Dos and Don’ts of Finding a Rental

Navigating the rental market can be tough. Depending on where you live, there might be either a ton of options or very few, and price and quality tend to range quite a bit among what’s available. So how do you decide what the right choice is? Obviously you know better than anyone else what your necessities and deal breakers are, but choosing a rental is about more than just checking off a list of amenities. So before you sign a lease and pack up your moving boxes, make sure you’re adhering to the cardinal dos and don’ts of finding a rental property.

Do stay in your budget

How much you want to (and can) spend is going to be one of the biggest deciding factors when it comes to where you rent. Sometimes you may be able to get a much nicer unit if you’re willing to spend a couple hundred dollars extra a month, but if that’s going to mean stretching yourself thin, it’s probably not going to be worth it. The general rule that you should spend no more than 30% of your monthly income on rent is a good one, but based on your own situation, that may be more or less than what you can afford. Take some time to establish your own budget comfort zone before you start looking for a rental, and no matter how tempting a more expensive property might look, stick with what makes sense for you.

Don’t rent based just off what you see online

Most rental searches today are done online, on sites like Doorsteps and Realtor.com. And while an online listing can help you get a good feel for which properties might be a good fit, you can only tell so much about a rental from what you see and read on the internet. Use your online search as a jumping off point for coming up with a list of possibilities, but then make sure to go out and actually visit properties in person. Pictures can be deceiving, and that spacious bedroom you saw online may actually be too small to fit your queen size bed. Or you might find that a nice looking apartment is housed in a building with broken entry doors and dismissive management. There is no replacement for seeing a property in person before you buy, so unless you really can’t make it there (for instance, if you’re renting in another state or country and can’t make the trip) be sure to take do a real walk-through before you sign anything.

Do work with a rental broker

Finding the perfect rental takes a bit of work and a bit of luck, but you can easily streamline the process by using the services of a rental broker. Rental brokers are paid a referral fee from landlords and management companies when an individual they sent their way signs a lease, which means there is no cost to you, the renter, for using one. They can do comprehensive searches for you within the confines of your budget and necessities (i.e. pet friendly, in-unit washer/dryer, etc.) and then return a list of all the existing properties in your desired area that are a good fit for you. Especially if you’re too busy to really dig in and do some research yourself or you’re on a short timeline, using a rental broker can greatly simplify the process and might even result in you finding a better property than you would have if you looked on your own.

Do check out the neighborhood

Sometimes the perfect house or apartment resides in a not-so-perfect neighborhood. It’s important to do your due diligence and inspect not just the property itself but also the area that surrounds it before you sign on to live there. Consider factors like crime rates, access to public transportation (if you’re going to be relying on it), and nearby amenities. If the neighborhood you’d be moving to doesn’t meet your needs, you’re probably not going to be very happy in your rental. Of course there are exceptions, and many people move into not-so-great neighborhoods and do just fine there, but it’s important to know what you’re getting into and to make a decision that considers all factors, not just the rental unit itself.

Don’t settle for a bad roommate situation

Sometimes, choosing a rental also means choosing the person or persons that you’re going to be living with over the term of the lease. You should be sure to ask the right questions of any potential roommates and go over expectations of living together before you commit to sharing your home for the next six months, year, or longer. Questions to ask include what their schedule is like, whether they smoke or use drugs in the property, how often they like to have people over, and anything else that might have an effect on your own life. You’ll also want to be sure they can reliably pay their rent on time, which usually requires a steady income. If a roommate situation raises red flags for you, don’t settle just because the rent is cheap or the location is good. Look elsewhere and save yourself the trouble.

Do read the lease agreement

Leasing contracts are boring to read, but unlike the contract that you had to agree to the last time you upgraded your iPhone, it’s full of implications and have a major effect on your day-to-day life. It’s critical that you read a lease before signing it to get a full idea of what your landlord is expecting from you and what you can expect from them. Things like how much notice they need to give you before entering your unit, how you need to maintain the property, and under what conditions the lease can be terminated are all in there, and once you sign off, you’re legally agreeing to them. It’s much better to know what you’re agreeing to from the get-go than to get hit with surprises later, especially because you’ll have no recourse if something isn’t to your liking but was clearly written out in the lease.

Don’t forget to ask questions

The smartest renters are the ones who don’t leave anything up to chance. Choosing a place to live is a big decision, and it’s okay to ask a lot of questions so that you can figure out what it might be like to reside somewhere before you rent it. If you can, ask other renters in the building what they think of living there and what it’s like to rent from that particular landlord or management company. While online reviews can be helpful, rental property reviews in particular tend to be from people who have come to complain. It’s hard to get a full picture of what life is like there unless you ask a more diverse group. If there’s no one to ask, you can try getting some broader questions answered from the person you’ll be renting from, such as under what conditions the previous tenant left and how recently any updates have been made to the unit.

Finding a rental takes time, but it’s always worth putting in a little extra effort during the search phase to make sure you end up somewhere that’s the best fit for your budget, lifestyle, and needs. If you follow the steps above, you should have no problem finding the perfect place to call home.