5 Ways To Get The Best Value From Renting Property

Residential Lease Agreement

Your monthly rent payment is always the most expensive outgoing in your budget. It’s really important that you find a great deal that you are comfortable with.

The perfect balance is tough to find! You want the dream apartment, with strong transport links and plenty of space. Yet, you want it to come under budget. The last thing you want is to have to scrape together the monthly payments!

Today we’re going to show you how to find that elusive balance. It will take a bit of hard work and searching, but it’s worth it in the end. There’s no better feeling than coming across a bargain and setting up your home. So, without further ado, let’s jump into the five ways of getting the best value from your rental property.

1 – Location

Location is the single most important factor when it comes to snatching a bargain! Rental prices vary wildly – even within the same city – depending on location. Naturally, some locations are more desirable than others, and come with a price tag.

Instead, look for the up and coming areas close by. Look for good transport links and signs of urban redevelopment or regeneration. Rental prices usually lag behind a little, so you can snatch a great price in a fantastic new location. But, only if you know where to look.

2 – Research

Once you have a location in mind, it’s time to immerse yourself in research. The only way you can snatch a bargain is if you know how to spot one! If you’ve set your sights on London, spend some time on and get to know the market.

Understand what properties are out there and get a sense of the average prices. Only when you have done this, will you be able to jump on a great value property.

3 – Always look around the property

Before you snap up the first cheap rental property you come across, arrange a viewing. If the rental price seems low, ask yourself why? A thorough check of the property is essential.

A great price is useless if the house needs constant attention and causes trouble. We understand that in city centers, houses fly off the market fast. However, don’t feel rushed into buying something. Look before you leap.

4 – Consider all the options

Again, do your research around what options are available. Have you considered contacting private landlords. Although this doesn’t come with the security of agencies, it could work out cheaper. Browse the personal ads in newspapers and scout around online.

5 – Understand the contract and make sure your deposit is secured

Follow the steps above and you’ll find a bargain eventually! However, don’t get caught out by the contract or agreement. Make sure maintenance and repairs are covered by the landlord. Understand how far you can go with decorating and redesign.

Ensure there’s a full inventory too. Most importantly, make sure the deposit is secured by a third party company. This is the best way to secure a safe return at the end of the tenancy.

There’s a whole world of great value rental properties out there. You just need to know where to look. Take the steps here and you’ll be well on your way to a fantastic bargain rental!

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Poppy loves personal finance almost as much as she loves her two cats, Tif and Taz.
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