Renting can be an ideal option whether you are looking for a temporary space or a forever home, but looking for a rental home can be an overwhelming process. At Choice Properties, ensuring a stress-free experience to find the perfect property is what we specialize in. There are a multitude of factors that come into play when trying to find a home, so we have curated a list of five tips to make the process as smooth as possible.
Step #1: Create a Budget
The most important first step is to figure out what your price range is. How much you can, or should, spend on a home can ultimately be the deciding factor. Take time to establish a budget that works for you and your lifestyle before looking at properties. Many landlords and experts agree that the general rule is to spend no more than 30% of your monthly income on rent, but look at your personal finances and decide what serves your situation best. Remember to factor in utilities and other extra fees to your calculations.
Step #2: Construct a Location Parameter
Finding the right location can make the difference between a good property and great one. Important factors to consider are the commute to work or school, the proximity to shopping, grocery stores, public transportation, or family. Education can also be a major element to consider when choosing a location. Mapping out the places that you most frequent can be helpful to create a boundary of where to start looking.
Step #3: Necessities and Deal Breakers
Think critically about what you truly need in a home. Do you need a spare bedroom? Extra office space? Outdoor access? Decide what works for you and go from there. It can be helpful to write up a list of needs vs. wants to rate the homes you are viewing on a system curated by you. Think about features that would be deal breakers versus ones you would be willing to compromise for something else.
Step #4: What Rental Works Best for You
Based on the budget you worked out, the location picked, and the features that you decided are most important, you can then cross reference these components with the type of property that will work best for you. For example, if you are really needing a balcony space an apartment complex with a communal common area might work to fill that need. A row home might help to avoid upstairs or downstairs neighbors and allow for more privacy.
Step #5: Visit the Property
It is important to not rent a property based only on what you have viewed online. Going in person to visit the space is crucial to not only understanding the property, but to also get a feel of the community you could be a part of. Visiting the property can also help you assess the safety of the home and neighborhood. There is no substitute for viewing a room in person, but if you are truly unable to do so try a virtual walk-through.
Have any questions about renting a home? Contact Choice Property for available and accessible professionals who specialize in ensuring a positive rental experience. Also, make sure to browse our “Listings” page, full of available properties to rent. The page is updated in real time.