Things to Consider when Renting a Property

  • 3 years ago
  • 1

Due to the constant rise in inflation as well as the property prices, there has been a change in trend from owning properties to renting properties. The cost of purchasing land and building a house have gone high drastically. On the other hand, rents appear to be cheaper and do not require a lump sum investment such as in the case of a personal house.

With the rising trend of shifting to rental accommodation, here are a few things that you should consider before renting out the right property. 

Location

Prior to checking how exactly the accommodation looks like, it is better to evaluate the overall area nearby. The location matters in numerous ways such as distance of home from workplace, closeness to commercial markets, and the general environment of the area. For example, People that tend to live in Posh Areas such as Defense cannot comfortably live in an area that has relatively lower facilities. Without evaluating location in the right way, you may end up making a wrong decision which will cost you high in terms of time and money.

Overview of the Accommodation

The entire accommodation matters a lot as it is the place you intend to live in. If you are satisfied with the location, consider the accommodation in numerous ways. Check for all the essential utilities such as gas supply, water supply, electricity connection, any outstanding bills and others etc. It would also be useful to consider the airflow in the accommodation as it is a key factor that is neglected by many. Moreover, check the overall condition of the entire accommodation whether there are any damages or not. Make sure you note them and let the landlord know of it prior to finalizing the deal.

Landlord Tenant Relation

Last but one of the most important things to consider is evaluate the landlord. Try talking to the previous tenants to have an idea about the landlord. Perhaps, asking from the neighbors could also be useful. Notice the attitude throughout and make sure that you make a legal deal with all the required documents and papers that would add to the credibility of the landlord. Many tenants find a suitable location and an accommodation but they are not happy with the behavior of their landlord which is why this is one of the most important factors to be put under consideration.

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