Finding Your First Rental Property: Top Tips For Tenants

It is a daunting task trying to hunt for a house or spare room if you’ve never experienced it before. Whether you are moving to a new job or you’re looking to gain independence in your own place, becoming a first-time renter can seem complicated at first. You may be unsure of what the average monthly prices in a particular area and you really you can’t afford to get caught out. Although renting can seem like an annoying expense, it is inevitable that you will have to spend some time as a tenant before climbing your way up and onto the property ladder. There are a handful of things to consider when picking your perfect first place so take note.

Location, Location, Location

Getting the location correct when moving into your first rental property is something you don’t want to neglect. Consider the reasons why you are moving. Do you want to be closer to family? Do you want to be near a new job? Are you looking to take up a social activity in a particular place? Map out the potential places that would work for you and weigh up your different options. You should try and work out your commute to work and work out if living further away would save you money on rent and travel expenses. Sometimes it’s worth living further out of a city or built up area as the living costs are lower and the properties are more spacious. Make a checklist of the things you want from your ideal first property and make compromises based on what it most important to you. For example, you might not mind being an hour commute from work, but it’s really important that you have a parking space. Focus on what is essential for you and you will be able to decipher a good location from these decisions.


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Ask The Experts

Once you have figured out where you want to live, seek out a local Property Management Company. They will help you to find a place and will ensure the moving process runs smoothly for you. You might need to gain references from your current employers or previous landlord. This can sometimes be tricky if you have never been a tenant in a rental property before. The experts at the estate agents and property management companies will be able to advise you on what references you might need and what a particular landlord requires. By all means have a browse online, but try and go in and speak to them in person and they may have some bargains you’re unaware of!

Plan Your Pennies

It can be easy to get carried away at the prospect of moving into a new place, so make sure you have set yourself a clear budget. You will need to plan ahead and have some money saved for a deposit too. Make sure that you’ve scoured other rental properties in similar areas, to make sure you’re getting the best deal out there too. Don’t be afraid to negotiate the price either, if the landlord wants a quick rental they may be willing to lower the price for you.

Make sure you take your time when choosing your first rental property and don’t rush into anything you’re not completely happy with. Speak to a professional if you’re unsure of anything and you’ll be in for a smooth transition into your new place.

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