Renting a long-term home is an exciting prospect, but it can also be overwhelming. There are many factors to consider before signing the lease and committing to a property for an extended period. From location and budget to amenities and landlord policies, it pays off to do your research ahead of time, so you can make sure you’re getting the best possible deal. To help you on your journey, here are 8 things that should be taken into consideration before renting a long-term home.
1. Location
One of the most important things to think about when renting a long-term home is its proximity to your workplace, family, and friends, as well as other places that are important to you such as schools or grocery stores. Research the area you’re looking at thoroughly so that you know what kind of neighborhood it is, including crime rates and accessibility. So, to find your apartment rental at the location you want, make sure to do proper research. While you can easily search existing listings online, you may also want to visit the area in person to get a better feel for it.
2. Budget
Your budget is probably the most important factor in deciding what kind of place you’ll be able to rent. Research rental prices in the area and make sure that you have enough money saved up to cover not only your rent but also any other associated costs such as parking, insurance, utilities, etc. It’s also important to consider how much extra money you’ll need each month if anything were to go wrong with the property or if an emergency expense were to arise. To budget for a long-term rental, make sure to factor in unexpected costs and have a financial plan for the future.
3. Lease Terms
Before signing any lease agreement, it’s important to thoroughly read through all of its terms and conditions. Make sure that you understand these clauses so that there are no surprises down the line. Common things to consider include pet policies, late fees, move-in costs, and deposits, as well as license agreements if you plan on subletting your space or using it for a business purpose. In addition, be aware of any special rights or restrictions a landlord has regarding the use of their property. Knowing what is expected from both parties will help ensure that neither party runs into any issues during the tenancy period. Additionally, make sure to know the length of the lease and if there are any options for early termination.
4. Amenities
When renting a long-term home, it’s important to consider what kind of amenities you may want or need to be comfortable. Features such as air conditioning, heating, parking spaces, laundry facilities, and access to community areas can all make a big difference and should be considered when looking at potential properties. Additionally, think about how much storage space you need and if there is available furniture that will come with the property. Knowing which features you would like ahead of time will help narrow down your search and get you closer to finding your perfect rental.
5. Maintenance Responsibilities
It’s also important to be aware of who is responsible for what kinds of maintenance in the home. Are there any repairs you will have to pay for or are they covered by the landlord? Make sure you understand if these responsibilities fall on you, the landlord, or both parties. Some landlords may even offer a service plan that covers regular maintenance such as plumbing, electrical work, and appliance repair. While this may add to the cost of your rental, it could save you money in the long run if any issues arise.
6. Utilities
When renting a long-term home, it’s important to consider which utility services are included in the rent and which ones need to be set up separately. Common utilities include water, electricity, gas, cable/internet access, trash pickup & recycling services. Find out what kind of payment plans are available and if discounts are provided for long-term contracts. Additionally, inquire about any additional fees or deposits that may be required before services are set up. If possible, work out a payment plan with the utility companies so that you can spread out the cost of these services over several months. Of course, you’ll also want to consider the cost of heating and cooling in the home if it is not included in the rent.
7. Roommates
If you’re planning on having roommates in your long-term rental home, it’s important to discuss expectations and responsibilities with them ahead of time. Make sure that everyone is clear on who will pay for which utilities, who will have access to the living space, and any other rules & regulations that need to be followed within the household. It’s also a good idea to draw up a contract between all parties involved so that everyone knows what their rights and obligations are from the beginning.
8. Insurance
In addition to considering which amenities you may want or need, it’s also important to consider how you will protect your rental property and belongings. Renters insurance is a great way to make sure that you are covered in case of any accidents or disasters. Contact an insurance provider for more information on the types of coverage available as well as quotes & rates. When it comes to insurance, it’s important to read the policy carefully and understand what is covered and what isn’t. You should also ask questions if you have any doubts or concerns. Having a good understanding of your coverage will help you make sure that all of your belongings are adequately protected in case of an incident.
By taking the time to research all of these topics before signing a long-term lease agreement, you can be sure that your living experience goes smoothly and worry-free. Taking these steps now will save you from potential headaches down the line and help ensure that all parties involved are happy with their rental situation. And, with the right resources and guidance, you can be confident that you’ll find exactly what you’re looking for in your next long-term rental.
