5 things to know before renting a home
For those entering the property market, most are looking to rent their first home due to affordability and trying on an exciting new area for size. With the guidance of real estate professionals renting your first home can be a simple process. Depending on your and your family's needs, you will need to decide which property best suits you, how rental agreements work and what you need to prioritise as a tenant.
1. Financial groundwork
Before you can start looking for your dream home to rent, you need to find out whether you qualify for the financial requirements set out by the landlords. As a potential tenant, you need to have a good credit score to be considered for leasing. Your search needs to be aligned within your price bracket of the properties you can afford. The area you choose to live in will also affect the availability of rentals and the price.
2. Create a checklist
Every tenant wants peace of mind that they're moving into a secure home that's well-maintained. You can organise to have a rental inspection set up with your landlord before you move in. Make sure you walk through every room in the house and look out for these key things:
- The condition of the walls and ceilings (Are there any cracks or chipped paint?)
- Flooring (Do the tiles or carpets need replacing?)
- Windows and doors (Do they open and close properly?)
- Lighting fixtures and exposed outlets/wiring hazards
- Sign of water damage, leaks and mould
- Signs of infestations
- Broken smoke detectors and house alarms
- Access to locks and keys (Is the house easily accessible to outsiders?)
3. Have your documents on hand
Here's what you will need to qualify as a rental tenant in South Africa:
- A copy of your latest payslip
- Three months bank statements
- A copy of your ID document
Once you've viewed the property and have decided you like what you see, you will need to fill in the rental application forms provided by the agent or landlord. The forms then need to be completed with your accurate personal details and sent through to your agent or landlord on the same day. This secures your rental and ensures no other viewer scoops you on the deal. Your agent/landlord will perform a confirmation of your personal and financial details upon which your lease will be agreement will be drawn up and ready for you to sign.
4. Pay your deposit
The deposit required will either be stipulated by the landlord or the real estate agency you use. It's common for four or six weeks to be asked for upfront. Ensure you aren't being taken advantage of with a lengthier deposit requirement. Secure your tenancy through signed proof of payments and your lease agreement.
5. Move in with confidence
Once you and your landlord have discussed the terms and conditions of a lease agreement, you may request to sign an inventory of the appliances and household furnishings. This will be attached to your agreement and reviewed as necessary, inclusive of any improvements or additions you may want to add to the property.
REALGLEN Properties specialises in finding the right neighbourhood that fits in with your lifestyle and the perfect home for you to rent. We have a team of dedicated professionals to help you with your journey towards handling the first steps of tenancy and beyond.