What to know before renting an apartment

Moving out and living on your own is regarded as the first major step toward adulthood. Whereas you didn’t have to worry about electricity or water bills, or having a plate of food left in the microwave for you, all of that is now your responsibility.

While purchasing a home necessitates significant savings as well as being in a potentially higher salary bracket, renting is considered the most affordable and flexible option for most first-time renters.

Property is profitable throughout South Africa, and if a good deal comes up online, it is best to have your things in order to beat the next person to the deal. According to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, there is a shortage of properties for rent, and the chances of a very good deal coming up again are sometimes few and far between.

The reality is that you are up against many other eager interested parties at the same time so, it basically comes down to who can afford the property.

Gumtree lists a few things to keep in mind before deciding to rent an apartment:

Do your research

Because the worst thing you can do is walk into a deal blindly, Google and the internet are your best friends in such an instance. It is preferable to have too much information than too little. Determine an area of interest, the monthly rental cost, proximity to essential amenities, and whether or not pets are permitted. It’s best to learn as much as you can about the area or apartment complex and whether or not you’re happy with everything because you’ll be the one living there.

Have the necessary documents

Property is hotly contested and can be snapped up quickly. To that end, it’s best to have all of your ducks in a row before even visiting the property. Bring a copy of your most recent pay stub, the last three months’ bank statements, and a copy of your ID with you. The best thing you can do is fill out the rental application form (provided by the agent) and bring those documents with you on the day of the viewing.

Have a deposit

The majority of landlords require tenants to pay the entire month’s rent in advance. The deposit is normally around two months’ rent upfront, and there can also sometimes be a nominal admin fee charged by the rental agents. In addition to this, you also need to have a clean record and have proof that you can afford the property by knowing what you qualify for.

Know your budget

Don’t put yourself in financial jeopardy by living beyond your means. While it’s nice to live somewhere with beautiful views, they can be expensive. Structure your options based on what you can afford because you must also account for potential hidden costs such as damage or security deposits that you may not have compensated for.

Now that you’ve got the knowledge, it’s time to shop! Head to gumtree.co.za or your Gumtree app (click for Apple & Android) and don’t forget to use your location settings to find local service information close to home.

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