Renting your first house can be really exciting! You have a backyard to yourself, you might have all your decorations laid out, your’e are pump, and ready to find your house! Since it is your first time you are going to want to make sure you get some tips before you sign that lease. Here are five tips before you rent your first house:
- Is the rent something that you can really afford
This may seem like an obvious thing, but you really need to take account into what you will be spending every month. There is a great tip that says your rent should not be more than 35% of your gross. Following this tip will leave you in a comfortable spot rather than having to be just cutting it each month.
- Real Estate Agent
Real estate agents are not just for the buying and selling process they are there for the renter world as well. They can help you find the house that fits your lifestyle right now. Who knows maybe you will end up really liking your realtor and keep their phone number for when you are ready to buy a house of your own!
- Know the process
There is a lot to go into when you are renting a house. There are application fees, credits need to be run, and usually a background check is needed. The person who is putting their house up needs to make sure you are a reliable person and going to keep their house up to standards. If your credit isn’t too great a co signer might be need.
- Review Review Review
Before you sign the lease review everything. This should be a forever rule before you sign anything, but something especially for a contract that has you pay monthly for an x amount time. Top things to look at are the: move-in fees, rent increase, subletting, notice of lease termination, miscellaneous fees.
- Get a renters insurance
This is always overlooked, but it definitely should not be! Some leases require it which is always smart. Some insurances will give you a discount when you bundle your renters insurance and your car insurance.
Hope this helps on your renters adventure! If you ever need help never hesitate to call me!