Advice to Buyers
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Helpful Tips for Renters
 

Whether you’re a longtime renter, a short-term renter or a young person who’s on the prowl for your very first apartment, these tips can help you avoid some of the potential pitfalls of renting.

 

1. Research

It is necessary to know a lot about the area you are going to live in and the approximate price you are going to pay.  You must also do as many viewings as you can before making your final decision. Bargain or ask the landlord to make changes if you’re not satisfied with something.   

2.  Ask for a written agreement

If there are any improvements made in the home, make sure you get it in writing. It is very essential, as you may have more power when you ask for your deposit back.   However long the contract is, you must always read it carefully before signing. Make sure you understand the terms and conditions properly, as many clauses may not be stated clearly. Make enquiries if you are not sure about something. Unexpected statements may also be given e.g. pay for professional cleaning on moving out.

3. Be aware of your rights

These include 3 main rules:

A.    Gas Safety is very essential and a record should be maintained. It should be valid as the property is inspected every year.

B.    Electrical Security – All Electrical equipment must be examined by a contractor every year. Confirm from your landlord that it has been done.

C.    Fire Resistance in a home is also very important. Fire alarms must be fitted properly. Fire safety rules must be obeyed and furnishings must comply with the Fire Safety Regulations.  

The landlord should ensure that the property is in good condition and is suitable to live in. If any problem arises in the future, speak to your landlord who will then send someone to make necessary changes. Tenants have every right to their own privacy as long as the rent is being paid, and paid on time.

4. Maintain a good relationship with your landlord

All those who maintain a good relationship with their landlord tend to benefit in the long run. You must ensure that the home is maintained well and everything is in good condition. Rent should also be paid on time. You must treat it as your own home. It gives you a much better bargaining power.Therefore, before renting a home it is advisable to take all these factors into consideration. You must always try and be in the good books of your landlord to avoid problems in the future.

 

When you buy, in the beginning your monthly payment may be higher than comparable rent. Keep in mind that a buyer (owner, debtor) has to pay interest, (usually) principal, property tax, fire insurance and possibly HOA (home owners association) fees.