Check List: What You Need To Know When Renting Your First Property

Moving away from home and into your first property is an exciting and life-affirming experience. However, it can also be a difficult and demanding process too, especially as everything will feel rather unfamiliar.

What’s more, renting a property on your own for the first time is a big deal, which comes with major considerations and responsibilities. Thankfully, once you have settled in and can start enjoying your own space, it will all be well worth it.

Check List: What You Need To Know When Renting Your First Property

But, before you get there, it helps to have a checklist that covers all bases, which property finder service ForRent has provided below.

  1. Understand your upfront costs

Even though you won’t need to stump up a hefty wad of cash to buy the property, there are still some upfront costs involved with renting. For example, you will probably need to put down a security deposit before you are allowed to sign the lease. Then there is the possibility of application fees and maybe even one month’s rent to guarantee the property.

  1. Understand your long-term costs

Along with your monthly rent, you will also need to make provisions for essential utilities like heat, gas, and electricity. Your landlord may even make it a requirement for you to have renter’s insurance as well. However, this is a good idea anyway, as it protects you against accidental damage, theft, and disaster.

  1. Know what you need

It is easy to get carried away with furnishing your brand new place with La-Z-Boy recliners and a big TV. But your priorities should be things like a comfortable bed along with tables and chairs for eating. Don’t forget about cookware and utensils either, otherwise you will end up spending a fortune on delivery food and take-out.

  1. Know what you don’t need

For many people, moving out represents a fresh start to get rid of unnecessary clutter, but others will struggle to let go of certain items and bring countless boxes with them. However, you should use this opportunity to purge, as all that junk will no doubt get in the way when you are trying to decorate and get organized.

  1. Read the lease terms carefully

You might find the prospect of reading over your lease terms quite dull, but it will provide reassuring peace of mind and makes great practice for other contracts later on in life. Don’t be afraid to ask questions or enlist the help of a family member to check it over as well.

  1. Get set for moving day

Several people say that moving is the next most stressful thing after a family member dying. Therefore, it helps if you can plan the day in advance as much as possible. Hiring a moving company is your best bet, as they will have been through the process a thousand times before and can get the job done quickly. But if your budget doesn’t stretch that far, ask a friend to help in exchange for pizza and beer once you have moved in.