When renting a property, it is necessary to observe some points that, up ahead, can make a lot of difference. We’ve listed some of them for you to prepare. Living on a rental property is still the reality of many people. In a country where the dream of owning a home is part of people’s lives, there are still those who by choice live in a rented property or those who really cannot afford to buy their own home. Here are precautions to take or better still use the help of realtors like 33 Realty to guide you
- Don’t Rent The First Property You Find
Precipitation is not good in any case, not even when renting a property. Search a lot on websites, walk in the vicinity of where you want to live – there are still many owners who do not place the ads on the internet, or look for a real estate agency and analyze all the options it has.
Warranties are generally requested for this lease to protect the lessor or even the tenant when renting a property. They are the most common:
Guarantor: This is still one of the best-known forms of guarantee, although it is not used as much anymore. In this modality, a third party is obligatorily responsible to the creditor; he is the one who will be charged in case of default of the contract.
Surety Bond: Less common, this option is not so popular, although it is growing in new contracts. Here the lessor is represented by an insurance company. There is an amount paid monthly, and, in case of default, the property owner receives payments through the insurance company, guaranteeing the lease amounts.
Deposit: You’ve probably heard of this type of guarantee. In this modality, the lessor advances the equivalent of 2 or 3 months of rent as soon as the contract is signed. The amount can be used to guarantee the last months of the rent if the contractor decides to leave the site and notify in advance, and it can even get stuck if there is damage to the property upon its return.
- Property Conditions
The tenancy law is evident regarding the state of conservation of the property. It determines that the property is in good condition for living. This means that the sanitary parts must be installed on the property, and the light and water connections must be working correctly. There must be no infiltrations, leaks, or molds that could risk health or life for those who live in the area.