Five rookie errors renters can avoid
Finding the right rental property isn’t without its fair share of stress, but as you go about securing the keys to your new home, there are also a wealth of rookie mistakes that it pays to avoid.
So, let’s look at the top five rookie errors and how renters can avoid them.
Failing to consider the what-ifs
Renting a property comes with responsibilities including honouring the conditions of the lease, paying rent on time and keeping the property clean and in good repair.
That’s why it pays to consider the what-ifs before you start applying for properties, including:
- What if you and the person you’re renting with have a falling out and they leave? How would you pay the rent?
- What if your employment ended? Could you afford to keep paying your rent?
- What if you need to move for work, will you find yourself in a break-lease situation?
Sure in some cases, life just happens, but all these questions are worth considering as you look at rental properties. Thinking it through will help determine things like the length of lease you are after and the budget you have when it comes to rental expenses.
Forgetting to connect your utilities
Believe it or not this can and does happen, especially when you move in and things like electricity or gas are already connected.
The free ride won’t last long though, either the energy supplier will cut off your electricity or they’ll soon come knocking to ensure you pay for what you’ve used.
Don’t forget, when you move into a rental property, you need to connect utilities like electricity, gas, telephone and/or internet as part of entering the new premises.
Not investigating the location
Just like buying a home, you should carefully investigate the location of your prospective rental property. Does it have the things you need like public transport, proximity to your workplace, and a safe and secure neighbourhood?
On the flipside, is it under a flight path or too close to a highway?
Take the time to get to know the neighbourhood where you’re considering renting to ensure both the property and the area meet your needs.
Failing to get insurance
This one’s a big one – while the landlord is responsible for insuring the property, the tenant is responsible for insuring the contents they own within those four walls.
That means you will need your own contents insurance to cover things like your furniture appliances, clothes and electronics in the event something goes wrong such as a break-in, fire or flood.
Giving notice before finding a new place
The rental market can be tight and in some areas that’s particularly the case at the moment. That means you should secure a new rental property before giving notice on your current one.
After all no-one wants to be caught in a situation where they have to exit a property but have nowhere to go.
How we can help
Our experienced property managers pride themselves on establishing great relationships with both tenants and landlords. We manage every property as if it were our own and you can learn more about our property management services here.
Alternatively, if you’re looking for a rental property, you can view the properties we currently have available here.