Finding rental property can be a daunting task for anyone but especially for first timers. Many first-time renters feel overwhelmed by the upfront costs and commitment of a property rental. Use the following advice that we are offering here at Oxford MS Rentals to help ease your worries, increase your confidence and hopefully, your overall success when searching for the perfect rental home for your overall needs.
Be alert to homes that are in mortgage default and about to be foreclosed on. If time is not a major consideration, and you are willing to put forward some personal effort, investigating for possible property foreclosure might be advantageous for you. Pre-foreclosure properties are those with owners at risk of losing the home due to delinquency, and in today’s economy, many homeowners are renting their homes as a last ditch effort to hold off foreclosure. For this reason, it is wise to make sure the property you are interested in does not fall into this category. You will find this preliminary investigation to be an excellent investment of your time, as you don’t want to spend all of the upfront costs such as security deposit and all of the utility deposits only to find you are forced to move in a couple of months or less.
If you are using a realtor or other professional rental agent, they may be able to provide you with a checklist while also doing some of the preliminary necessities for you in advance. Realtors often have a checklist that includes everything you need to do or consider when renting a home, from figuring out what you want in a house to finalizing the lease agreement for you. You can use the various checklists to make sure you’re ready for every contingency as it comes up. Also, the realtor or agents fee is normally paid by the person that owns the rental property, so this is a free service for you in most cases.
When you are in negotiations on a rental property, be sure to keep your approach moderate and do not appear over eager or excessively interested in the property you are viewing. Many individuals want to try an extremely aggressive approach at selling you or placing you in their property, but this doesn’t always work in their favor. It’s best to appear that you are impartial to their property and that you have other options, as this may give you some leverage when it comes to negotiation if that is possible. Occasionally rental properties are in short demand and the owners are unwilling to negotiate, and in these cases, make an offer and if refused and you really like the property, go ahead and take it on their terms if they are agreeable for you.
Get organized before you jump into the housing rental game. Start by creating a list of real estate information that you glean from friends, real estate agents, newspapers and the internet. This will avoid confusion and make it easier for you to compare different offerings. Always think ahead and consider what the future may hold when you are in the market to sign a lease on a rental property. If you are single, is there any chance you might marry in the near future? While you might not have kids currently attending school, it’s a good idea to check into the local schools near a potential house if you have children that are nearing school age. You might also consider whether you might require a job change or job transfer, and take that into account for the length of any lease you are going to sign. Try not to sign a lease for more than a year at a time, as things often change rapidly for renters and you don’t want to lock yourself into a commitment that you may not be able to keep, as it could be extremely expensive to break a lease agreement.
When searching the property market for potential rental properties, you need to be both realistic and patient. Don’t try to rent properties that are out of your budget, no matter how much you might want to live there. The right property for you may not come around quickly, so be prepared to view a lot of places before deciding on the home or apartment that is right for you.
Do not rent a home along a busy road if you can avoid it. Though these properties sometimes rent for much less when compared to those properties that are away from a main thoroughfare, they are cheaper for a reason and it may not be good for you. If noise is not a problem for you, then you might be able to use this to your advantage to get more housing for your dollar, so be sure and remind the owner of this fact if and when negotiating on prices.
Be careful if renting a house with a real wood-burning fireplace unless you are prepared to cut your own wood or spend money paying someone to provide you with wood. In most cases, the cost of the wood needed to heat a home with a fireplace is more expensive than using a central heating unit, so it may be more of an aesthetic item versus a useful item. In the end, it might be much less exciting to rent a home with a fireplace because it can be difficult to keep up with fireplaces, especially if you don’t have any previous experience with one.
If using an an agent to assist you, be sure to find an honest and reputable agent that can be trusted when looking for a property to rent. When you have an agent who has a good standing and reputation, you are much more likely to be satisfied with your final choice for your new home. Stick to your objectives when looking for a new rental home and don’t get blinded when you find something you love but can’t afford or that doesn’t fit your overall rental needs. If your property needs are not met by your choice of homes, then just keep looking until you find other options that are better suited for you. Many times renters wind up with a lousy rental home for the sole reason that they got excited about a property and then forgetting to make sure it meets their overall needs.
Always have extra funds for unexpected costs when renting a property. Real estate renters generally take into account only the amount of the down payment and they forget that they will need deposits for utilities such as electric, gas, cable TV, Internet, water, sewer and other similar considerations.
Now that you have the knowledge you need, are you ready to commit to rent? The information you’ve learned here should give you the confidence you need to get over any concerns you might have had and help you to avoid many of the problems often associated with first time renters. Use the tips that fit your needs if you want to get the best results possible. Renting a home can be easier than you think if you are prepared and know what to expect. As you tour prospective rental properties, pay close attention to costs and choose wisely using the tips we have given you in this article. If you are currently in the market for a home to rent, don’t hesitated to contact us here at Oxford MS Rentals where we have rental properties that are sure to fit most everyone’s needs.