What Should I Know as a First-Time Tenant?

Young adults and those who have lived with others thus far may have never needed to take responsibility for accommodation before. Should you wish to move out on your own, and not want to, or be able to, get onto the real estate ladder, you may instead want to find a place to rent. There are certain responsibilities that you may need to take on as a tenant, especially if you want to renew your lease at a later date. Understanding what is required of a tenant can make this a little easier for you.

Finding a rental home

Being able to rent a home isn’t just about scouring and choosing. There can be so much more to it. The places that you may see online today may very well no longer be listed in a few days’ time. This could be because the market can be rather fast-paced, especially in areas where there is a high demand from renters (such as in Brooklyn). Due to this, it can be a good idea to have all your information and finances in order before you begin your initial search. This may mean knowing what type of home could suit you best, as well as whether you can afford it. Affordability isn’t just about the rent you pay. You might also want to factor in utilities, other fees, and even commute costs. This may mean that you need to lower your budget regarding how much rent you pay each month and find suitable places that match.

Don’t be pressured

As a first-time tenant, it can be difficult to say no to something that isn’t quite right for you. If at any time, you feel pressured, it can be important to leave and instead opt for a real estate broker, such as Compass, who can help you to make an informed decision without any coercion. While you might not want to hang around when making a decision, it can be important to take your time during the actual viewing of a home. This can help you to pay attention to security and safety aspects, such as looking for signs of water damage, pests, or even whether there is mold present. Where this is the case, you may want to turn the place down and advise the agent of your concerns.

Tips for pet owners

If you have pets, it can be significantly more difficult to find a rental place. Approximately 75% of rental properties in New York do not allow animals, which may be incredibly frustrating. Should you find a pet-friendly place, you may also need to pay additional fees for them to be able to live there. Due to this, you may need to accept that your hunt could take longer than someone without pets, and cost you more.

Becoming a tenant may be able to give you some freedom to live on your own, but there are still responsibilities you might need to adhere to. Educating yourself about the tenant process can help you to fare better, and even find a place that’s right for you.