Real Estate

Basic Guidelines to Finding a Great Rental

Basic Guidelines to Finding a Great Rental

Looking for a place to rent may seem tedious, and the process of moving altogether can be overwhelming. To ease the process, the following is a basic guideline to get you started with finding your new home.

Search for the Ideal Property

Location is very important in determining the expected rental charges of your new home. The kind of neighbourhood, availability of facilities, and transport network are factors that can make or break it for you. As a rule of thumb, renting can be more expensive in major cities compared to less popular cities. So make sure to check with the agents to find out if the area is within your budget. Once you have the location pinpointed, you should begin the search for the rental property. The best way to do this is with the Internet. There are tons of property websites that will provide comprehensive and updated property listings. You can easily sort through the lists using filters like type of property, number of beds, price range, and many more. Once you see something you like, simply open the page and more detailed information will be provided. You might want to select a few and bookmark them, then open them all in one window so you can further compare.

Sort Your Finances

As a responsible prospective tenant, you will need to make sure that you are financially able to go for a rental property. It is important to find out the payment method as well as how the payment works. You will most likely be required to provide a rental bond, which is generally calculated by multiplying the weekly rent by 4. Sometimes, you may also have to pay two weeks in advance rent. In this event, you may need to look into bond loans. The good thing is that there are a number of specialised lenders out there. They can provide personal loans that have been specifically designed for this exact purpose. Nowadays, getting a bond loan can be quite fast with an almost instant indicative approval. The money may be deposited to you within a day or two after the formal approval. And try to get one that allows you to withdraw without any penalty or early termination fees, just in case. It goes without saying that you should find a bond lender that is reputable and well established. It is best that you get the bond loan and other associated expenses sorted once you have set your mind on a place. Do not leave this until the last moment.

Securing the Property

Once you have chosen the property and selected a reputable financial lender, you will need to secure your new home. Firstly, make sure to complete all the agent’s application forms. These are usually available online for you to download. Then, prepare all your references from previous real estate  rentals including proof of consistent and timely payment. Do not forget to dress to impress. Also make sure that at the time, you have the money ready to transfer. Depending on the area, it can be very competitive. You may sometimes need to consider offering just a little more than the advertised rate to get a particular property.

The above is just a general guideline. There are many sites, however, that are more than accommodating to guide you through the entire process.