Every person at least once in their lives will find themselves in a position of either being the tenant of a property or a renter of a home or office. Sooner or later, everyone is faced with this seemingly unpretentious task – to rent an apartment, house, cottage, office etc. Alas, the realities of today’s life clearly demonstrate that behind the apparent simplicity lies a lot of dangers, or at least a lot of hassle. Renting a house is a choice that involves responsibility, as you sign a contract with rights and duties to be respected. Let ‘s see what not to do once we have found the agreement and signed a contract with the homeowner.
Going to rent means paying, on a regular basis and established by the contract, a certain amount that will decrease the salary that you earn monthly.
Therefore, before proceeding with the search for the property, it is necessary to define the budget that will have to take into account the costs that are incurred so far, to which to add, if it is the first time that you go to live alone, these include:
- basic food and hygiene expenses
- energy bills for electricity and gas
- possible utilities such as landline, internet charges
- any moving expenses
- transport costs to/from workplace
In addition, like any regular contract, there is always a security deposit at the time of the start of the lease, which can amount to a maximum of 3 advance months, therefore an additional sum to be advanced and which must be available already when the contract is signed.
Furthermore, it is necessary to think that some small accidents could happen in the house, such as the breakage of a light bulb, a leaking tap and other possible problems that you will have to remedy by opening your wallet if it is ordinary maintenance.
Another fundamental item to keep in mind is the condominium expenses, which we will analyze further below, and which will increase the annual cost spent on the apartment. Knowing the amount immediately is essential for drawing up the budget.
The condominium expenses are an important item of the rental contract: when you rent an apartment, in addition to its rent, the owner will indicate the amount of the annual condominium expenses, which may include expenditure items such
- stair cleaning service
- waste tax
- heating costs if the system is centralized
- other minor repairs that may be necessary for the common parts of the condominium.
Spending on a rented house must not exceed 30% of the income
According to the calculations of experts in the sector, the cost of renting a house should not exceed 30% of one’s income to avoid incurring bad management.
Therefore, once you have determined the maximum amount of sustainable expenditure, given by the sum of rent and condominium expenses, do not move from that figure: inconveniences could occur over time that makes your stay in the house complicated in financial terms.
Knowing the annual amount immediately is important for knowing the total amount of what the rented apartment will cost in a year.
For more information on renting new homes, consider using Home Rental Companies like FirstKey Homes to help simplify your search.