This is a fact that the majority of the population lives in rental properties. There are many advantages of renting a property rather than buying it on first hand. Not only for the living, even if you are starting some business or want to build your office in commercial property, but it is also always advisable to rent the property. The real estate industry is primarily running on real estates rental. It means that much real estate property was constructed just for renting out to other people for living and business. This helps to help to keep money floating and the financial wheel of real estate remains in movement. But renting a perfect real estate rentals is not as easy as its look. If you will not make the right and calculated decision, you can be in a problematic situation. There are certain tips that real estate experts recommend to people to do, before renting a property.
- See with your eyes: One must physically see the site in person. Even you trust your property agent but never rent a site without seeing. As you might be having a different perspective about the property by the description given by your property agent or the photos you have seen. Maybe in real, the property seems different and you can find it unsuitable for your purpose.
- Physical Inspection: This is critical as if you are using the student housing in Geelong but you have t inspecting it before finalizing the deal. There might be a possibility that it was damaged before your acquisition but now you cannot prove to your landlord that it didn’t happen because of you. As per law, the tenant has to pay for any damages happen to the property during their using. Firstly, even asking about the rental amount, you must thoroughly inspect the property. The not only property even all the fixtures that are installed in the property, but must also be checked. It is recommended that you can take a property surveyor among you as they are expert in a property inspection.
- Read your lease: Documentation will always help to save your back. Might be you be renting the property for years to come. It’s better to have all the required detail on paper like rent amount, yearly increment, notice period etc. There will be terms and condition given by the landlord in the lease, one must critically read the lease and even better if you can take help of property lawyer. As long as all the terms will be understood and clear to you, till that time don’t sign the lease. You must also negotiate on the given terms to make them more favour and for you.
- Documents: Always verify the property documents before signing the lease. One should check with the people living or working in the neighbouring properties about the history of said property. This can help you to confirm that property is not disputed or ever used for any illegal activity.