Before beginning your search for a rental property, it is essential to identify what you are looking for and write it down in a brief. You can get lost in choice unless you set some clear parameters. Of course, you can change your mind, but knowing what matters most to you will allow you to start your journey with your best foot forward.
In this blog, our property managers outline six critical considerations when looking for a rental property.
Create a clear map of ‘preferred’ and ‘potential’ suburbs to establish your search area. Location equals lifestyle, so look at factors such as transportation, access to schools, facilities, amenities, and demographics. You can live in an extraordinary house, but the area may not match your lifestyle or needs.
For help choosing one suburb over another, search and read suburb guides to help you match your brief with a neighborhood. Once you have found a property you like, do a drive-by to make sure you are happy with the area before booking an inspection.
Open for inspections
Attend open for inspections in person — viewing a property ensures there are no surprises and allows you to ask the agent any questions you may have. Inspect the entire building and its facilities, including common areas like the car park, recreational facilities, lifts, etc.
Make sure you are on time for viewings — this will put you in good favour with leasing agents and property managers, who often have multiple viewings in a day and have to stick to a tight schedule.
List your requirements — for example, bedrooms and bathrooms, land size, type of dwelling, yard size, design elements, etc. Pay particular attention to the size of the rooms. Take a tape measure with you to inspections, so you can determine whether your furniture will fit.
Bear in mind that older properties tend to have low ceilings, defined spaces (as opposed to open-plan layouts), narrow garages, and tilt garage doors that can take up more space. Keep an eye out for security features on windows and doors and in common areas.
Areas of compromise
Note your areas for compromise — what you want on paper may not be realistic. Take the time to understand your wish list. Requirements may include the number of bedrooms and bathrooms, land size, type of dwelling, yard size, design elements, Feng Shui, etc. State what elements are must-haves and what are nice-to-haves.
While knowing your requirements is incredibly important, it is also essential to keep an open mind. Location and the lifestyle it provides may be more important overall and in the long run than curb appeal and a bathtub.
Know your budget so you can establish what you can afford. Then think about what you would ideally like to spend. Don’t forget to factor in lifestyle costs where necessary when looking at properties too.
Make sure your income allows you to pay the rent and live your life – don’t stretch your finances too much so extra pressure is on you when you have celebrations or holidays.
Look for a property managed by a trusted professional property service. Property managers act as conduits between tenants and landlords, handling inspections, leases, rent payments, legalities, and day-to-day demands. All tenants can benefit from fostering a healthy and productive relationship with their property manager.
Our property managers live and work within the communities they service and have superior local knowledge to guide you and facilitate positive and beneficial renting experiences.