Renting often has a lower monthly cost than owning a home, as you don’t have to worry about paying for property taxes, homeowners insurance, home maintenance, and repairs.
It is important to think about your needs before beginning your property search. Be clear about where you want to live, the type of property you are looking for, the amenities you need, and the budget you have. Homes and apartments for rent are generally on and off the market faster than properties for sale, so you’ll need to move quickly and be ready to jump when the right property hits the market.
Renting can also give you more flexibility and is a good option if you like the idea of being able to pick it up and move around with minimal hassle. Whatever the reason you want to rent a house, here are the steps to follow if you choose to follow this route.
Determine Your Rental Budget
Take a look at your income and expenses to find out how much you can and want to spend on renting a home. Be sure to consider the cost of utilities, parking, renter’s insurance, and moving when offering this figure.
Make A List of The Essentials
Think about what you’re looking for in a home and make a list of the features you don’t want to trade on. If you have multiple children, you cannot consider renting with three or more rooms.
Do Your Research
Once you’ve established your budget and your must-have list, it’s time to do some research and see what’s out there. You can use popular real estate sites like JagahOnline, Zameen, Graana and other online resources like Facebook Marketplace to search for open house rentals in your area. You can also directly contact a real estate agent and ask for available options in your preferred area.
As soon as you’ve found a few houses that pique your interest, contact the owner or property management company, and schedule a few times to visit. It is a good idea to take notes or photos during each visit so that you can remember the details of each property and compare the properties later.
Negotiate Rental Conditions
After finding a home that meets your budget and lifestyle needs, speak to the owner or property management company to negotiate the terms that work best for you. You may want to rent for six months instead of a year. Or, you may want discounted parking or free cable TV.
Sign the Rental Agreement
Once you have completed the application process and passed the background check, you will sign the rental agreement. Be sure to read it carefully and make sure everything you have negotiated is included before signing.
Now that your name is on the lease, it’s time to move out! Be sure to change your address, let your friends and family know if you haven’t already, and start taking advantage of all that extra space. Welcome home!