You might think that renting is always cheaper than buying a home. But this isn’t completely true, and there are a lot of expenses renting that you may not see coming. Luckily, there are also ways to avoid them, so let’s look at some of the most expensive issues and see if we can find a way around them.
Credit Checks And References
When you decide to rent a new property the agency will want to check you out. They’d like to make sure you can pay your rent and that you will are a trusted tenant who will look after the property. Unfortunately, they’ll often charge you for these checks, and they might even get you to complete them yourself. There can also be hidden expenses. So, you might pay two hundred for your first fee, but this may not include a second person living there. That could be another hundred added onto the cost, and it all starts to add up.
That said, there is a way around this issue. Rather than bothering with paying for your rent each month, pay the six months up front. You can do this if you have that type of cash in your savings. If the initial tenancy period only lasts six months, you can avoid the check altogether. This can save you up to five hundred immediately.
Furnished Or Unfurnished
You might think it’s a great idea to buy a property that is already furnished. Wohoo, you say, no need to buy the goods, or bother hiring a removal van. Careful though because typically, furnished properties usually have massive deposits and don’t forget, any damage will be taken off that. It could even exceed this, and it often does because renters don’t take into account little damages that can cost a lot. For instance, let’s say that you are renting a property with a glass table. Are you always going to remember to put mats down, so you don’t mark or scratch it? You’ll probably end up covering the furniture and using it as little as possible. So, not only is it costing you extra, but it’s also limiting your enjoyment of the property.
Bills, Bills, Bills
If you’re renting long term, you may want to look at the lights around the property. It’s possible that they’re not energy savers and instead, they’re costing you a fortune. To avoid this issue, replace them yourself as soon as you move in. Then, put the ones that were in use back once you move out, so you don’t lose any money on your deposit.
If you are renting unfurnished, you’ll have a lot of furniture and appliances to buy. But again, you can cut costs by renting instead with direct rentals, you can get ridiculously low rates on all the appliances you need.
Getting That Deposit Back
Finally, there’s that darn deposit to get back. The best way to ensure you get all your money back when you move out is to hire a professional cleaner a week before and keep the receipt. That way, you can prove that there should be no issues that mean you lose any of the money you put into the property.