When moving to a new place the first thing that comes to our mind is property. People often look for renting a property. However, it can be very difficult to find rental properties in Mississauga. Just like buying, renting also requires you to think before shifting. There are a lot of things that need to be taken into ground before getting a rental property. Below mentioned are the detailed points regarding what is the basic thing that every fir-time renter must know:
- Fence Your Budget: Before moving out you should always plan a budget. Because it is not just paying the rent but also bills and food everything counts in.The very first thing that you should keep in mind is income. If your income or savings are enough to pay the rent then you can think of moving out. With that said, the rent should not be more than twenty-five to thirty percent of what your income.The next things which counts in budget is security deposit and for how much time the landlord is asking advance. Because if he is asking for a rent of two months then it can go out of your budget so there is no point in staying here.What comes after basic rent is something which cannot be estimated. The electricity bills and food, these expenses can be random and can sometime exceed above expectations.Therefore, it is important to form a budget which is does not pinch your pocket.
- Search For the property: After you have decided your budget and set your fence it is time for action. However, searching for a rental property by yourself can be a big hassle because you do not how the landlords are like and how to treat them properly in order to get the negotiations done.Reliable Tenant is Real Estate Company which gives space to tenants and landlords. You can search reliable landlords in Mississauga. With us you can find a good rental property at the desired location.
- Tenants: Clause, Policies, and Rights: When you like a property do not just sign on the agreement without reading always cross check the agreement and read the clause before signing anywhere.Do check if there is a clause which says the rent will escalate after a fixed period. Also, you need to know your rights as a tenant which is you can ask for a full tour of the property and put your terms and conditions in front as well.
- Subletting and Visitors: When you are making a living space the first thing to expect is visitors be it your friends or relative and even colleagues. Hence, it is important to ask a landlord if he allows any visitors and does he charge anything if your friend has to stay over at your place and how many are allowed within the space.The next thing is if you can sublet your lease. Sometime you have to temporarily shift to some other place but you do not want to leave the place permanently in this case with the consent of your landlord you can sublet your condo or space to any other person for the same rental charges for a limited amount of time.
- Moving In: Now you are ready to move at your space. Be vigilant as now you may get to know the things which you won`t have at the first tour. Write letters regarding repair or any other concern to landlord or talk to him directly even with us you can talk to us and our lawyer will inform the landlord.It is suggested that you write your requests and complaints rather than telling it verbally also, make sure that you are writing everything at the first place itself so that you are not liable for the same.Being a tenant it is your right to live in a sound place and environment after all, you are paying for it.
- Decorate and Save Space: This is your home now so it is your responsibility to keep it clean and aesthetic looking. Decorate your condo so as to please your mind also, make sure you dot overdo otherwise it may look more like a store room. Therefore, you need to know how to manage space and keep the essentials as well. Also, go with some storage hacks like keeping organizers and some foldable racks as a savior.
- Be Frugal and Save for your Rent: Since you have started living on rent it is obvious to know that you will have to pay again after certain time period. It is advised to start thinking economical and save your money at the start for paying your rent so that you do not run out of money later.When you live outside your original home it is obvious there is a lot of expenditure then just rent so you need to save money and be a little careful with your spending.
These were some of the key points to keep in mind for a first-time renter. Not to forget the aftermath like keeping up with your neighbors and sticking to the clause and policies of the landlord. Everything is important you need to be conscious about your rental property and should also care for its maintenance and inform your landlord about the same.
Reliable Tenant is a platform for landlords as well as tenants to search for each other. We have lawyers in our team who can help you out finding the perfect counter one.