While taking an accommodation, getting done all the formalities is very important and must not be taken lightly. The documents that you are signing, be it renting or leasing a property clearly defines what can be and cannot be done. So you must be very careful.
Leasing is itself more complicated than renting because the whole payment is made up front. Thus there is the need to be all the more careful in this. Take a look at a few things that you must ask or inquire about before taking the big decision and signing the lease document.
Ask whether you can take the lease home for some time.
This is very important because of the legal nature the document carries. Upon signing it you are bounding yourself to some terms and conditions and hence must be very careful. You may also want to take some advice of experts say lawyers on this to know all the intricacies that are involved.
Do a survey and find out the rent nearby.
Your landlord will never tell you he is charging higher. This is your responsibility to do a quick search about the places nearby and find out what are the rates and match it according to the property you are renting in terms of size, location, facilities etc…
Inspection
Although house inspection doesn’t need to be said and generally is offered by the landlord but at times, there may be instances when your potential landlord might want to skip this step. In such cases do remember to ask them to organise one and inspect the house properly. All the material defects should be pointed out and identified. Remember to take note of it so that you are not blamed in future for any pre-existing defects.
- In case there are any defects present, ask the property owner to get them fixed. This has to be done by him and the expenses too will have to be borne by him. This will include all material and small defects that may cause problems while living in the house or property.
- Is the area safe?
Do not be fooled by cheap rentals and take the place. Do a proper inspection as to whether the place you are going to take is safe for living and has good security. In a case of families especially, do not the neighbourhood and is it suitable enough.
- Insist on official lease
Take an official lease only that contains the terms and conditions as defined by you. You may also want to document it by yourself and secure a copy of it with you for any further reference in future.
