What Every First Time Renter Should Know?

If you are a first time tenant, finding a rental home can be a daunting task. However, having the right knowledge about the rental procedure can help to save your time and money. You must research the rental market thoroughly so that you can find the best deal on a suitable rental home. The rent should be justifiable according to the amenities provided in the home.

Let’s have a look at the factors which should be considered if you are a first time renter:

Consider your budget:

Estimate your monthly expenses and chalk out a budget before beginning your search for the rental home. Make sure you calculate the overhead costs including security deposit, maintenance charges, parking fee, utility bills etc. before making the final decision. This will help to narrow down your options and choose the rental home accordingly.

 

Analyze your requirements:

It is essential to evaluate your requirements before choosing a rental property. Whether you need a furnished or unfurnished home, make sure you know your priorities. You can make a list of the amenities you require and search for the rental property accordingly. For example, you can rent a property with open parking space if you have your own car or choose a home with appropriate lawn space if you like entertaining guests.

Prepare your documents:

You should know which documents are required for completing the rental procedure. You may need to show your income and employment details to your landlord. He may also ask you about references to verify your employment status. Make sure you carry an identity proof and bank statements for the past few months to complete the verification process.

Pre-move in inspection:

Once you have shortlisted the rental home, schedule a visit to the property and conduct a complete pre move-in inspection. Look for any damage to the windows, doors, rooftop etc. You should check if there are any loose electrical wires, leaky faucets or any plumbing issues in the rental home. Also make sure all t

he electronic appliances are working properly. In case you find anything that needs to be repaired, report it to the landlord immediately.

Read the lease carefully:

The lease agreement states the rights as well as duties of the tenants and landlord. You should have a clear understanding of the lease to ensure a smooth renting experience. If you fail to follow these rules, it can lead to tenant-landlord disputes which may be difficult to handle. The lease should contain the duration of the tenancy, amount of rent, security deposit etc. Information about the late payment fees and pet policy should also be included. Thus, it is important to read all the clauses of the rental agreement carefully before signing it.

Check for renter’s insurance:

Make sure your landlord’s home insurance policy protect the rental home from theft, fire, vandalism etc. Though it includes the structural damage to the home, your valuable assets and possessions may not be covered. In order to protect yourself against damaged furniture, clothes, electronics etc., you need to buy renters insurance. Get in touch with an insurance agent to know about the different policies and coverage options available. The monthly premiums may depend upon the coverage you choose.

Cast a good impression:

Paying bills on time and maintaining a good credit score can help to cast a good impression on the landlord. A right attitude and good behavior can increase your chances of being selected as the tenant. If you have any query regarding rent, due date, maintenance fee etc., get it cleared from the landlord beforehand. Make sure you are honest about your lifestyle and nature of job. This can help to avoid any issues later and ensure a smooth tenancy.

Seek professional assistance:

If you are a first time renter, seeking professional assistance can be beneficial for you. The agents help you in comparing various rental properties so that you can choose the most suitable one according to your preferences. They will explain you the various terms and conditions mentioned in the rental agreement to avoid any sort of problems. The agents also help in handling the paperwork required to complete the renting process.

We, at Hunter Rentals & Property Management, provide various rental homes in Killeen, TX. You can browse through the available properties in the MLS listing provided by the company. For more information, you can call at (254) 634 - 3311 or visit 1503 W Stan Schlueter Lp Killeen, TX 76549.  

Property Management: Benefits For Landlords

Managing a rental home can be a cumbersome task for every landlord. Collecting monthly rent payments, maintaining the property, dealing with repairs etc. requires a lot of time and effort. Hiring a property management company can eliminate this stress to a certain extent by taking care of all your accountabilities. The professionals have extensive experience in managing a myriad of rental properties. Hence, landlords can be rest assured that their homes will be maintained well and all issues pertaining to tenants will also be well taken care of. However, several factors need to be considered before making this decision.

Let us first take a look at the benefits offered by a property management company.

Performs Tenant Screening

The most significant aspect of renting a home is choosing the right tenant, i.e. he should pay the rent on time, does not cause any damage to the property, is responsible enough to take care of his surroundings etc. Property managers have a pre-set criterion to screen the potential tenants to verify their income, credit history, past evictions, criminal record and other such details. This can save a lot of time as well as energy of the landlord which allows him to concentrate on other important chores.

Reduces Vacancies

A vacant property can be mentally straining for any landlord. At the same time, retaining tenants can also be an uphill task. Property managers are adept at reducing the vacancy cycles and making sure that the tenants do not face any hassles during the tenancy period. They stay in touch with the tenants and make sure that all their concerns regarding repairs/maintenance are met on time. Through serving as a reliable medium of communication, they strive to maintain a healthy relationship between the tenants and landlord to ensure an extensive tenancy.

Assistance In Lease Agreement

Preparing the lease agreement is an important aspect of the renting process. It must include all the terms and conditions that need to be followed by both tenant and the landlord. The agreement must contain information regarding the lease duration, the amount of monthly rent, late fees (if any), rules regarding property maintenance, pet policies etc. Property managers provide complete assistance in framing the agreement and making sure that all verbal communications between both parties are included in it. In case the tenant does not abide by the rules, the landlord has the legal right to take the required action against him.

Helps To Avoid Legal Issues

When renting a property, there are many legal issues to be taken care of. Abiding by the fair housing laws, following proper rent collection procedures, adhering to property inspection guidelines etc. are some of the aspects that the landlords need to take care of. Insufficient knowledge of the real estate laws in Killeen, TX can lead to legal troubles in the long run. They have an in-depth knowledge of the laws governing the landlord-tenant relationship. They handle all the legal aspects of dealing with the tenants and maintaining the property. They also make sure that both parties are in compliance with the property codes and safety laws.

Handles Maintenance And Repairs

A well-kept rental home attracts a larger pool of potential tenants. It even increases the value of the property and minimizes vacancy cycles, thus, generating a consistent source of income for the landlord. However, it is not easy for any landlord to constantly keep a track of the overall maintenance of the home. Property managers can play a crucial role in this regard by providing qualified contractors to carry out the maintenance tasks.

Responsible For Managing The Budget

Managing the budget and making sure that all the expenses are met within the pre-determined amount is also a big task. Right from the amount of rent to the maintenance cost of the property and the repair cost, everything needs to be looked into very accurately. Property managers assist landlords in handling the budget and all the proceedings associated with it. They also maintain complete financial records and help landlords claim the tax benefits for which he is eligible.

After looking at all the benefits of hiring a property management company, it can be deduced that it offers tremendous benefits to a landlord.

If you are looking for property management services in Killeen, TX, contact Hunter Rentals & Property Management. We can help to keep you property in the best shape and find quality tenants to maximize your rental income. For more information, you can call us at (254) 634 – 3311 or visit our office at 1503 W Stan Schlueter Lp, Killeen TX 76549.