It’s exciting when you find a new home to rent. The possibility of a fresh start, maybe even a new neighbourhood is enough to make someone forget themselves. Looking for a new place to live is the time to keep your wits about you though, and not rush into anything.
At Prudential Real Estate we like to ensure that our tenants and property owners understand the process and legalities of everything at all times. This is why we stress to prospective tenants to be sure they understand a few things before applying for a home and then finally signing a lease.
This is especially important for those who are new to renting their own place but it’s also a good reminder in case you forget in the excitement of wanting the perfect place you find.
The lease
Firstly, you need to be clear you understand how long the lease is for. Some owners like tenants to sign for six months, some even go for a year; there is no point falling in love with a home if you don’t wish to sign up for the minimum time required.
Find out if the lease renewal will be done periodically or if when renewed it can be done so for a year or other timeframe. Find out what happens if you need to break the lease sooner. Of course it’s not that you anticipate this to happen but it’s always good to know all scenarios.
The names of the people to be living on the premises must appear on the lease. If after signing a lease you wish to add another household member you should enquire what the process will be.
Repairs and maintenance
Some owners will have the lawns, if any, taken care of for you and others will expect you to do this. It’s important you know this because if you don’t have a mower then you will need to get one or pay someone to do this. These are extra expenses to factor into a budget.
You should also find out if there are after hour numbers to call if an emergency occurs such as the toilet breaking. Often we will have a list of our own trades people we have on the books and calling someone different out is not adhering to the agreement.
Payments
The money you pay for the rental rights of the property is not something you want to get wrong. Before signing a lease make sure you know what bond and rent in advance is expected as well as when your rent is due and how this should be paid.
If it is by bank transfer then you should always plan to pay a couple of days ahead of due date to allow time for funds to clear.
We are here to help and answer any questions; contact our friendly rental team at Prudential Real Estate today so we can get you into your own place sooner.
