A Guide To Finding Great Value Rental Properties

| June 23, 2015 | 0 Comments

For many people, buying a house simply isn’t an option. With house prices racing skywards and mortgages becoming more difficult, the first step keeps getting further away. Getting on the property ladder is now more difficult than ever before. With that in mind, there is often only one alternative: renting.

Renting can be a tricky business, and it’s not easy to find value for money in this market. We’ve pulled together some expert tips and tricks to help you on your search.

Set a budget

First of all, you need to set a strict monthly budget. Take into account your current outgoings including car expenses and others. Work to a number that is comfortable for you. Don’t get coaxed into paying more for your rental and struggling to make payments. Once you’ve got a budget, you can narrow down your search criteria.

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Research the location

Location is the single most important factor in securing value for money. Opt for the exclusive areas of town and you’ll pay much more than you’d like. On the other hand, you might find a bargain, but it’s stuck in the shabby parts of town. What you’re looking for here is the areas on the brink of regeneration. Look for areas that are relatively cheap, but show signs are redevelopment. Look for amenities, travel links and local schools.

Speak to a number of letting agencies

It’s wise to consult a variety of estate agents when looking at rental property. Don’t settle with the first company you speak to. Get a range of options from four or five companies. Be sure to ask about their admin fees and get a sense for their attitude. Every agency has a different range of properties, so be thorough and take your time.

Inspect the properties

Of course, you wouldn’t sign anything without looking around the house first. The trick is to thoroughly inspect the property. Don’t just look, test every part of it. Turn the showers on, flush the toilets, and check the fixtures and fittings. You don’t want to find any surprises when you move in. Make sure there are no obvious repairs or problems on the brink of failure.

Ask the right questions

The best renters ask their estate agents a ton of questions. This process is essential if you want to avoid surprises when you move in. Find out where bills are included in the price. Ask about the broadband speed, the council tax charges and refuse collection. Make sure you know who to approach with repairs and who handles the cost. Ask about the neighbours and any information about the landlord if they’re not present. Don’t be afraid to ask anything that’s on your mind.

 

Check for additional fees and energy efficiency

Make sure you have a sound understanding of the agency’s fee system. Most companies charge a finder’s fee, an admin charge and require a deposit. It’s also a good idea to ask for energy efficiency stats. That way you can get a sense of how much the house will cost in heating charges.

Finally, don’t forget to negotiate! It won’t always work, but if you don’t ask, you don’t get. There are sensible ways to find value in renting. Follow this advice and don’t get caught out.

Category: Estate Plan Trusts

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