Military personnel’s PCS and deployment schedules make renting an apartment or house a common rite of passage. The reality of moving into your first rental house is packed with a combination of feelings, including excitement and worry, even though renting is normal.
Even if you’re set on the independence a rental property would provide you, there are a few things to keep in mind during house hunting and before signing a lease. These are just some of the issues you’ll have to deal with location, budget, pets, and the precise phrasing used to describe your military clause.
Keep these tips in mind when you’re house hunting so you don’t make any costly blunders.
Neither your budget nor your costs should be overestimated or underestimated
While it’s usual to reduce your monthly rent from your monthly income, this is not an accurate way to estimate your housing costs. Your monthly rent is only a small part of the total housing cost. In order to assess if the housing costs are within one’s means, one must take into account all additional fees, which might vary greatly from location to location.
Listed below are a few rental-related expenses to be aware of:
- Credit and/or criminal background checks are commonly required.
- Utilities are paid monthly (may be included with rent)
- The down payment, together with the first and last months’ rent, is required.
- The cost of caring for a dog or cat
- Rental Damage Insurance
- Parking
- Fees for common amenities (clubhouse, gym, laundry, social areas)
- Maintenance of the garden
- Refurbishing and redecorating your home
Not all of these fees will be included in your rental, but there are a variety of costs associated with renting an apartment or a home. Even if you’ll save some money, you should know that there will be other expenses that aren’t included in the monthly payment.
Pay Attention to the Small Print
As one of the first real estate transactions service members face, a rental agreement has a lot of important information to grasp before signing. Your lifestyle will be more comfortable if you are familiar with the conditions of the agreement. If you neglect or misinterpret the provisions of your lease, you could find yourself in the middle of a nightmare legal battle that will deplete your energy, time, and money.
Laws differ from state to state, but most rental agreements use the same language. Keep in mind that terms and conditions might be changed or added by the homeowner or property management team. Consult with an attorney at your local military installation before signing a rental agreement to be sure everything is in order.
In the lease, it is important to address the following issues:
- Occupancy: When, who, and how many people can live there; who can sublet it; and so on
- How much rent will you be paying, what it will cover, and whether or not it will alter during the term of your agreement?
- Owner/property management access: how often and who has access to the property?
- What, where, when, and how the money is saved during the lease period, and who receives the interest
- Pets: domestic vs. exotic, the number of pets, breed restrictions, and compensation for damage.
- Paint colours are allowed, but who pays for improvements and what the home will look like when it’s time to move out?
- When it comes to parking, issues like who pays and who asks for a permit come into play.
- The timetable and notice to the tenant of the reverse military clause.
Don’t Ignore Local Crime Rates
It’s difficult to forget about a brand-new, posh apartment. While it’s impossible to resist the new-home scent and exciting features, your car’s comforts will rapidly fade if it is routinely broken into. Plug into the local community as you narrow down your options. The police, community networks, and local schools all deserve your attention, even if you don’t have any children of your own. These insider perspectives on the local community’s well-being surrounding your rental house are crucial.
To get a true sense of a neighbourhood, nothing beats getting behind the wheel at different times of the day and night and exploring the area.
Police Reports AreaVibes CrimeMapping Newspapers and community websites like Nextdoor and Patch that provide local information
Renting a house has numerous advantages, but prospective tenants must be well-informed and deliberate in their selection process. Overpaying or signing a lease with unfavourable terms are practically definite outcomes of a hands-off approach. To avoid making costly mistakes, educate yourself early on.
