seek and the size of the place you need. Depending on your market and your requirements, you can choose from a wide variety of property types from a range of landlords.

If you need a short-term rental (six months or less), consider a sublet. This is where you take over someone else’s lease or rent directly from an owner. Another good option is corporate housing, which is more expensive but more convenient for someone new to a region. On the other hand, listing portals provide a wide range of possibilities for longer-term rentals (usually 12 months or more).

Apartments

Apartments have many residents, maintenance is usually handled by a professional management company, and your building may be centrally placed in a walkable urban location. Large buildings are typically easier to research on blogs or apartment commentary sites.

However, an apartment may be smaller than alternatives in the suburbs, townhouses, or single-family homes. It is most likely too tiny for a big family. Also, parking in the building or a nearby lot will likely cost you extra.

Townhouses

In a townhouse, you will have more privacy with only one or two units on each side of yours. You may have a yard, and the home’s layout may be on two or more floors, which means that you may spread out and enjoy privacy within the property despite the square footage.

Nonetheless, maintenance may be unpredictable if you lease a townhouse straight from the landlord. Some townhouses are in more suburban areas, so you may be sacrificing location for more space. And utilities may be slightly more expensive there.

Single-Family Homes

If you have a bigger family, children, noisy habits, or pets who would benefit from a yard, a single-family home may be a better alternative than other renting options. You’ll have more bedrooms and bathrooms, as well as more privacy.

But single-family homes can be more expensive to rent, and they may also have higher utility costs. If the property is owned and maintained by individuals rather than a management company, it may take longer to handle maintenance issues.

Prepare Yourself

Your job is almost done, but now it is up to the landlord to decide whether or not you are qualified to rent their property. Here are some things to prepare for during the approval process:

Your Background

Typically, landlords or property management agencies will request an application enabling them to do a background check on you. You will have to provide information on your employment, income, and bank accounts.

The Lease

This is essentially a contract that spells out the terms of your rental, such as:

  • When it begins and ends;
  • The amount of the deposit and how it is to be treated;
  • Who is responsible for payments (if more than one resident will live in the unit);
  • Rules on the use of the property (smoking or no smoking, pets or no pets);
  • When the landlord can enter (typically with a day’s notice);
  • What is and is not included (utilities, for example), and so on.

A Security Deposit

When you move in, you usually pay your landlord a security deposit equal to one month’s rent, as well as the first month’s rent. You will get the security deposit back within the number of days or weeks indicated in your lease or as required by your local municipality or state at the time of move-out.

Overall

The house of your dreams is out there; you just need to put in the effort to find it. Before you start looking for an apartment, make a budget, check the neighborhood, decide which type of rental works for you and prepare your papers.

Reference:

5 Steps to Finding the Perfect Rental Home | HGTV

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