Whether you’ve found a new job across the country or simply think you need a change of atmosphere, finding a new home for rent is a common process most people will go through at some point in their lives.
Don’t think that renting is merely about paying the monthly rental fees. There’s a lot to consider in such a life-changing decision. Here are 5 major considerations to be taken when you are searching for your new home.
1. The Monthly Rental Cost
Regardless of how nice a property looks on a website, it won’t be any use to you if it’s out of your budget. Moving isn’t an inexpensive process, so before agreeing to rent, save up enough to cover the upfront costs and any long-term charges that may be applicable.
Common upfront rental costs include:
- First and last month’s rent
- Moving costs
- Deposits and new user fees for utilities if you are paying for them
- Any additional costs for furniture and household items required for the new premises
Some long-term costs, in addition to rent, include:
- Monthly payments for items such as utilities, parking, groceries, gas, and other month-to-month expenses if and when applicable.
Generally, your rent payment should not exceed one third of your net income. Keep in mind that if your income documentation does not represent the above, the landlord may not trust you can pay your rent on time.
2. The Rental Location
We often recommend you choose an apartment, house, property, or condo for rent that’s in your price that is also close to highways, good schools, public transit, as well as amenities like grocery stores, restaurants, and other useful locations.
If you’re looking for something more isolated, living close to the amenities you need most may prove useful to you.
3. Downsizing Your Inventory
Moving is a big lifestyle change. Use the opportunity to downsize your possessions. Prioritize which of your belongings are worth keeping and which are simply taking up space. Floor and closet space will likely become an issue over time as you continue to purchase new household items.
If you’re moving to a smaller location, it will be convenient to downsize or you will need to rent storage space to store your superfluous possessions. Don’t forget, renting storage space is an additional cost that you’ll need to budget for.
4. Have Your Documents Ready
Before you can successfully rent a new apartment, house or condo, you’re going to need to gather a few documents. Some examples of documentation requested by a landlord are as follows
- A picture ID such as a driver’s license
- Proof of income, pay stubs, and other income verification
- Professional references from past landlords or managers
- A recent credit check, or the means to obtain a new one
You also have to consider the rental contract itself. Take the time to understand everything your rental agreement entails, as it lays out your rights and should clearly outline all pertinent details to your rental arrangement with the landlord. Now is the time to ask questions i.e. pets, roommates; not after the rental agreement is signed.
5. Note the Condition of the Place
One thing many people don’t think about when moving into a new place is to document the condition that the property is in when they move in. Documenting damaged areas is an essential way to protect yourself should your landlord try to accuse you of causing damage that you didn’t do.
LeaseOurHouse.com provides all tenants with a detailed Home Inspection Form that highlights the condition of a property at the time of move in, saving you from potential headaches at a later point.
- Plan out how you will be moving. Will your friends help you ship everything via car, or will you be contracting a moving company?
- If you own pets, know your landlord’s policy on them in advance.
- Look for landlords that respect your personal space and right to privacy.
LeaseOurHouse – Ontario |Scarborough, Markham, Barrie, St. Catharines, Kingston, Ottawa – Ontario
If you’re looking for an apartment, house, property, or condo for rent in the Ontario area, start your search with LeaseOurHouse.com.
Our online rental platform features up-to-date listings to save you time and money and helps you find more secure ways to pay first and last month’s rent.
- Renting out a new living space is a big lifestyle decision that requires careful planning.
- Consider the cost, location, paperwork, and landlord’s policies before signing your rental agreement.
- Look for new apartments, houses, properties, or condos for rent on LeaseOurHouse.com’s secure, economical and convenient online listings.
Finding the right apartment, house, property, or condo for rent with LeaseOurHouse.com is simple. We have simplified the searching process to make it easier than ever.
- Receive exclusive incentives and discounts directly from landlords working with LeaseOurHouse.com.
- Benefit from a transparent and hassle-free rental application process.
- We provide you with a detailed Home Inspection Form.
- All deposits are held by us until you receive the keys, so you never worry about losing your deposit.
- Our LeaseOurHouse.com website offers various discounts on packaging supplies, moving companies, and other related services.
- Take advantage of the easiest rental application and payment process available online. Everything is handled digitally through our app.
Are you ready to start your next property search? Contact LeaseOurHouse.com today to get started.