Nine Red Flags to Watch Out for When Renting a Home
by on March 20, 2019 | Categories: Renting
Looking at renting a home? Before you close that deal, make sure that you know what you’re getting yourself into.
Regardless of the length of the lease, renting is a huge decision that you should not do in a hurry. You should carefully consider all the aspects of renting a home to make sure that you won’t regret your decision.
Before signing that lease contract, make sure that the following apartment lease red flags are not present:
The Property manager is unreliable
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When you are out apartment or condo hunting, the first thing you would probably do is to do some desktop research to find available options. You will then do an initial screening of these properties to find which ones fit your requirements. After doing so, you will most likely call your shortlisted properties to arrange a site tour and to confirm the details that you have found online.
If the property manager is not responsive even after having tried several times to reach out, then you should already cross out that option. How the property manager behaves right now will most likely the same treatment you will get should you be able to close a deal.
A decent property manager such as DMCI Homes Leasing Services will make sure to attend to your needs from your first inquiry and even after you have signed a lease.
The Property is not well-maintained
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In considering your options, make sure that you look into how the property is being maintained. This is especially true when you are keen on condo living. As condos are usually in multi-level buildings and cater to more families, it can be a challenge to maintain. But it is the responsibility of the property manager to ensure that the condo is well-maintained from both the inside and the outside.
If the property you’re looking at doesn’t look like it’s being maintained properly, then it might not be a good idea to continue with your transaction. This is something you would not experience when you go for a DMCI Homes condo.
There is no proper screening
As you set out searching for an apartment or condo for rent, you are more or less aware that there would be a set of requirements that would be requested by your potential landlord. This is, of course, a usual protocol to ensure that they really know who they are transacting with, and for the security of their business and the safety of the other lessees.
But if you are dealing with a property manager who is very lax in documentary requirements, then you should give it a second thought. You might be able to get in easily, but you might be entering into a sketchy transaction. It’s always best to transact with a business that practices basic screening of its clients because you yourself do not want to be living closely with someone who does not pass your own standard.
The leasing agreement is unclear
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One of the most important items in your condo or apartment hunting checklist is the lease agreement. It indicates the terms of your stay and should include all essential details of your rental agreement.
Your lease agreement should clearly contain the conditions of your lease including the length of the contract, the rent and payment schedule, the scheduled increase in rent (if applicable), the maintenance fees, and other pertinent information that defines what you are getting yourself into.
If the lease agreement has a lot of questionable terms, especially those that may potentially go against your legal rights, then you should not sign it, and you should just look for other properties.
There is no tour of the property or the tour is rushed
A site visit is an indispensable part of the process of choosing an apartment or condo for rent. But if there is no property tour, or if the property tour feels a bit too rushed, then it can get a bit questionable.
You must be given the opportunity to carefully examine the place if it suits your needs, and to make sure that there are no issues that would surprise you once you move in.
If the property owner is hesitant to provide you with a thorough property tour, then cross it off your list.
There are last-minute changes in the lease agreement
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Again, the lease agreement should clearly contain all the discussed terms of your lease. There should be no last-minute changes to it because chances are, these insertions would inconvenience you in one way or another.
Doing so is also unbecoming of an ethical business owner. Should there be changes to the agreement, this should be discussed in detail, and should be explained. In any case, be doubtful when there is a need to implement last-minute changes in your agreement.
The property is not tidy or there is an unpleasant smell
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Your home, although it may only be temporary, must provide you with the highest level of comfort. This should be a place where you can relax after a long day’s work. It should be able to provide you with an atmosphere that can help you cool down after a tiring day.
But if the property has an unpleasant smell that is constantly there, or that there are areas that are undeniably untidy, then these should be considered signs of a bad apartment or condo. This would definitely stress you out sooner or later so might as well consider going to a different option. If the property manager is decent enough, then he/she should be able to prevent, or at least address, such issues.
The rent is too low
Add this into your condo or apartment hunting guide: if the rent is too low, then it may be too good to be true.
You should be aware that in order for businesses to carry out premium services, then the cost would most likely be reflected in the rental values. This is especially true for condo renting because there would be a handful of additional charges such as maintenance fees and association dues. If the rent is too low, then there would most likely be a catch. That is why you should never be shy to ask the property manager questions should there be concerns or anything that needs fixing that is below your standards of safety.
The lessor is asking for a quick cash
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Finally, when the lessor is asking for cash very early on in the transaction, then you should be wary already. You should only pay when you have finalized the terms, and that you have signed a contract. Only then will you be sure that you are legally being given the right to use the property.
If the payment happens before the finalization of the agreement, then you are risking losing your money. Make sure to always play it safe especially when money is involved.
Finding the perfect home to lease can become such a challenge. A lot of the options you are looking at can raise a condo or apartment lease red flag or more. But there are options that would be able to address all your needs, and that is what your perfect home should be. Never settle for properties that depict the above shortcomings. Just be diligent, and you would be able to find the best home for you.