It can sometimes become a challenge knowing where to find your next rental property home or to even know if a certain rental property is the one for you. And not only can it be difficult, but it can also be pretty time-consuming especially as more and more people are beginning to rent. According to HGTV, “roughly one-third of all Americans rent, and while many of them are in early adulthood, many are also families, empty nesters, and seniors.” However, there are rental properties for all types of budgets and households. So to help make your process easier, here’s a few tips that may help:
- Determine What You Can Pay
Before beginning your search for a rental property, it’s important to lay out your budget and determine how much you would be willing to pay. No matter what your price-point number happens to be, make sure that number is no more than 30 percent of your income. You need to make sure you will have enough money for your other expenditures such as grocery costs, commuting costs, savings, and other expenses after paying your monthly rent bill. Keep in mind there may be other costs that might need to be included in your payment plan.
2. Brainstorm The Features You’re Seeking
After setting your budget, it’s important to layout on paper what exactly you are looking for. Whether that be the number of rooms and bathrooms, an added fireplace, kitchen add ons, a patio or deck in the backyard, house parking vs. street parking, etc. Not only should you include the features you are looking for, but it’s also important to include items you would be willing to compromise with. You need to remember that what you end up settling for, might not have everything you first included on your wish list, however, it may be the best option for you.
3. Map Out Your Day
It’s important to take a look at the general area you would like to live in and find properties within that area. However, while you are doing this, take a look at what happens around that specific area as well as what businesses and locations are around. Know what you would be getting yourself into if you did end up choosing to live in that specific part of town. Then make a list of which properties you would like to view first and continue on with a list. This way you can make the most out of your time and day. It’s also important to talk to the landlord of every property you would like to visit to make sure you can visit all the properties wanted in one go-around.
4. Choose Your Rental Type
This step will differ depending on how long you are expecting to live there as well as how big you are wanting your rental to be. There will always be a wide variety of different types of rental homes for you to choose from. It’s just finding the right one for you that can get difficult. However, you can usually find a wide variety of properties within your needs that you can continue to narrow down as you go throughout your process. If you are having a hard time determining which rental type is for you, try listing out all the pros and cons for each!
5. Tackle The Application And Approval Process
After you’ve narrowed down all your possible outcomes and found the rental property you are ready to call home, you will need to follow through and talk with the landlord. The landlord will take you through a process to see if you fit their standards and qualify to rent out their property. Some things you should expect during this process include, completing your background check, negotiating a lease agreement for the property, providing a security deposit, as well as completing some of the other end cap fees.
By following this simple 5-step process, you can make finding a rental property a better experience for you and your family. Remember to check out our Keyrenter Tacoma properties and get in touch with us before going anywhere else.