Finding Your Ideal Rental Property

Latest update: 08 June, 2022

Finding your perfect rental property might take you a while. However, taking the time to sit down and work out what you want from your new home before you begin your property search will pay off in the long run. These handy tips for finding your ideal apartment will help you remove the stress from the rental process and get you into your dream home.

What Makes Your Perfect Property?

Before embarking on your hunt through the market for your rental home, take the time to think about what the right property needs to offer to make it an ideal place for you to set up a home. Think about your lifestyle, must-haves, what would be nice to have but not essential, and deal-breakers. These are some of the considerations to take into account:

Budget

It can be tempting to plunge in at the deep end and look for the perfect home before reviewing your finances and working out what you can afford. It pays to figure out a realistic budget for rent once you’ve worked out other living costs.

Budget for the first month of rent to be paid upfront, make sure you have whatever you’ll need for a security deposit, and budget for closing costs. Once you’ve worked this out, you can begin your search without the disappointment of having to say no to unaffordable apartments.

Location

Taking a strategic approach to finding a location that is the right fit for you is essential for finding a great home. Think about your commute; look at accessibility to public transportation and other vital amenities and services in the local area. Scour the local market and make sure the asking price of rental properties in the area is affordable. If you’re a swimmer, is there a local pool? Are there supermarkets within a short drive of the apartment? How far are you from friends and family? If you have children, is there a good school nearby?

Property Layout

If you are moving because your current home no longer meets your needs, consider how many bedrooms and square footage you need from your new apartment. 

Will a one-bedroom apartment suit your needs, or would you like a second bedroom? You may need more space to accommodate home working or, if you enjoy entertaining, somewhere with enough room in which you can comfortably host guests. 

Other tenants

Consider the needs of other people with whom you might be choosing to move in. You may be beginning to flat-share with friends, choosing your first home with a long-term partner, or even moving into an existing house-share. Even if you’re looking to move into your perfect apartment on your own, it’s worth considering whether or not you’ll be looking to gain a roommate in the future to help with the costs of renting the house. If you’re in a relationship, think about whether your partner moving in with you is a realistic prospect soon.

Set Your Apartment Search Credentials

With your priorities set for your perfect place, it’s time to begin searching listings. You can do this via a local estate agent, who will look for rentals within your cost bracket, or begin your search online, making it easy to compare prices and find places containing your essentials.

For example, if you need a property that allows pets or a bathtub, then setting those requirements as part of your search is essential to prevent you from wasting your time viewing unsuitable properties. Likewise, all property websites and real estate agent offices can help you find your dream place in your chosen area of the city.

Keep Notes on Your Search

Taking notes on your apartment listings is essential as it helps to keep your search organised. Ticking a checklist off as you view properties and removing apartments taken off the rental market will help you keep your search targeted and on track. In addition, be aware when a new place is listed. The competitive market makes it an important thing to arrange viewings of housing you’re interested in as soon as possible.

Be Prepared

Once you have located your ideal place, you’ll need to move quickly to secure the lease. Have the paperwork you’ll need to pass your reference checks, such as bank statements and proof of income, already prepared. Your new landlord or real estate company can get the ball rolling and ensure your tenancy starts as soon as possible.

Make sure you are upfront about any circumstances that might negatively impact your ability to pass the checks, as this will ultimately work in your favour.

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