Thinking about applying for a rental property? Use our checklist below to know what to do before you start looking, when you’re applying and during your lease.
1. Conduct a thorough search for suitable properties: Look for properties that are in good condition and in desirable locations. Check for any potential issues, such as leaks or mold, and make sure the property is up to code.
2. Research the rental market: Understand the current rental market in the area you’re looking to rent in. Look at median rental prices and the number of available properties to get an idea of what you should be paying.
3. Make a budget: Determine how much you can afford to pay in rent each month and stick to it. Make sure you budget for any additional costs, such as utility bills and renter’s insurance.
4. Review the lease: Carefully read and understand the lease agreement before signing. Make sure you understand the terms and conditions, including the length of the lease, the security deposit, and any restrictions on pets or smoking.
5. Check the property’s condition: Before moving in, conduct a thorough inspection of the property and document any existing damage. Take pictures or video to document the condition of the property before you move in.
6. Set up utilities: Make sure you set up utilities, such as electricity, gas, and water, in your name before you move in.
7. Meet your neighbours: Introduce yourself to your neighbours and get to know them. This can be helpful in case of any issues or emergencies.
8. Keep all documentation: Keep copies of all documentation, such as the lease agreement, move-in inspection report, and utility bills, in a safe place for future reference.
9. Communicate with your property manager: Establish a good relationship with your landlord by communicating openly and promptly about any issues or concerns.