Basics for renting a house

Are you preparing to rent a house? If so, have you thought about what to look for? Do you know what questions to ask your potential new owner? And finally, how exactly should you rent that house? These are all good questions that we are going to answer in this article.

What is the most important thing to look for when renting a house? It’s a simple answer and you’ve heard it before: location, location, location. This is not only important when you are buying a home, but also when you are renting.

If you live in one place and have to travel a long distance to get to work, you probably won’t be happy. Or, if you have children and they go to public schools, then you want to make sure you rent a house that is in a good school district. Or maybe in your spare time you like to spend your time fishing. So it is important to be near a good watering hole. Location, location, location, … it’s so important!

Another important factor to consider is cost. Rent and utilities must not exceed 36% of your total income. Renting a nice home is important, but don’t let it ruin you financially.

Once you have found a house to rent in a suitable location and at a cost you can afford, there are some important questions to ask your prospective owner. Questions like:

1. How long does the landlord plan to rent the house?
2. How long will the current rental rate be guaranteed?
3. Can you estimate how much the next rent increase will be?
4. Are pets allowed? If so, what type of pets and are there any size or weight limitations?
5. Who is responsible for maintaining the landscape?
6. If painting is required, will the landlord provide the labor and materials?
7. Can the landlord provide an estimate of the costs of electricity, gas, sewer and garbage?
8. Can the landlord provide details about the neighbors who live in the area?
9. Is a security deposit required, and if so, how much?
10. Does your down payment include the first and last month’s rent or just the first month’s rent?

These are important questions to ask your future owner. Your answers will help you determine your initial investment and future costs. These answers will also help you decide how cooperative your future owner can be. Feel free to ask these questions.

Renting a house is quite a process. Once you have found a home that meets all of your expectations, you will need to sign a contract with its new owner. But, before doing that, the landlord may ask you to fill out an application. Don’t be surprised if your landlord asks you to do this … the information you provide will help ensure that you are a suitable tenant.

The landlord must provide you with a contract to sign. If you don’t have one, you can purchase one from Office Depot or you can get one from your real estate agent. It is the landlord’s responsibility to provide you with that written contract and not rent a home without that contract.

Once the landlord has provided you with a lease to sign, it is in your best interest to have someone thoroughly review it before signing. This person can be a real estate attorney or close family member who has contract experience. Make sure every word in the contract is checked.

Renting a home doesn’t seem complicated, and it really isn’t. Just make sure you cover the fundamentals above and you should be safe. Good luck finding the home you are looking to rent!

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