Real Estate Renting Tips

When considering moving to Renting, its important that young persons understand the fundamentals prior to committing their savings and moving away from home.

How to Locate the Best Accommodation & Rentals
When you are getting ready to leave home, or even if you have been renting for some time, it is critical to find the location that suits you in all avenues:

1. It must be within your price range- if you are struggling to meet the repayments, its not only going to be stressful, you may also find yourself moving again in a short period of time
2. Security is in place. You don't want to live in an area known for violence or break-ins, even if it is cheap rent
3. It's a bonus if it it is close to transport, shops or near friends and family - a place where you'll feel at home.

Do lots of homework and see what's available by looking at ads in local newspapers or by visiting real estate agents in the areas that interest you and what they have available for rent.

Initial Expenditure
Moving into new accommodation will be costly from the very beginning. Up front you need to hand over a bond; which is usually two week's rent in advance. Then you will have to pay connection fees for electricity, gas and telephone.

Moving costs will involve the hire of a van if you do it yourself or a removalist. Unfurnished accommodation will need furniture, beds, mattresses, linen, a washing machine, refrigerator and a lawn mower.

Share Accommodation
Sharing accommodation with friends or strangers needs a lot of planning, its a very large commitment on both sides to make it work. Make sure you discuss costs and possible house rules before you make a decision to live together. There will be ongoing weekly expenses
so make sure that all ongoing costs are collected at regular intervals and placed into a common bank account. You will need to place equal amounts of money into a "kitty" (or money purse) so that food can be bought for the household.

You all will need to agree on who will do the shopping it and what needs to be bought. This will assist in preventing doubling up on groceries and other expenses.

Keep Records of Expenditure
Keep all paperwork you receive about the accommodation and Property Management - i.e. your receipts for rent, food and bills. They are proof of exactly what you've spent, how much you have paid, when you bought them, and how the expense was paid for. If there are future arguments about money,
this evidence will be crucial to have at the ready.

Noise Control
Always consider your neighbours when you play music or have visitors over for parties. etc. You are required by the law to keep the peace and keep noise from parties at a reasonable level. If you exceed those levels, the police may be called and you are liable to fines if you continue to exceed noise levels after being told to cease & desist by the police.

Damage to Premises
If any damage is made to your premises either by you or your visitors, whether accidental or not, make sure you repair it or tell your real estate agent about it.. You are liable for any damage to your new household so it is a good idea to take plenty of photos prior to moving in.

Moving out of home is a big challenge, but if you take care and plan well, it is a great ticket to your future freedom & fun!