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    How a rental property checklist can help you find the ideal rental home

    How a rental property checklist can help you find the ideal rental home

    Are you looking for a home to rent or lease? Before you do, make a list of all the the pros and cons of each rental property you look at. A Rental Property Checklist is a valuable tool to help you find a rental that fits with your budget and lifestyle. This checklist covers all the things you should look for in your rental unit, what you need to do once you have found a place you think is right for you, and some tips to help get you through the move.

    Decide what type of rental premises you are looking for.

    Before you begin looking for a place to rent, you need to consider some important factors:

    • What kind of rental unit fits your needs – is it a house, an apartment, a duplex, condo / townhouse?
    • Will you be renting on your own or sharing a place with one or more roommates?
    • Do you have children? Do you have pets?
    • Do you have a preferred location?
    • How much can you afford to pay in rent?
    • Do you want a periodic tenancy (such as month to month, week to week, etc), or a fixed term lease (e.g. for 1 year)?

    Once you have answered all of these questions, you're ready to start looking at rental properties. See what’s available that fits into your budget. Check out each property carefully, using the checklist to help you keep track of important information about each place.

    The checklist includes some suggestions to consider, but only you can decide which items are most important to you. For instance, if you own a pet, you need to find out if pets are allowed and whether you will have to pay a separate pet damage deposit in addition to the regular damage deposit. You can add your own rental criteria to the checklist and remove any that don’t apply to you. For example, if you don't own a vehicle, then having a garage may not be that important to you.

    What you need to do when you find a place you want to rent.

    You've found a place and your rental application has been accepted. Now you need to make sure that you and your new landlord:

    • Complete a thorough property inspection and write down any damage or deficiency in the inspection report.
    • Sign the property inspection report together and take careful notes regarding any existing damage or deficiencies.
    • Read over the lease / tenancy agreement and write in any conditions that you both agree on before you sign. Be sure you each keep a copy.
    • Agree on how you will pay the rent, e.g. direct debit, post-dated checks, etc.
    • Handle the damage deposit. You pay it to the landlord and the landlord gives you a receipt as confirmation of the payment. You should check your local landlord-tenant laws to see if you're entitled to receive interest on the damage deposit.

    Things to do before you move in or within the first few days after your move.

    • Obtain tenant insurance to cover all your furniture and personal goods. Your landlord’s insurance does not cover your stuff in the event of loss or damage.
    • Make sure you know where the trash bins and recycling bins are located, when pickups are scheduled and where bins need to be placed for emptying, and which items cannot be placed in the trash/recycling.
    • Arrange for connection of the utilities, telephone, cable, Internet, etc.
    • Notify your doctor, dentist, workplace, bank, friends, family, etc. of your new address.
    • File a change of address with the post office to redirect your mail.
    • Always make sure you know your rights and obligations as a tenant. Check the Government website for a toll-free number to the local landlord / tenant advisory board, and read a copy of the law that governs tenancies in your area. These can often be downloaded free of charge.
    Image courtesy jscreationzs / FreeDigitalPhotos.net
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