Hello World! Welcome friends. Today I want to talk to you about all things rental. Are you a landlord? A tenant? Or, are you a letting or rental agent? It has been quite some time since I have been in the rental market, but with the probability of putting our house on the market, we might have to pop on over to the rental side of things for a couple of months before we move into our new house. Trust me, I will keep you in the loop should that be the direction we take.
With my mind turning to a new to do list such as getting all house projects completed and closets and bookcases cleaned up, I found myself wondering if the world of renting had changed much since the last time I rented. With a little research I found that the process is still very similar to when I rented all those years ago. However, one thing I never had before was renters insurance also known as contents insurance. It is very important to have an insurance policy in place to protect your possessions while you are in a rental property. Another thing that is really helpful is that these days you can get in contact with a Letting or Rental Agent to help you in the search for the perfect rental property to fit your needs. A Letting or Rental Agent does the all important research on properties and narrows the selection down to those properties which will come closest to fulfilling your needs list. This step saves a ton of time for the renter.
I’ve never been a landlord, but I do have a couple of friends who do own rental properties. For the most part, everything runs quite smoothly between landlord and tenant; but every once in a while there are little hiccups along the way. When misunderstandings occur, it is best to have as much information at your disposal. My good friends at homelet.co.uk informed me of a great ebook that they have on their site that contains useful advice and insights from a number of industry experts that can help a new landlord or a seasoned one navigate through the rental market.
So, what tips do you have for me just in case we might end up renting for a bit? I would love to hear them. Thank you for stopping by! Have a lovely day/night depending on where you are in the world! Go with God and remember to be kind to one another!
Toodles,
Kathryn, we are in the process of renting a house for the first time in 27 years. We will live there while we build a new house. The part that has shocked me was the cost to just get in the house. The monthly rent is far more than any house payment we’ve ever made. We are required to make a security deposit, pet deposit, and pay fees for application. It’s going to be around $5,000 just to get in the house!! Yuck.
I have a friend who is building a house as well and will be moving into an apartment once her house sells. She’s been looking and pricing and is definitely not looking forward to it! I think it’s hard to go from owning to renting. I’m so looking forward to seeing your new home!!!
With getting into a rental there are fees and deposits typically. Application fee, cleaning fee, security deposit, first and last months rent, pet deposit (if you have any), etc. it can add up. Depending on who is renting to you, you may be able to get some of the money back at the end of your lease. I do recommend taking pictures and also documenting any damage you see to the rental (stained carpet, nicks in the walls, etc.) within the first day or two of moving in and provide a copy to your landlord as a precaution. Thanks for sharing!
Hey,
Thank you for this valuable post. The stars of a landlord and his renter never seem to match. There is often some or the other problem that comes up.
To end up all this fuss, my wife and I decided to buy our own luxury apartment and we did so. I am so happy that we took this step as we do not have to deal with a landlord every month. Even my kids are a lot happier experiencing all the luxury amenities.
P.S. : You have a lovely daughter. God bless you all.
Regards,
Daniel