By: Devmco Realty
Renting a property can often feel like a labyrinth, with countless considerations and potential potholes along the way to navigate. From defining your needs to securing the perfect lease agreement, the process can be overwhelming - especially for first-time tenants.
Five tips that are critical to navigate the complexities of renting
Don't Navigate the Rental Market Alone
Embarking on the journey of renting a property can be a dangerous game of considerations and potential risks. From deciding on preferred areas, to staying vigilant against rental scams - the process can be daunting, especially for first-time tenants. If you have the option to go through a reputable agency, rather opt to have an expert assist you so the process is as smooth (and legitimate) as possible. It also means that once you have found your perfect place to rent – you have an expert who can help assist you with raising issues with your landlord and helping to get these sorted.
Be aware of rental scams
As mentioned, the rental market is littered with scams. Guidance on spotting red flags and conducting thorough due diligence to shield yourself from potential pitfalls is essential. Some great ways to do this are to firstly check the email address used by the proposed landlord or agent for correspondence. Legitimate rental agreements and deposit details should always originate from a professional business email address, that ideally matches the domain of their official business website, such as “devmcorealty.co.za”.
Secondly, enquire about the agent's certification with the Property Practitioners’ Regulatory Authority (PPRA), as certification signifies adherence to professional standards in the real estate industry.
Finally, verify that the agent primarily uses professional communication channels such as email or official business phone numbers for conducting rental agreements, as relying solely on platforms like WhatsApp may raise suspicion regarding the authenticity of the agreement. With a trusted real estate agency helping you, there is credibility and trust that every transaction is transparent and legitimate, giving you peace of mind throughout the rental process.
Assess your budget and credit score
Understand your financial situation to determine how much you can afford to spend on rent. Calculate your monthly income and expenses and review your credit score to ensure you're in good standing with potential landlords. Start saving for the rental deposit early to secure your chosen property quickly. Deposits are typically refundable, so having the funds available will give you a competitive edge in the rental market.
Get your documents together and review the lease agreement
Gather necessary documents to streamline the rental application process. This may include proof of income, identification documents, and references from previous landlords. A rental lease agreement review is essential to ensure that the contract's terms and conditions are fair, accurate, and compliant with all relevant laws. Before signing, both parties must carefully review the agreement to prevent any legal disputes. It's advisable to enlist the expertise of a real estate lawyer during this process to safeguard the rights and interests of both landlords and tenants. Key elements to scrutinize in the lease agreement include rental cost, security deposit terms, lease duration, maintenance responsibilities, rules and restrictions, termination procedures, and legal compliance with applicable laws.
View the apartment!
This might sound obvious but always schedule a viewing of the property before signing a lease. Our sales and rentals offices are opened 7 days a week to ensure flexible viewing appointments for prospective tenants. Take the time to inspect the space carefully, paying attention to the condition of the property and any maintenance issues – such as dampness and mould.
* Devmco Realty is a real estate company on the KwaZulu-Natal North Coast.
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