Renting a place to stay is sometimes tricky, and real estate agents can make the endeavor easier or more complex, depending on the agent’s quality. Before hiring a real estate agent, you can do things to ensure you get the best possible rental property and contract. Here are five things to consider before hiring a real estate agent.
1- Houses that are without furniture look larger
When a house does not have furniture, it appears bigger than it is. Therefore, always take the house measurements to ensure you get what you are looking for regarding space for your furniture. Buyers often fail to understand how much furniture will fit in the house. Beware of being cheated by spending too much money on something that will not fulfill your requirements.
2- Ask for any technical problems with the house you wish to rent
Technical problems are often cost-effective and may damage your electrical appliances. Before deciding on a place, make sure that you ask for any technical errors in the house and get them fixed before moving in.
Technical issues may increase your utility bill, as they increase the voltage used by the electrical appliances you will put in your house.
3- Maintenance policy
Gated communities have a policy that residents must pay a maintenance fee to either the property owner or the household’s management bodies. To avoid conflicts later, make sure that you contact the affiliated personnel who manage your maintenance fee.
Decide what to do when major repairs are required in the household. You would not have to get involved in unnecessary issues that are time-consuming and cost-effective.
4- Leasing verbal tenancy
Different types of tenancies determine the obligations and rights of the tenant and property owner. They differ from one another depending on the agreement between the tenant and the landlord.
Rentals without a lease are known as monthly-based tenancies, or the tenancies are taken at will. They last until the rent is paid. Every month, these verbal tenancies change.
5- Terminating a tenancy
As many state laws treat verbal rental agreements as renewable short-term leases, each lease is terminated right at the end of the lease period. If the rent is paid monthly, both the tenant and the property owner have the right to terminate the lease with only a month’s notice. Taking this step benefits the landlords, saving them money and time.
Tenants can terminate their leases, for which they have to inform the landlord 30 or 31 days before they plan to leave, i.e., a notice period of one month.
If the property owner wants to terminate the lease in less time than the required notice, he is supposed to follow the eviction procedures that may vary from state to state.
After making sure you have considered all these points with your real estate agent, always consider the laws of the state you reside in. Alongside, make sure that you consider the bookkeeping records and include all the financial updates related to that.
Some examples of state laws in different states:
1-Alabama:
- Maximum Security Deposit: The amount equal to the rent of a month
- The deadline for returning the security deposit is 35 days
2- Kentucky
- Maximum Security deposit: No statute
- The deadline for returning the security deposit is 30 Days
3- Ohio
- Maximum security deposits: No specification
- The deadline for returning the security deposit is 30 days after moving out
4- Oklahoma
- Maximum Security Deposit: No specification
- Deadline for returning the security deposit: 30 days
The amount of money dealt with can be maintained in bookkeeping records for business and tax purposes.
Conclusion
In conclusion, navigating the rental market requires careful consideration, and the choice of a real estate agent can significantly impact the outcome. Before engaging an agent, potential renters should proactively ensure the best possible rental experience. The five considerations highlighted, from assessing space without furniture to understanding maintenance policies and lease terms, are crucial to securing a suitable property.
Moreover, terminating a tenancy demands attention, as state laws and procedures vary. Timely communication and adherence to notice periods are key to a successful termination process.
In addition to these considerations, meticulous bookkeeping is essential. Keeping track of financial transactions, such as security deposits, in compliance with state laws fosters transparency and serves as a valuable record for business and tax purposes. By addressing these aspects with your real estate agent and staying informed about state laws, you can confidently navigate the complexities of renting and safeguard your interests in the rental arrangement.
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