Renting a house can be a bit complicated most especially if you're on a tight budget. Make it important to go through the decision carefully and plan everything out before making a move. As per BankRate.com, the number of renters increased over the years after the housing bubble collapsed and a high competition for vacancies and higher rents are taking their tolls. Listed below are a couple of tips that would help you out in making a decision in terms of renting your home.
Haggle Over Rent
According to the Co-Founder and CEO if KangaRent.com, Damien Barr, rent is negotiable, though it can only go down for a few bucks, you'd still get to save. Barr made a statement regarding negotiation on rents in which he said: "Everything is negotiable, including the rental price; however, it definitely depends on your local market. If your market is turning around listings in 48 hours, the likelihood of getting a lower price is low. On the flip side, if the unit has been on the market for a month with no movement, that's a pretty good indication that you have some negotiating room."
Get your deposit back
A real estate specialist with Clear Choice Realty & Associates in Los Angeles, Chantay Bridges, stated that renters should learn the difference between being entitled to the refund of the security deposit and getting it back, she gave out a tip saying: "it's a good idea to videotape the apartment before moving in, and take before and after photos."
Check Landlords
It's very important to check with the landlord; it's good to ask around the neighborhood on what your landlord is like, though you have to take into consideration that not everybody likes their landlords, but at least you'll get a hit on how they deal with their renters.
Though the tips above are helpful, Investopia then stated some of the factors that needs to be considered in renting:
- your current income
- appreciation
- leverage
- tax advantages
