Unlike owning a house, renting goes through a much simpler process. It only takes five to ten days to complete your requirements, verify references, pay for the deposit and first monthly rent, and study the inventory. There are lots of things that you should consider when renting a house or an apartment. But with a good letting agent, you can sail through the entire process without any hitch.
Here are some of the basic steps involved in renting or letting a property.
Paying for holding deposit
As soon as you apply for a tenancy, you will be requested to pay for a holding deposit which is not refundable in case you change your mind. This deposit also guarantees hold of property as you complete the necessary paper work.
First Payments
Before you move in, you will also be requested to pay for a deposit and your first month's payment. The deposit will be on hold till you move out. If damages were found in your apartment, the deposit may not be refunded. Be sure to check on your local laws to ensure the rules they implement. Some states allow tenants to use deposits as repair funds while other states prohibit usage of tenancy deposits unless the tenant is moving out.
Property Check
A complete property or unit check must be observed before signing any rental agreement. It is smart to ask for an inventory where the details of the contents, repairs and condition of the furniture in the apartment you are moving into are recorded. When you get hold of the inventory, make sure you check on the details carefully to avoid issues with your landlord.