Renting or owning? This is a critical question for everyone. Of course, the decision belongs to each of us in part.
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Renting has its advantages such as:
a) Flexibility in choosing the location and relocating
b) It is less expensive than buying (no down payment, no property taxes)
However, you should plan carefully every step, before renting.
First, you need to find a suitable apartment or house, in a desirable location, for you and your family. Therefore, check the newspaper classifieds, rental apartment magazines, Craigslist, etc. See, which are the rental market trends and compare the offers and prices.
It is an important task for you and therefore, making a list with your requirements can help you. Location, location, location …Make sure, your future residence will be in a quiet neighborhood, close from schools and amenities.
Finding, the perfect place is only the first step in renting a home. Next step is to make contact with the Landlord. In fact, the meeting with the Landlord is similar with a job interview. He wants to make sure you have a good credit history and that you will be a good tenant who will take care of his property. You should convince him you are the perfect tenant. Therefore, you need to provide him all the necessary information such as last address, previous address, monthly income, reference letters, etc.
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However, this is only one aspect of the renting process. For your peace of mind, you should be prepared to put different and essential questions regarding the rental residence such as:
1) What is included in the rent?
This is a critical question. It is extremely important to know if your monthly rental payment includes heating, hot water, electricity cable, internet, etc.
There another hidden fees or utilities that can be added?
2) What is the Landlord policy regarding pets?
If you love your little companion, then you should know what is the policy regarding pets, before signing the residential tenancy agreement. There is somehow, a pet damage deposit required.
3) What is the Landlord policy regarding “lease breaking”?
If the contract stipulates, six months or one year lease, before continues month to month basis or another fixed length of time, you should know the consequences of a breaking the lease.
4) What appliances are currently in the space?
Make sure all the appliances are written in the residential tenancy agreement. If they are old or in a bad shape, ask if they can be fixed or even replaced with new ones.
5) Is subletting allowed? Is there any policy about guest visitors?
These are also, important questions for you. Subletting is a great modality to keep the rental unit if you are gone for a while and save the money for rent.
6) What type of insurance has the Landlord for the rental unit?
Usually, the owner insurance covers and protects the rental unit. You need insurance for you, your family and your stuff.
These are only a few questions you should ask before renting a home. Others differ from case to case. However, do not sign any contract before to reading it and before to see the apartment, even if seems to be a great deal for you. Also, do not sign a contract, which gives the Landlord unlimited access in the rental unit without any notification.