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How to Choose a Rental Home

When deciding on moving to new place there are a few things to debate: cost, location, size and number of people moving in. Here are a few tips to help you find a good rental home:

Before hunting for a rental, figure out a budget and take a hard look at where your money is going. It’s recommended that most people spend no more than 30 percent of their income on housing costs. Factor in debt, commuting and grocery costs, savings and other expenditures- Now how is the budget looking?

Next, brainstorm with your roommates the kind of features that you are all wanting. Is it important to have a deck, backyard, or fireplace? How about the number of bathrooms and electrical outlets? Will there be street parking or a garage?

Another huge factor is the geographic location: How close is the house to work, school, and your other favorite places? What will your drive time be and how much gas will you use? If you have to use public transportation- where is the nearest bus stop?

When you start to narrow down the location of your new rental home plan on taking your day off to explore. Drive around and check out the local parks, coffee shops, and hangouts. If you walk down the sidewalks, do you feel safe? Don’t forget to research the crime rate for that part of town- Check out sites as of Spot Crime, Crime Mapping, Crime Reports, Neighborhood Scout, and Nixle.

Last but not least, make sure you have good landlords. Look at reviews and talk to the neighbors. Find out if this is the kind of land lord that will jump on a problem right away or ignore it. Remember that you also have to be a good renter yourself. Be respectful and treat the property as if you actually owned it.

You’ve picked a location, found a house, love the neighborhood, and have heard good things about the ownership- Now what? It’s time to fill out the application. Property management companies and landlords typically ask for an application authorizing them to run a background check and request permission to verify your employment, income, and bank accounts. They could also request that you supply pay stubs and references. You typically will pay an application fee, between $25 to $45, and it may take a few weekdays to hear back. Know that leases generally range yearly and there will always be a deposit.

Are you looking for a rental home in New Jersey, New York City and Philadelphia area? Give CAB Group a call!

Posted by: cabgroup on April 19, 2017
Posted in: Uncategorized