When the time is approaching for your current rental situation to come to an end, it provides you with an opportunity to seek out a new living space, location, and the possibility of a new budget to fit your needs. As you start your search for a new house to rent, there are some characteristics you should focus on looking for in order to make the search easier and help you improve your results and your efforts. To help you locate the best home to rent for your personal and financial situation, here are some recommendations you can follow.
Outline a Budget
One of the most important guidelines in your rental home search is the budget in which you need to find a home for rent. You only have so much money each month that you can put toward rent, so this part of the search is something that is non-negotiable. Find out what your absolute maximum rental amount is that you can afford with your current monthly income and make it a rule to not exceed it.
If you are not sure what your absolute maximum amount is you need to write out an expense sheet of all your monthly financial obligations. In addition to all your debts, be sure to include expense items, such as vehicle insurance and maintenance, eating out, entertainment, personal care, and clothing. Subtract these from your take-home pay to help you determine how much you can afford.
As you search for a home to rent with your budget in mind, realize that many landlords and property managers may not negotiate on their rental rate. Unless you shop for a new rental home during a time that is less popular for tenants to move and sign a lease, you will find that the landlord is not going to adjust their rental rate just to get you to sign a lease. So, look for a rental house that fits easily within your budget.
Consider Additional Amenities
As part of the rental house search you will want to look at some of the home's additional features and amenities that another rental might not provide. Some rental homes have a fenced in yard and others may not have a yard for you to use. And another feature might be that the rental house shares a common wall with another renter, such as in a duplex or townhome rental. The home might be a single family home.
As another example, the home you rent might have your own private parking space or laundry hook-ups and washer and dryer in the home. Or the kitchen may have a dishwasher and a sink disposal. These details in a rental home can provide you additional value based on your needs and you should consider each as it pertains to your interests when you make a final decision.