Are you still in pursuit of your dream job? There are numerous burdens, such as paying off the college loan, planning to move to the city in order to turn the tide of success in your favor. Does this sound similar? Finding an affordable rental home is probably at the top of a your list of priorities.
Although acquiring a property to rent may not be the biggest decision you’ll make in your life (or in any given year), but you still have to find a suitable rental that matches your standard of living, life style and poses no hassle in the near future. This decision is both fundamental and critical.
According to a report, roughly one-third of Americans rent instead of buying, while many of them are in early adulthood, many are also having families, seniors, or are empty nesters. Thankfully, there are rentals for all budgets and household types. However, to make your search faster, smarter, and more efficient, we’ve created the top three items to consider for searching rental properties online:
1. Set a Budget
Typically, you search to find rental houses in your desired area by using a search engine on the internet. Knowing what you can afford to pay before you begin your search, after securing financial resources will help you to keep possible monetary hiccups at bay.
Many finance experts recommend potential tenants to spend no more than 30 percent of their monthly paycheck on housing costs. Does that sound doable to you; factoring in travel to work costs, utility bills, homeowners insurance and any other real estate related expenditures? Irrespective of your view of this recommendation, many landlords specify income limits for their tenants - to be paid monthly. So be certain to first set a budget and stay under that specific monthly dollar amount.
2. Features you want/need
Knowing the number bedrooms and bathrooms you require are things to consider first, you need to figure out what other features you fancy in your desired rental home. Do you or your family want a patio or a deck? Would you like to have a private backyard? Is the thought of enjoying a Sunday evening by the side of a fireplace something you desire? You need to ask yourself and your family members these questions. You will probably not get exactly what everyone wants, so focus on the main needs of everyone in your family . Today, thanks to the internet, you can easily stumble upon thousands of thousand of rentals in your desired region, without stepping out of your comfort zone.
3. Rental contract length
Ask yourself how long do you want to live in a rental house? For example, if your job has transferred you for just a couple of months, then a short term contract for six months or less will the best fit for you. On the other hand, if you know you will be in the area longer than a year, then a long-term rental contract is what you need. Most rental home contracts are designed to be annually renewed, so be certain to ask your landlord how long the contract locks you into paying monthly payments. If you don’t need an annual contract, ask if your landlord will work with you and work out a time period that fits your needs.
In conclusion, if you follow the above three steps of finding a rental property, you are more likely to come across one that fits your financial situation and also satisfies the needs of you and your family.