Looking for rental properties can be a stressful experience, especially if it’s your first time. But not to worry, we’re here to walk you through the process step by step, offering helpful tips along the way.
Before you even start looking at potential rental properties, you need to determine how much you’re willing to spend monthly for it. It’s usually recommended that people stick to spending 30% or less of their income on rental payments. You’ll also need to factor in how much you’ll be spending on groceries, commuting, any debt payments, savings and other expenses, on top of paying rent. Determine a workable number that won’t leave you panicking about paying rent month after month.
Do you want a rental property that has a balcony or deck? How many bedrooms and bathrooms do you want? Are you looking for specified appliances like a gas stove or dishwasher? To make your rental search more focused and efficient, figure out what home features you can’t live without and what you’re able to compromise on. This is key when searching for properties, as you’ll only view ones that you’re actually interested in renting rather than viewing rentals that contain nothing you’re looking for.
Whether you make a list or use an app, geographically map out your usual day to day activities and determine where you spend most of your time. This should also include weekend hangouts, grocery stores and your work location. Once that’s done, look at rental properties located within the center or close to most of those locations. This way, you won’t fall in love with a property that’s too far from work or your gym.
What kind of property are you looking to rent? A detached house? High-rise apartment? Semi-detached townhouse with a yard? This is an important step that will also depend on your budget and how much space you need. Each rental will come with varying leasing terms and lengths, depending on the landlord. Renting within an apartment or condo complex it great because that usually comes with access to a variety of amenities, but the units are usually smaller the newer the building is. Thinking about a townhouse? You’ll have more privacy and a yard of sorts, but you’ll probably have to pay for utilities and maintenance in addition to the monthly rent. All rental types have their pros and cons, but it’s up to you to decide what works best for your needs.
Once you’ve found a rental property you could see yourself living in, it’s time to begin the application process. This will include a background check, going through the leasing terms, negotiating whatever leasing terms you aren’t happy with, possibly putting down a deposit and paying other necessary fees. As there’s no guarantee you’ll be approved for the rental unit, and it may take a few days for the landlord to get back to you, keep searching for other rental units that might interest you. If this application doesn’t go through, then at least you don’t have to start from scratch.
At Progressive Real Estate, we take pride in our apartments for rent in Winnipeg, Manitoba. Since 2009, we’ve provided potential tenants with the best Winnipeg apartment viewing experience. With affordable pricing and re-developed units, we’ll take clients through the entire rental process. Be sure to call us or visit our website for more information.