Things you should know before renting a house for the first time
Things you should know before renting a house for the first time 15th February 2021
Searching for your perfect home can be quite overwhelming, and renting can make it even more stressful if not done correctly. Renting a house is generally referred to as a property occupied by somebody other than the house owner. There are several things one must consider before finalising a house, and you need to ensure that you clarify all your doubts before arriving at a conclusive decision and paying.
In this article, we will discuss what you should know before renting a house for the first time. These points will not only help you stay calm while renting but also ensure that you make a well-informed decision before going ahead with the agreement. After all, it's going to be your home once you move in.
Think about the location before moving in. Notice the surroundings and the essential services and facilities available in the vicinity. Is it a school or a pub? Will you be comfortable with loud music and traffic noise? Check the area for essential services for you before signing the agreement.
Check the amenities like the washing machine, geyser, air conditioner, etc., if they come along with the house. It is your responsibility to examine these inventories and their working and get the landlord to confirm their satisfactory working in writing. It would be best to ask the landlord to clarify the repair or replacement of these appliances.
3. Release clause:
A release clause entails that the tenant must pay a fee and find a replacement if they wish to release themselves from the contract and move out of the house. Discuss the clause with your landlord beforehand.
Enquire if your landlord will be repainting the house before you move in. And if they have any plans to paint or deep clean the house, it would be good to get the work done before you sign the tenancy agreement and make the payment.
It is a good idea to discuss if pets are allowed during the negotiations with your landlord. Breaching the tenancy agreement by keeping a pet can lead to possession and eviction in the future.
During the house inspection, open the taps and shower and check the water pressure. In case of a problem, negotiate with your landlord before signing the agreement.
Usually, landlords ask for two months' payment in advance, but there is no fixed amount. They can maintain discretion about the deposit amount. Make sure you bring this up during your negotiation or agreement.
8. Terms and conditions:
Read the agreement very carefully. You can challenge terms and conditions you are uncomfortable with or find confusing. But you must do this before you sign the deal. Never sign an agreement without having complete knowledge about it. Any carelessness done during this period can have adverse consequences later.
Now that we have discussed the things you should know before renting a house for the first time, it would be wise to verify with your landlord if he has purchased home insurance for the home. Being covered under the umbrella of the best home insurance in India can keep you relaxed and free from worries of any damage or theft at your rented apartment. Ensuring security should be on the top of your priority list before shifting to a rented home.
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Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.