Renting a Home for the First Time
Renting your first home can provide freedom and independence but while it may seem relatively straightforward and simple, renting comes with many pitfalls. Consider the fact paying your rent late can do significant damage to your credit. New renters with no understanding of the process can quickly find themselves dealing with certain unpleasant realities of adult life. As enjoyable as your newfound freedom is, it is important to consider the responsibilities that come with renting.
Here are a few tips that can make your experience as a first-time tenant a a good one:
€ Consider all the Costs
Plan for the costs that come with renting and figure out what is affordable. Note that the monthly rent is just one of your expenses; for example, your landlord will probably require a security deposit. This serves as insurance to cover repairs to the house after you leave; your security deposit can also cover unpaid rent. When you leave, the landlord will deduct these expenses from the deposit. If there is no damage and no rent owed, the money will be refunded.
Realtor.com suggests that you discuss the costs with roommates. Everyone should be on the same page when it comes to how much they will pay and on how recurring expenses will be handled.
€ Make a List of Priorities
Location is one of the most important factors when seeking homes for rent in Nashville TN. Do you have a car? If yes, then you will need to think about your commute to work. If you rely on public transportation then the distance to the nearest Nashville-MTA stop is important. Do you have a pet? If so, you will need to look for places that allow pets; according to Frontdoor.com, you should budget for a pet deposit. Keep in mind that some landlords have breed restrictions so that if you own certain dog breeds (pit bulls and Rottweilers, for example) you may not be welcome.
€ Inspect the Home
When looking at homes for rent in Nashville, TN, evaluate the properties you see just as if you were purchasing them. Kiplinger's says that you should never rent without visiting the property. When you do, inspect the appliances and look in all of the closets and kitchen cabinets. Try the faucets and flush the toilets to make sure that they all work. Do not sign a lease until you have thoroughly evaluated the home.
Because renting can have a major long-term impact on your financial life, the process should be taken very seriously. This is especially so for your first home since this is where you are most likely to make mistakes.
Here are a few tips that can make your experience as a first-time tenant a a good one:
€ Consider all the Costs
Plan for the costs that come with renting and figure out what is affordable. Note that the monthly rent is just one of your expenses; for example, your landlord will probably require a security deposit. This serves as insurance to cover repairs to the house after you leave; your security deposit can also cover unpaid rent. When you leave, the landlord will deduct these expenses from the deposit. If there is no damage and no rent owed, the money will be refunded.
Realtor.com suggests that you discuss the costs with roommates. Everyone should be on the same page when it comes to how much they will pay and on how recurring expenses will be handled.
€ Make a List of Priorities
Location is one of the most important factors when seeking homes for rent in Nashville TN. Do you have a car? If yes, then you will need to think about your commute to work. If you rely on public transportation then the distance to the nearest Nashville-MTA stop is important. Do you have a pet? If so, you will need to look for places that allow pets; according to Frontdoor.com, you should budget for a pet deposit. Keep in mind that some landlords have breed restrictions so that if you own certain dog breeds (pit bulls and Rottweilers, for example) you may not be welcome.
€ Inspect the Home
When looking at homes for rent in Nashville, TN, evaluate the properties you see just as if you were purchasing them. Kiplinger's says that you should never rent without visiting the property. When you do, inspect the appliances and look in all of the closets and kitchen cabinets. Try the faucets and flush the toilets to make sure that they all work. Do not sign a lease until you have thoroughly evaluated the home.
Because renting can have a major long-term impact on your financial life, the process should be taken very seriously. This is especially so for your first home since this is where you are most likely to make mistakes.
Source...