Although home ownership brings with it the perk of having a place to call your own, renting still provides that much craved-for sense of independence. However, much like purchasing a home, leasing a place is not without its own logistical challenges, short and long term maintenance requirements, and other practical considerations. However, to get the most of the lease experience, it is worth paying attention to the granular details that come with finding the right rental for you–and making the home experience as rewarding as possible.
We break down 10 renting tips to get you started.
Have a clear list of requirements
Finding an ideal condominium unit or house to rent can be a rigorous process that requires time and effort. Make the process of rental-hunting more efficient by listing down all your requirements and must-haves.
What type of property are you looking for? Are you a solo dweller who is keen on renting a spacious, open plan studio, or do you prefer a one-bedroom unit that affords more privacy?
What is your maximum budget for monthly rent? If you are interested in a condo, consider too the association dues that need to be paid if these have not already been factored into the lease price.
Which locations do you prefer? Are there any practicalities that need to be accounted for such as proximity to your place of work or the schools your children attend?
Other practical requirements worth looking into may also include must-have amenities, rules on pet ownership, PWD access, and parking inclusions, among others.
Explore all means of finding a rental
With your requirement list in hand, you can begin scouring the market for options. Online property finders are one of the most popular ways to do this yourself. Contacting the administrative office of a condo development or checking their bulletin board for available spaces is another way. Alternatively, you may opt to work with a licensed real estate broker who can do the legwork for you.
Don’t skip the ocular visit
Photos alone, however well-lit and nicely framed, cannot capture the full experience of setting foot inside the property. Not to mention, getting a feel of its environs. And while photos and videos can help you make that initial decision to view a property, an ocular allows you to see details that may have been otherwise overlooked such as design details that do not appeal to you, and even more crucially, interior damage. With the latter, be sure to discuss any potential repairs that need to be done by the owner. If you settle on a specific property that needs work, follow up on the owner to ensure these have been completed prior to formalizing your contract.
Ask about property rules
A rule as simple as “no pets allowed” can be a deal breaker for some tenants. Do your homework by asking the owner about their rules and limitations, and furthermore, the development’s own house rules for all tenants. This will provide insight on what you can and cannot do, but also other factors that reveal the quality of property management. For example, policies on visiting guests can reveal the property’s regard for the safety and security of its tenants.
Do negotiate
Once you have shortlisted your options, consider negotiating if possible. A lower rent benefits you in the long run by saving you money. And lessors will almost always be open to this for as long as the proposed rate is fair and justified. Lowballing a lessor by making an offer below market value can be off-putting. Be respectful during the negotiation process and put it in writing by submitting a Letter of Intent. Ultimately, the final monthly rent will have to be mutually agreed upon by both parties.
Review your lease contract carefully
Contracts set forth all the terms of your lease: the details of both lessor and lessee, the lease period, payment terms, as well as clauses on repairs, improvements, late payments, and early termination, among others. Take time to carefully review the contract and make clarifications. If you are working with a licensed broker, you can enlist his or her help in lending an expert eye and functioning as mediator between you and the lessor.
Finally, If you see a need for it, negotiate specific clauses. For example, if you wish to propose a smaller escalation rate upon renewal, discuss this with the owner. Do not sign a contract that does not sit well with you. Formalize this only until both you and your landlord have agreed on every detail.
Prepare for a smooth move-in
Apart from scheduling your move-in date, minimize logistical stress by planning well. First of all, get all your paperwork ready. Common requirements may include:
- Notarized copy of the lease contract
- Move-in clearance form
- Work permit or gate pass for day of move-in
- Completed tenant information sheet
- Copy of your government IDs
Some developments may also require a tenant to attend a house rules orientation or may have additional requirements for foreign nationals. To ensure nothing is overlooked, coordinate closely with the property’s administrative office.
Decorate your rental
Rentals may have limitations so far as improvements to the property are concerned. You may not be allowed to paint the walls or you may be required to ask permission from your landlord to drill on it. But despite these, there are plenty of ways to make your space as homely and comfortable as possible. Use the move-in period as an opportunity to plan the look and feel of your home. If you choose to DIY this, there are plenty of free apps that can help you envision your floor plan like Roomeon or RoomStyler. Pinterest mood boards and design blogs also offer plenty of visual inspiration. If you wish, you may also work with a professional interior designer to help bring your design vision to life.
Decorate your rental
One of the best renting tips to keep in mind is to maintain your space regularly. Over the course of its lifetime, natural wear and tear will take place: ceiling leaks, termite infestation, damage to wood floors, to name a few. Overlooking these may lead to greater problems down the road so make sure to do periodic maintenance work.
Look to your lease contract for stipulations on repairs. Major repairs–and the specified minimum amount–should be covered by the owner, and anything below that (minor repairs) shall be on your account.
Enjoy your home
Enjoy your home and do so with respect to the conditions in your lease contract. Whether you choose a studio or a three-bedroom penthouse, remember your rental is a space to grow and create memories in, however long your stay.
Get started on finding a rental home you’ll love by visiting Rockwell Leasing and Secondary Sales. Choose from Rockwell’s premiere developments and compare properties with ease.
And once you have settled on a rental, enjoy the signature Rockwell lifestyle and its distinct exclusivity, security, convenience, and accessibility.
Contact Rockwell Leasing and Secondary Sales today to learn more.