What to Ask before Renting a New Home?
We must have heard before that buying a home is the most crucial decision of one' s life but let me tell you that finding a rental is not a smaller task either. Finding the right rental home is a big decision as it affects your life and lifestyle. It affects everything such as your fuel cost, commuting time, leisure activities, grocery stores, dine out options and whether you can easily host guests there or not.
Before you finalise the available option, make sure you ask the right questions. Doing your homework is very important because once you sign the lease, it may not be easy for you to cancel the deal.
Know about the Lease Terms
Being a tenant, you must be thoroughly aware of the lease – from where it begins to when it ends. Moreover, be very sure about the terms and conditions mentioned in the lease agreement. And if you do not understand any aspect or unsure about any term, do not be hesitant to ask. Make sure that you know about the security deposit, the landlord is charging and how this amount will be adjusted when you vacate the property. You must also ask landlord that how frequently the rent will go up and how much deposit, you need to make before moving in?
Research the Area
You must research about the area where you plan to move in before finalizing the home. Is it near to hospital? Is commercial area near to your home? Will commuting be easier for you once you move in? Check all the surroundings before you sign.
Talk about the Necessary Repairs
If there are tasks that you want your landlord to do before you move in, then it is a good idea to have them completed before you sign the lease contract. You must know your rights as a tenant such as you can ask the landlord to clean and repaint the home before you move in and do all the necessary repairs. Most importantly, make sure everything is done before you sign the tenancy agreement and before you clear all the payment. In short, if you want anything in your home, ask for it and get it done before you transfer deposit.
Ask for Everything in Writing
There is no legal requirement for an inventory or even for a written tenancy contract but for safety purpose, tenants must request the landlord to provide these signed documents. The landlord is legally required to provide functional gas, water and electricity connections and he must provide in writing the name, address and contact details of the landlord on request.
How Much to Pay as Up-front Cost?
There is no "fixed or normal" amount of rent that you need to pay in advance. Generally, the landlords ask for one month' s rent in advance but it can be more as well. When it comes to the deposit, the amount is fixed at the landlord' s discretion. Usually landlord asks for one month' s rent as a deposit but some may ask for more than one month' s deposit.