Finding The Right Rental Home

Posted 2013-09-16 by Justine Crowley ⇒ follow

Great houses are out there

It can be challenging, even in the luckiest of times to find the right home to rent, and to honestly find the right one that will become home for you. Be prepared, considering that depending on how great that home and/or the asking rent for that particular home is; chances are you might be up with some serious competition.

The grass can be greener on the other side, and with the right rental home.

1. Where you are now

Absolutely. Before you get too enthusiastic, and head on out house hunting; take a real stock of your current financial and living situation. To live in any home worth living in, it is important to have a buffer of cash behind you, just in case your work, or any other area of your life that is most important to you, goes pear shaped unexpectedly. That way, you're less risk to the representing managing agent/property manager, and to your landlord. The landlord is assured that you have back up funds available to pay your rent early, if not on time. Furthermore, write down what you like and dislike about your current home. Focus on the likes, and also write down what you want your ideal/next rental home to look like. What area? Size? Are pets allowed? Sometimes a compromise is necessary to achieve what you want.

Take stock of your current financial situation

2. Impress

Have your paperwork organised in advance. Show evidence of both your assets, as well as your liabilities. If you're a landlord yourself, have copies of your last six months rental statements prepared, as well as bank statements, and create a personal balance sheet. When people know their incomings and outgoings, they're in control. A neat application impresses, and also have your references and bond money ready. Agents want to move, and they want to move quickly.

Be prepared

3. Rental Rewards

Smart renters can pay their rent via Rental Rewards with their credit card, or via bank transfer, and earn points that can be redeemed for rewards. This program operates no different to any frequent flyer program. With credit card transactions, transaction fees do apply, and therefore take this into consideration when applying for a place with a certain market rent, and add a buffer to that. It all makes sense, as for the majority of us, the expense of having a roof under our heads is the most significant (and largest) expense in the household budget indeed.