Rental Properties – The Search Continues

thompson properties

Rental Properties – The Search Continues

Over the past few weeks, in this column, we have spoken about various important elements of a victorious lease arrangement. We have spoken about…

Using Registered Estate Agents
Avoiding bogus agents
Having a clear, professional Lease Agreement
And Finding available properties

So as you begin your search for that new home to lease, what must you look for?

Your search has a greater chance of success if you take a few minutes to work out your rental property goals, beforehand.

Ask yourself the following questions…

What is my budget? How much can I afford to pay on a monthly basis?
What kind of property do I want? A house, a farm, a flat, a townhouse, a commercial property, a cottage, or something else
What property density are you looking for? Low, medium, or high density
Which suburbs do I like? Which ones do I hate?
What are my “non-negotiable”?

Non-negotiables” are the things that are really important to me for my home. These will vary from person to person. If you have a large family you may need a 4 or 5 bedroom house, where a single person or a married couple, without children may consider a 2 bedroom house as essential. A person who is a keen gardener may demand a working prolific borehole. Some men may really be looking for multiple carports, a lock-up garage, or a workshop area. In modern society, where people are much more mobile, there are clients who are favouring small, hassle-free, “lock up and go” properties.

Once you decide on a list of “non-negotiables”, you may need to review that list as you begin viewing properties. Sometimes you will discover that one or two of these essential “non-negotiables” end up being a little more negotiable than you first expected. You may find a house that is almost perfect, it’s just missing one element that you really wanted. Are you able to overlook that, when everything else is what you want? It’s a judgement call that many Renters have to make.

Asking yourself these questions will really help you to begin to focus on seeing properties that are more suitable to you and your family. A little work done at home, beforehand, can bring a lot of clarity to the situation. You will then be unlikely to be swayed by an attractive property that really will not work for you in the long run.

As a Registered Real Estate agent, I have received many calls from clients asking, “Do you have any homes for rent?” So often they don’t know how to answer the question, “What are you looking for?” Without this vital information it becomes very difficult to meet their housing needs.

There is a common saying that says, “Forewarned is forearmed!” This means prior planning and knowledge of possible dangers or problems gives one a tactical advantage. Give yourself all of the tools you need to have victory in your search for that perfect rental property.