In the crippling economies around the world, owning a house is becoming more of a luxury than a necessity. Due to this imbalance in the economic situations around the world, the majority of people have resorted to finding rental properties to live with their families.
This preference for renting a home rather than buying one has resulted in a spike in the requirement of rental property. As a result, this has escalated the renting prices for people who own rental properties.
Other than the issues of high rent, several other issues are encountered for tenants. For this reason, we have developed a detailed guide to ensure you consider a list of essential things when signing up for your next rental property.
Common Challenges Faced by Tenants
Since landlords are in complete control in this situation, tenants have to face a variety of difficulties throughout the process. However, if you are lucky enough to get a good landlord, you are likely to spend a good time in your house. Regardless of the exceptional cases, here are the most common types of challenges that are faced by tenants.
- Kitchen Maintenance Might Not Suit Your Needs
- Unfair Bachelor Restrictions
It is an undeniable reality that the majority of people are never satisfied with the kitchens they get in rental properties. This is why kitchen maintenance holds great importance for landlords. For some people, the storage space might be small and some might get irritated with minor breakage of the wall’s tiles. Regardless of the scale of damage, kitchens are difficult to satisfy their new hosts the majority of the time.
Many landlords have rules that restrict bachelors from becoming tenants in their homes. This serves as a reason for an unnecessarily irritable situation for several tenants.
Important Things to Consider When Hunting for a Home
Although finding a rental property is already a difficult task, here are certain factors that demand your attention before you choose your next home.
- Average Cost of Utilities
- Inquire About the Lease Terms
- Is There Any Underlying Pet Policy?
- Is The Addition of a Roommate Allowed?
- What is the Landlord’s Stance on Subletting?
- What is the Penalty for Delays in Rent or Breakage of Lease?
Inquire about the average cost of utilities from the landlord to ensure that the probable monthly expenses remain inside your budget.
Lease terms can become a defining factor in your decision-making of choosing a property as your next home. For this reason, it is recommended that you satisfy your needs of being aware of the lease terms and identify if any underlying clauses might be conflicting for you.
Many people prefer to have pets in their homes. If you’re one of those people, it is recommended that you should inquire about the pet policy of your landlord to make sure this isn’t a point of conflict in your agreement.
According to a variety of Singaporean landlords, bachelors are devoid of their rights to live in a rental property. Living with a roommate sounds like a good idea in this particular situation. As seen on this website, you can get appropriate information available to choose your preferred rental property online and ask about its possibility. Inquiring about this will help you avoid any conflicts with your landlord, and you can start with living with a roommate right away.
Subletting is often a major issue for some landlords. Consider a situation where you need to go for a few months but don’t want to lose the apartment, you can try subletting it, but is it allowed? Ask this question to free yourself from all kinds of worries.
Many landlords tend to have underlying penalties for rent delays and in the case of the breakage of a lease. This is why you should inquire about this upfront to avoid this being a reason for conflict.
Benefits for Tenants
Finding an understanding landlord can be a difficult task, but once you do find them, life can be a smooth sail from thereon. The understanding nature of a landlord allows them to comprehend the monetary situations of their tenants, and they avoid inflating the rents at regular intervals of time. This serves as beneficial for tenants if they are struggling to make ends meet or have any reservations regarding certain repair works in the house.
Renting a property is considered to be one of the most profitable investments for property owners. Since the return is recurring, many investors tend to rent their properties instead of getting a one-time return by selling them. On the other hand, tenants have grown tech-savvy and are aware of ways to analyze several rental properties. This has helped them get good houses at relatively lower rents.