Signs That a Rental Home May Not Be a Good Fit
Rental homes are ideal for people who aren’t yet ready for the financial burden of homeownership and individuals who relocate with a fair amount of regularity. Of course, this doesn’t mean that every rental property you find yourself considering will be equally suited to your residential needs. As anyone who’s found themselves in a less-than-ideal rental situation can attest, it pays to do some research before filling out any paperwork. So, if you’re currently in the market for a good rental home, be on the lookout for the following signs.
The Location is Inconvenient
It’s easy to see why most people want to live in popular areas. In addition to having low crime rates and robust local economies, such areas often provide residents with an abundance of local activities and attractions. Unsurprisingly, however, such areas tend to have a high cost of living compared to out-of-the-way neighborhoods and rural locales.
When seeking out the ideal rental home, it stands to reason that you’d want to be said home to be located in a place that’s accommodating to your lifestyle. For example, if you enjoy going out and having a good time, an area with the amazing nightlife is certainly worth considering. On the flip side, if you fancy yourself more of a homebody, a rental home in a rural area may be better suited to your needs.
There’s also the matter of your job to consider. Many people want to live as close to their respective places of business as possible, as this ensures favorable commute times. So, even if it means spending a little more, you may ultimately find renting a place located within easy driving distance from your office to be a worthwhile expense. Additionally, if you have children, it’s only natural that you’d want them to attend the best possible schools. So, when seeking out prospective rental homes, make sure to consider the school districts in which they’re located. Texans on the hunt for Dallas homes for rent are unlikely to find a shortage of conveniently situated residences.
The Home Has Been Poorly Maintained
You shouldn’t have to live in a rental home whose landlord and/or previous residents treated maintenance like an afterthought. So, if there are any outstanding electrical, plumbing or structural issues with a rental home you’re looking at, you have every right to inquire about why these problems have yet to be addressed. If you really like the home and/or location, insist that the landlord fully repair any outstanding maintenance issues before you move in. You can even make fixing these problems a prerequisite for your tenancy and refuse to sign the lease until such time as the proper repairs have been made.
The Landlord is Impossible
While good landlords certainly exist, they’re often overshadowed by property owners who are dishonest, disingenuous and outright unpleasant. It seems like every longtime renter has at least one horror story about an impossible landlord, and if you’re not careful, you may find yourself trapped in a lease agreement with one. To help prevent yourself from becoming stuck in such an undesirable situation, do a little bit of research before agreeing to rent from someone.
First off, go online and seek out feedback and testimonials from other people who have rented from this landlord. If the landlord in question owns numerous properties, feedback should be relatively easy to find. Keep in mind that the more renters this person has, the more likely they are to have a bad review or two – and it’s certainly possible for renters to be in the wrong. However, if the vast majority of feedback you come across is negative in nature, it’s probably a safe bet that you shouldn’t do business with a certain landlord.
You should also be extremely mindful of the way a landlord conducts themselves during a property walkthrough. If they actively downplay obvious problems with the property and/or minimize any concerns you put forward, this isn’t a person you want to enter into a rental agreement with.
Also Read: Emerging Technology for Rental Properties in 2022
When searching for the right rental home, it’s important for you to remember that not every property is going to be a slam dunk. For every prospective residence, you find appealing, there are liable to be two that are poorly suited to your needs. Since renting a home will more than likely require you to sign a lease, make sure that you’ve ruled out any potential red flags before committing to this arrangement.
Pranab Bhandari is an Editor of the Financial Blog “Financebuzz”. Apart from writing informative financial articles for his blog, he is a regular contributor to many national and international publications namely Tweak Your Biz, Growth Rocks ETC.
