Renting the right way: Factors to consider during your property search

Renting a property can be an exciting yet challenging endeavour. Whether you're a first-time renter or a seasoned tenant, finding the perfect rental home requires careful consideration. Your future happiness and comfort depend on making the right choices during your property search. 

Here are some essential factors to consider when renting a property to ensure you do it the right way:

1. Location

The first and perhaps most crucial factor in your property search is the location. Your chosen location can significantly impact your daily life. Consider proximity to work, schools, public transportation, and essential amenities such as grocery stores and hospitals. Think about your lifestyle preferences, whether you prefer a quiet area or the hustle and bustle of city living.

2. Budget and affordability

Setting a budget is fundamental when renting a property. Calculate your monthly expenses and determine how much you can comfortably allocate to rent. Remember to account for utilities, maintenance costs, and other potential expenses. It's essential to find a balance between a property that meets your needs and one that fits within your budget.

3. Rental type

Different types of rental properties are available, including apartments, houses and townhouses. Each has its advantages and disadvantages. Apartments, for instance, may offer more amenities and lower maintenance responsibilities, while houses provide more space and privacy. Choose the type of rental home that aligns with your lifestyle and preferences.

4. Amenities and features

What features and amenities are must-haves for you? Consider factors like the number of bedrooms and bathrooms, the presence of a washer and dryer, parking availability, security and pet-friendliness. Prioritise your needs and wants to narrow down your options effectively.

5. Lease terms and conditions

Read the lease agreement carefully before signing. Pay attention to lease terms, including the duration of the lease, security deposit requirements, rent increase intervals and percentages and the process for handling repairs and maintenance. Understand your rights and responsibilities as a tenant.

6. Safety and security

Ensure that the rental property is in a safe and secure area. Research the area's crime rate and inquire about security measures, such as alarms, electric fencing, access control and lighting. Your peace of mind should be a top priority.

7. Landlord reputation

A responsive and responsible landlord can make your renting experience much more pleasant. If you are renting privately, try to research your potential landlord's reputation by speaking to current or past tenants. Alternatively, try to rent through a reputable rental agent, whose job it is to ensure that the property is well managed and that any maintenance work or repairs needed are dealt with as quickly and efficiently as possible.

8. Inspection and maintenance

Before committing to a rental property, conduct a thorough inspection. Look for any existing damage or issues and ensure that they are documented in writing. You should also take photos. Discuss with the landlord or agent how maintenance and repairs will be handled during your tenancy, and make sure these are written into your lease.

9. Future growth and development

Consider the potential for future growth and development in the area. This could affect property values, but also the overall quality of life in your chosen location. A good managing agent will be able to tell you about any future plans for a shopping centre, for example, or a major road upgrade,

Renting a property is a significant decision that can greatly impact your life. By considering these essential factors during your property search, you can increase the likelihood of finding the right rental home that meets your needs, fits your budget, and provides a comfortable and secure living environment. 

Renting the right way starts with informed and thoughtful choices. Chat to a Chas Everitt agent for the best advice on your rental property. Find an agent in your area today.

Happy house hunting!