Viewing rentals can be a lengthy experience, so it’s best to be prepared! Depending on the property, either the landlord themselves or an agent may be hosting the viewing – we have put together a few key questions to ask when viewing a rental for the first time:
What are the total costs for renting this place?
It’s important to gather and note down all the associated costs with renting the unit. Don’t be afraid to ask about these along with any estimates. Costs such as utilities can vary depending on the unit and the providers that the landlord has decided to choose.
These costs play a large part in whether or not a unit will ultimately be affordable or not.
What is the financial commitment of this rental?
When viewing a rental, having a good understanding of the costs involved in renting your home is something that will be of great benefit. Everything from the deposit, rental amounts, bills and/or fees.
Knowing this information will place you in a better position to rent your home and get your financial affairs in order during the rental process. Additionally, it’s beneficial to understand how state laws can impact your finances when renting, for example; in some states, non-refundable deposits are prohibited.
What does your screening process involve?
There are quite a lot of resources online about what the screening process is when renting, but all landlords are different and they may have their own ways of doing things – so it’s best to ask! Not only will it help you set and manage your own expectations, but it’s also a good way to benchmark and compare requirements in a busy market.
Some of the things you can find out by asking this question can include factors such as a credit report, is it required? If so, is it a hard or soft inquiry?
Will I be able to renew the lease if I want to or switch my payment arrangement?
All landlords are different and some plan well in advance. For some landlords, they may know that they would like to sell their property by a certain date/time which will impact our option to renew your lease.
Asking whether or not your rental will be long-term and if there is any flexibility within your term is a very important question to ask and can save a lot of hassle later down the line.
We have something for everyone here at PropHub, whether you’re a landlord, tenant or someone who’s interested in real estate – take a look at our blog for more content!