Common Renting Mistakes and How to Fix Them

In a world that is overflowing with population, finding a place to stay is one of the most difficult task. While most of us go through this difficult task, we often oversee many things and forget the most important things to consider while renting or leasing a property. Irrespective of whether a person wants a commercial property for lease (or rent), or a home to live, there few common mistake that he/she is likely to make. If you want to avoid committing those commonly made mistakes, you need these pointers.

Lease Agreement:

The first and foremost mistake people do is to oversee the lease agreement. The lease agreement is the most important factor to consider when one is looking for a home or a commercial property for lease. This piece of paper explains everything you are allowed not allowed to do in that particular property while you are renting it. Before you sign the lease agreement, read the document carefully, line by line. If you are not able to infer what a particular line means, or if you are doubtful about its intended purpose, do not hesitate to get an advocate’s opinion.

Your Requirements and Rules:

While your landlord might have several rules and regulations to be followed on his/her property, your requirements matter too. This means you got to let your landlord know what your rules. You might have many people visit you, or you might be having pets. Make it clear to your landlord what you are expecting from his/her property. This avoids misunderstandings, and unnecessary arguments between you and your landlord for the time you are leasing the place.

Research:

Most people do not enquire about the property and the neighbourhood beforehand. This property that you have planned to lease is a place you are going to stay for a pretty long time. Right? So, researching about the place before you make the deal is a must do act. Start with enquiring people about the neighbourhood. You can also look for reviews about the property and its neighbourhood online. If you have kids ensure that there are schools nearby and the environment is safe for children. If you are renting a commercial property, for example a space for a store, then see if the location is easily accessible for your target customer group. Assess the potential for that location, before you sign the document.

Also enquire about the rental rates in that location, just to confirm if you are getting a fair deal.

Damage assessment:

One of the most common mistakes made while renting is failure to assess the damage in the property. You do not want to be falsely accused and charged for a damage that was already present even before you moved in – do you? Hence, carefully check every single space in the property for damage when you visit the property. Do not be shy to properly document the damage too, by taking pictures or by mentioning in the lease agreement. If the damage is really bad, you can always ask your landlord to fix it, so that you move into a property worth the price you pay.

Renter’s Insurance:

Yes, there is something called a renters insurance. Do not be one of those, who oversee this important step while renting a property. The renter’s insurance will help you in case of a fire or other events that could damage the property.

Read above article useful information & knowledge for you.