While renting an apartment might be a temporary situation, but it is still a very serious commitment and needs attention and preparation. When hunting for an apartment to rent, you might have a long list of requirements and limitations, such as the price you can afford, the number of rooms you need, a specific location, or the available amenities. Here, I want to discuss with you three things to do before committing to a specific apartment.
ASSESS ALL THE OPTIONS
I’ve been working with some renters who had fixed their mind on a specific neighbourhood or a specific condition, and we faced a great challenge to find one apartment that had everything they needed. Those with a flexible mind explored other options that are available in the market. With some analysis and comparison, they were able to make an informed decision and pick the right option for their families.
So, before committing to an option, ask you, have you explored or investigated all the options available? What considerations that are non-negotiable and what are the factors that you can trade-off? Am I in a powerful position or I am pressed for time or money, and I have to accept what is available to me?
CONSIDER ALTERNATIVE SOLUTIONS
You may only think to rent an apartment in an apartment building, but also you consider renting a house, or maybe you can rent a basement. In some situation, you can have a roommate. So, when exploring the market, consider all the housing types and include different solutions in your list.
READ THE CONTRACT
Renting is a serious decision and a real commitment just like buying. Usually, the contract consists of several pages full of legal terms and obligations. Read the contract or agreement carefully. If you are not fluent in English and the language might be a barrier for you to fully understand the contract, approach one of the not-for-profit organizations that offer help or support and consult with them. You might consider getting the contract professionally translated into your language. Reading the contract will help you to understand your rights and obligations and avoid any dispute in the future.