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Renting a Property

It could be that you have just cleared college or university and are looking for your first house - which in many cases would mean having to start out by renting a property before you can organize yourself to buy your own flat. It could also be that you already have your own house, but are moving to a new township on a working assignment - which would then mean having to rent a property for your accommodation, in spite of having your own house wherever you are coming from. Or it could just be that you are planning to venture into business, and therefore have to look for premises to accommodate your business, which in many cases would also mean renting a property. Regardless of the specific circumstances, many people who find themselves looking to rent a property often wonder as to how to get the process right. As it were, renting a property is often a long term commitment, an undertaking that one cannot afford get wrong.The process of renting a property normally starts with the identification of a suitable property, and this is where many people tend to go wrong. As it were, many people just go out looking for a property, without first being clear on exactly what they want. As in all things, when looking for a property to rent, failing to plan is almost inevitably planning to fail. Planning in this respect means soberly sitting down and identifying your exact needs you needs in terms of a rental property (e.g. location, size, amenities e.t.c.), if possible crystalising these needs into a mental vision, and then going out to find a rental property that best fulfils that vision. At this stage, one needs to hold onto their vision of an ideal rental property, and not let it get easily compromised by sweet talking rental agents.After identifying a suitable rental property for ones needs, the next step in the process of renting a property involves getting into the lease agreement, that is, the contract governing your rental transaction. Again, this is another place where many people make major mistakes, only to realize them much later when there is not much they can do about them. The key to success at this stage of the property rental process is going through the least contract with a toothcomb, identifying potentially injurious (harmful) clauses - and having them addressed (or opting out of the contract if the person renting the property won't change them). Things to pay particular attention to include the dates when the rent falls due, what is to happen should you find yourself unable to pay your rent on time (it happens even to the most prudent), who is responsible for the maintenance of the property and so on. The contract's exit clause is another thing you need to pay close attention to and ensure that it is not injurious to you, as however long (or short) you stay with your landlord; you will certainly have to part ways one day.The final stage in the property rental process generally involves your moving into the rental property. Many property owners will insist that you pay at least a month's deposit upfront before you are allowed to move into the property. For business properties, you might also be required to pay a non-refundable payment for business goodwill - a sum whose payment you need to carefully consider, as it is not always justified in all cases. When actually moving into the property, you might consider engaging the services of professional house moving service. If you won't be the one personally doing the move, you are also advised to do a careful inventory audit before and after the move, to avoid loss of items during transit - a common complaint.


 

It could be that you have just cleared college or university and are looking for your first house - which in many cases would mean having to start out by renting a property before you can organize yourself to buy your own flat. It could also be that you already have your own house, but are moving to a new township on a working assignment - which would then mean having to rent a property for your accommodation, in spite of having your own house wherever you are coming from. Or it could just be that you are planning to venture into business, and therefore have to look for premises to accommodate your business, which in many cases would also mean renting a property. Regardless of the specific circumstances, many people who find themselves looking to rent a property often wonder as to how to get the process right. As it were, renting a property is often a long term commitment, an undertaking that one cannot afford get wrong.

The process of renting a property normally starts with the identification of a suitable property, and this is where many people tend to go wrong. As it were, many people just go out looking for a property, without first being clear on exactly what they want. As in all things, when looking for a property to rent, failing to plan is almost inevitably planning to fail. Planning in this respect means soberly sitting down and identifying your exact needs you needs in terms of a rental property (e.g. location, size, amenities e.t.c.), if possible crystalising these needs into a mental vision, and then going out to find a rental property that best fulfils that vision. At this stage, one needs to hold onto their vision of an ideal rental property, and not let it get easily compromised by sweet talking rental agents.

After identifying a suitable rental property for ones needs, the next step in the process of renting a property involves getting into the lease agreement, that is, the contract governing your rental transaction. Again, this is another place where many people make major mistakes, only to realize them much later when there is not much they can do about them. The key to success at this stage of the property rental process is going through the least contract with a toothcomb, identifying potentially injurious (harmful) clauses - and having them addressed (or opting out of the contract if the person renting the property won't change them). Things to pay particular attention to include the dates when the rent falls due, what is to happen should you find yourself unable to pay your rent on time (it happens even to the most prudent), who is responsible for the maintenance of the property and so on. The contract's exit clause is another thing you need to pay close attention to and ensure that it is not injurious to you, as however long (or short) you stay with your landlord; you will certainly have to part ways one day.

The final stage in the property rental process generally involves your moving into the rental property. Many property owners will insist that you pay at least a month's deposit upfront before you are allowed to move into the property. For business properties, you might also be required to pay a non-refundable payment for business goodwill - a sum whose payment you need to carefully consider, as it is not always justified in all cases. When actually moving into the property, you might consider engaging the services of professional house moving service. If you won't be the one personally doing the move, you are also advised to do a careful inventory audit before and after the move, to avoid loss of items during transit - a common complaint.

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