Many people tend to think that
renting is a cheaper alternative to buying a property. It isn’t true. From
rent, security deposit, to other upfront costs, it isn’t a cheap option at all.
However, first-time renters make silly errors that make it even more expensive.
If you are thinking of renting as well, follow these six steps to escape
the rent trap.
Focus on a leasing agreement
The biggest mistake the renters
make is they don’t go over the leasing agreement. We recommend you do yourself
a favour, and carefully skim the contract. For instance, make sure that the
landlord allows the pet. Because we have seen many cases where people were very
unhappy as they were not allowed to keep their pets. It happened as they didn’t
read the terms properly. However, there is one better option as well. Try out rent to own in Perth. It will allow you
to set the terms according to your requirements as you will be the owner of the
house in the future.
Inspect the Property
Next on the list is skimming the
house. You are going to live on the property, so a casual walk isn’t going to
cut it. As a renter, you have to be extremely careful in assessing if your
things will fit on the property or not. Many tenants do not take the
measurements and then later face serious issues during the moving process. In
some cases, the landlords won’t even give a proper tour. Make sure it doesn’t
happen. There’s one more thing you have to consider to escape the rent trap. See if the appliances, especially gas and
electricity are working properly in the house or not.
Misleading
There are plenty of bad landlords
no doubt. However, there is sort of misleading on part of renters as well.
Mainly, it is due to the short time frame they have to shift from one place to
another. Regardless of whatever the situation is, we won’t recommend you hide
anything. For instance, many renters will add an extra zero in their income for
their application to get approved or will lie they don’t have pets. In many
cases of this sort, people lost their complete deposits.
No Understanding of Renters Insurance
Many people believe renters
insurance to be a false scheme, but it isn’t true. Either you are going for rent to buy homes in Perth, WA, or
simple renting, make sure you buy the insurance. The landlord has insured
his/her property. However, if there is any damage to your belongings, they will
not cover it. For instance, if there is damage to furniture or other
electronics due to a burst pipe, the landlord will only cover the repair for
pipes. The rest of the damage will be your responsibility. This price of
renters insurance may seem a lot at first, but it surely is worth spending the
money on.
Renting can quickly be converted
into a bad experience if you avoid any of the above things. Therefore, if your
end goal is buy your property, we will recommend choosing rent-to-own houses
instead of renting. This way, you’ll be able to prevent these traps. If you are
interested, try contacting Stop Renting
Perth to find your potential dream house to rent and buy later.
