Rental Common Mistake

Whether you were a young person trying to leave your folk’s house and start living on your own, a college’s student looking for a place to stay near your colleges or newly weds who are just looking for the right neighborhood to start their family. At some point in your life, you probably found yourself stuck between tough choices deciding which rental property is the most suitable for you, and chances are you have made one of the very common mistakes people make during the process of renting a property and regretted your choice. Well, not anymore. We are here for the rescue. We’ve managed to sum up ten of the most common mistakes made by tenants all the time. So, weather you have been fooled into renting bad conditioned properties under the influence of the sugar-coated propaganda of the landlord many times over,or you’re a first-time renter, this guide is to protect you from wasting your money and compromise your comfort. We got your back.

1. Ignoring reading the tenancy agreement before signing it.

Skipping syllables in the tenancy agreement or ignoring reading it altogether might not be a wise move to make. Even thought tenancy agreements do follow a set standard, you might want to take a thorough look on the terms before signing it. It  might sound boring, but it’s for your best interest to protect your investment. Needless to say, once you put your signature on that piece of paper, you are obliged by law to obey all the terms clauses included in the agreement so you will want to make sure that the landlord hasn’t slid any unfair terms.

 

2. Verbal agreement don’t count

Simply, you can’t just trust the word of the word of the landlord when it comes to your money and comfort. Verbal agreements don’t carry weight for their difficulty to be proven. So next time you draw a contract with the landlord, make sure to include all the terms you’ve orally agreed on before writing the agreement no matter how measly or unimportant it might sound. This way you protect your interest and guarantee your right. In case the two parties of the agreement came to any further agreements after they already drew the contract, the tenant should add an addendum to makes sure that both parties of the  agreement came to any further agreements after they already drew the contract, the tenant should add an addendum to make sure that both parties endorse it again. You might want to consider the fact the most of the tenancy agreements state that any prior understanding or verbal agreements that may have been made are invalid.

 

3. Mis-estimation of the rental budget

This mistake is common especially among the first-time tenants. When crunching the numbers to figure the cost of the rent, put into consideration the subsidiary cost such as the utilities, the groceries the minor repair…etc. This would help you have a better idea whether or not you can afford what you’re signing up for.

 

4. Not giving much time to thoroughly view the property 

In the middle of the enthusiastic atmosphere created by viewing potential homes, one might turn a blind eye to the detail that might give them second thoughts regarding the renting. Try to maintain your calmness to help yourself form a more objective opinion about the place and have a better judgement. Make sure that all the appliances and household goods function properly. Take into account how far the place is located from your work and other places that you visit frequently.

 

5. Not documenting the state of the property when first moving in

In the light of protecting your right, documenting the condition of the place when you first move in is a necessary step to avoid unnecessary disputes by the end of the lease over the lease over the cause of any damages in the property which might have been already there before you moved in.What’s a better and more explicit way to document the state of the property than using your phone camera? Make sure to go through every corner in the place and take pictures of damaged stuff to keep yourself on the safe side.

 

6. Accepting the terms without a fight

Calm down and throw down the gauntlet. No one will fight here. It’s a figure of speech. What we meant here is that you are not obliged to sign up for the rental if some of the terms in the tenancy agreement just don’t go along with what you have in mind. You have the right to negotiate the terms that you see unfair. Some of terms on the lease agreement are flexible and can be changed to your will. So, don’t give up easily.

 

7. Don’t miss out on renters’ insurance

It’s important for you to know that the insurance that the landlord has for his property does not cover your property. So, you might want to get a renter’s insurance to save yourself thousands of dollars in case some mishaps happens to your property.

 

8. Focusing on square footages instead in the layout

When comparing between units to rent based on the area, number are not necessarily something to make into consideration. For example, a place with a large square footages, but a poor layout and wasted space on unnecessary features is evidently less efficient than a place with an adequate square footage and an efficient layout to allow you to use the most of the space. If you could have a look on the layout of the property, give it priority over numbers.

 

9. Ignoring or delaying damages reports to the landlord

Landlord count on the tenant to report any defects in the property as they arise to prevent further complications in the long term. Fixing the issue in earlier stages saves money. The longer you ignore the problem, the worse and costlier it gets.

 

10. Validation of the landlord’s ownership of the property

Make sure  you’re dealing in person with the owner of the property you’re interested in or a legal representative. In previous incidents, people who made this mistake ended up left with no resources and evicted since they had no legal contract with the owner of the property.

With that being said, you are now prepared with sufficient knowledge to guarantee yourself a secure and successful renting process. For more of such property writeout, do visit www.propertyreview.sg. Good luck!