What you need to do before signing a property lease
Are you about to sign a property lease? Moving into a new place is exciting but it also comes with added stress. From reviewing the condition of the property to checking for additional expenses, there are plenty of things you need to know before committing to a lease agreement. You can find a diverse range of properties for rent on GotProperty.
1. Do your research
Research the price of other properties in the area to check that you’re getting a good deal. Review the location of the property to make sure that the neighbourhood meets your requirements. Look out for nearby amenities such as retail outlets, schools, parks, and transportation networks. The property’s proximity to your work or university is another important factor to consider. It’s advisable to visit numerous properties that are up for rent before you make your decision. Once you’ve looked at a range of properties, you can commit to renting the home that suits you the best.
2. Check the condition of the property
Check the condition of the property together with your landlord and make a note of any repair work that needs to be done. This part of the process is important as it protects you from having money deducted from your deposit when you move out. The lease agreement should also make it clear who is responsible for repair work. It’s helpful to understand what type of repairs your landlord will pay for before you commit to renting the property.
3. Read the rules about pets
If you love animals, check for clauses about pets in your lease agreement. You could be evicted if you break these rules so it’s essential to know what pets are allowed on the property before you move in. Whether you already have a furry friend as part of your family or you plan to adopt one from a rescue organisation in the near future, you’ll need to know if your landlord allows pets.
4. Check for extra expenses
Read the property lease carefully to see what additional expenses you’ll be liable for. Check whether the utility bills are included in the rent or not. It’s also advisable to determine whether there are other amenity expenses you’ll need to factor into your monthly budget. If the property has a pool, you’ll have to consider the cost associated with the chemicals that are required for its upkeep.
5. Read the rules about painting
Assess the landlord’s rules about painting the walls of your new home and about using nails to hang up pictures. If you’re planning to get stuck into decorating your new home, you’ll want to be clear about what alterations you’re allowed to make.
6. Know the termination policy
Check the conditions for terminating your lease agreement. In some cases, your lease will automatically be renewed or there will be a specific notice period. You could have to pay additional expenses if you violate the termination policy that’s included in your property lease. While you may plan to stay in the property for years to come, you never know if unforeseen circumstances might cause you to terminate the agreement sooner than you expected.
7. Know your responsibility for repairing appliances
If you’re renting a property that’s equipped with furniture and appliances, know whether you’re responsible for repair costs. Likewise, you’ll need to be clear on what maintenance expenses you’re liable for.
8. Find out if your landlord lives nearby
Ask whether there is a property manager located nearby or if the landlord lives in close proximity to the property. If you have a query or emergency, it’s good to know that someone will be available to help.
9. Review the community rules
Flats or complexes often come with their own set of rules. Read the rules before you move in. Guidelines about quiet hours and visitors will have an impact on your daily life so it’s essential to know what you’re getting yourself into before you sign the lease.
Now that you know what to do before signing a property lease, you can rent a property with confidence. While committing to a lease agreement can be intimidating, it helps to know what to look out for before you make your decision. Visit GotProperty and discover a wide range of homes to rent.