Property Rescue Blog

For whatever reason you are renting a property, there still remain criteria for you to follow. Naturally the criteria change depending on the reason behind your decision to rent, whether it be for a home, for an office, or for an investment. None-the-less, before you sign that contract, there are decisions that need to be made.

First and foremost you need to work out a realistic budget. Without a clear budget, you cannot know where to begin, as knowing what you can afford prevents future problems arising. The budget should depend on what you earn as an individual or a collective. Always remember however, that there are additional costs in living, such as bills, that will need to be paid on a monthly basis. Dedicating a proportion of your earnings to these will give you a more realistic idea of what you can afford.

Location, location, location. We have all heard the saying, and to be honest it could not be truer. The perfect property is only perfect if it is in the right location. One’s dream property (physical building) could be severely hampered by the location, for example, local transport, amenities, safety, etc. Depending on your needs, the location of your property can vary whilst renting; schools, transport, shopping, religious buildings, amongst others, are all examples of factors deciding a location.

Parking is another major issue while renting. Commonly, rented accommodation is within blocks of flats or within streets of terraced houses. Similarly, rented accommodation can frequently be close to shopping centres or train stations for example, in which case (free) parking can be limited. Various areas, especially around the London commuter belt, can propose greater problems with restricted parking zones a regular practice.

Another point to remember when renting is your time frame, i.e. when do you want to move in, and what length of contract are you looking for. Rented property can vary in these instances, so as long as you set a realistic time frame (thus expanding your search) you can begin looking. A minimum 6-month contract is the norm in rental agreements, and you can choose between furnished and unfurnished properties.

Renting can be a great option for anyone. Whether it is short term or long term, renting can provide the independence and flexibility one is craving. Although there are generally factors to consider, and rules to follow, renting can be an exciting solution!

Just remember to set yourself realistic budgets for living, social life, food and transport costs, and enjoy.