Better Homes offers its Top-10 list to help tenants get the most out of renewing a contract or moving to a new home:
1.) Don't move: You'll save on the cost of removals, the hassle of finalising the lease, getting your security deposit refund, new DEWA, cooling and internet accounts.
2.) Before you begin the process, speak to a reputable agency that offers multiple listings and particularly to a specialist in your area of choice with price and quality market comparisons.
3.) Choose a property that is close to both work and school, and one with amenities and services close by; driving less means a reduced commute and less petrol expense.
4.) Keep the décor on a rented property cost-effective since the property isn't owned and a long-term investment is better saved for a purchased property.
5.) Wait two months before the renewal period in order to research the market and get the latest property rates in the chosen area.
6.) Assuming the property agency has a strong relationship with your landlord, let your agent speak to the landlord to affect the best deal possible, since some agencies brief landlords on current market rates.
7.) Check to see if your company already has a relationship with your landlord as this may be an advantage when negotiating or re-negotiating for a lower rent.
8.) Some lenders can give you a one-cheque option for better negotiations and a lower annual rent and the fee can be minimal.
9.) Educate yourself on the rental expectations of the community you are currently living in or want to move to; call around to different real estate agencies and ask their opinion on the average rental - also, use the Real Estate Regulatory Agency (Rera) rental index for guidelines.
10.) When renewing ensure you give the appropriate three-month notice period of your intention to renew. This will give plenty of time for you and your landlord to open up the lines of communication to renegotiate your rental amount.
(C) Gul News
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