Moving out for the first time means that you’ll be living independently, without your parents telling you what to do, which can be a big shift in your life, particularly regarding learning responsibility and self-reliance.

However, it’s essential to be careful because along with the excitement comes the possibility of making mistakes that could turn your freeing experience into a nightmare. You can ensure a smooth transition to your new place by evaluating potential risks and avoiding mistakes.

Let’s look at some of the most common mistakes first-time renters make.

Budgeting issues

One of the most critical issues for any first-time tenant is proper budgeting.

Many youngsters don’t know how much cheddar they will need to cover all the expenses associated with renting a new place. Therefore, they often make the mistake of saving enough only to cover the first month’s rent, which can be a big problem.

There are many additional expenses to consider, such as the rental deposit, bond cleaning, application fee, and other small expenses which could pop up unexpectedly.

While not every landlord requires the cumulative sum at once, it’s better to be safe than sorry. Always think ahead and save more than you think you’ll need.

Apartment viewing

Many first-time renters are so eager to move somewhere that they overlook the importance of viewing the apartment in person.

As a result, they may end up agreeing to rent a place that looks nothing like the pictures they’ve been shown online. This is a huge mistake that can lead to disappointment and regret.

To avoid this – always view potential apartments in person, which lets you identify problems and ensure you feel at home before moving in.

Another swell idea is to insist on a check-in report. In Melbourne, you can do that to avoid being blamed for any damage that was already present.

Rushed decisions

People in today’s fast-paced world frequently hurry to make decisions without considering the repercussions. This pertains to apartment rentals as well.

Many first-timers make rash decisions without thoroughly researching all available options beforehand. Remember to take your time to evaluate each location – compare price, size, and accommodations. This way, you ensure your chosen location is a good fit.

Not Asking Enough Questions

When looking for a rental apartment, ask the landlord about your concerns. Since this is potentially where you’ll be residing, you have a right to know everything about it.

Unfortunately, many young tenants do not inquire sufficiently. Always bring up issues – landlords may fail to mention them unless specifically requested.

Lease Agreement

The lease agreement is a crucial document that binds you to the place and the landlord. You must read and understand every clause written in it. 

Often, these leases include rules and penalties for late rent and damage to the property. Knowing these things is critical, as the excuse “I didn’t know” does not work in court.

Additionally, make sure that the lease contains an accurate inventory report. The report should describe every piece of furniture, appliance, and any existing damage or defect.

Utility issues

When moving, you must think about many things at once: packing, documents etc. But sometimes people forget the most important thing: setting up the utilities. After all, moving into a new place and discovering no water or electricity wouldn’t be pleasant.

That’s why you should consider it while still signing the lease. Just ask the landlord if they are already set up, and if not – call the proper companies and ask them to cover it. Remember that most companies need a week or two’s notice.

Basic Necessities

When you lived with your parents, you had every kitchen and bathroom supply and nothing to worry about.

You used necessities like cooking utensils, plates, bowls, cutlery, and crockery daily, probably without even realising it. Don’t forget that you will also need those things in your new home, for if you don’t have them, you’ll definitely miss them.

So, carefully consider what you are going to need. Go through your new apartment room by room and write down what you must buy. Once done, you can go and get them or check if your mother has some spare ones lying around.

Making Changes

We know that it sounds great to be able to paint your room the colour you’ve always wanted, but your parents didn’t let you. 

However, before going down that road, you should read your lease agreement first. It’s highly likely that it clearly states that before you make any big changes around the property, you must consult your landlord and see if they are okay with it.

And even if they are, they may ask you to repaint it again at the end of the lease and turn it back to the original colour. So, think twice before undertaking any large DIY projects. Remember that everything is described thoroughly in your full inventory report, and you will be held responsible for every change or damage beyond simple wear and tear.

Living with a Friend

Just because someone is a great friend doesn’t mean they will make for a decent roommate or know how to keep good hygiene.

Living with your bestie can be a terrible idea – it’s not the same as seeing them at school or a party.

Friendships often fall apart just because people decide to share a flat. They often aren’t aware of each other’s habits, and it just so happens that they’re not a good enough match to cohabit successfully.

Neglecting the Inventory Report

Another common mistake young renters make is neglecting the inventory report.

When renting a place, conduct a thorough inventory check to see the potential and current problems with the apartment. This could be of great help when the landlord decides to do an independent check-out report to see if everything is in place and good condition.

Without a comprehensive report, the landlord may blame you for everything broken or stained, and you may not receive your security deposit back when it’s time to vacate the property.

Document the apartment’s condition at the beginning of your tenancy, including any pre-existing damage or wear and tear. This will help you prove that any new damage was not caused by you and may help you recover your deposit.

Don’t be afraid to take photos and videos of the apartment’s condition before moving in, and ensure the inventory report is as detailed as possible. When moving out, consider an end of lease cleaning service for the best shot at getting your deposit back.

Takeaways

To sum up – renting a place for the first time can be an exciting but scary experience. First-timers make many common mistakes but can be easily avoided with proper planning and preparation. Make sure you:

• Have a hefty amount of savings in place;
• Take your time to compare options;
• See the apartment and ask questions;
• Read and understand the lease before signing it.

And don’t forget to document the apartment’s condition with a thorough inventory report.

Photos By: Stock Images

Renting property in the UK, and the US is becoming increasingly common. One report in The Guardian shows that there is a huge shortage of rental properties in the UK right now.

The demand for rental properties is rising perhaps due to the difficulty of purchasing a home or obtaining a deposit large enough to qualify for a mortgage. For whatever reason, renting is a common practice in many nations across the globe. And one thing that generally comes with rental properties is a contract or a tenancy agreement.

One other aspect of renting and signing a tenancy agreement is that there will normally be a security deposit attached. When the agreement comes to a close, it is expected that this deposit will be returned. However, this doesn’t always happen, and sometimes it is the tenant’s fault.

What is the Most Common Grounds for a Landlord to Keep Holding a Security Deposit?

The absolute number one reason for a security deposit to be held back, or at least partially, is due to the state of the property. A landlord would ideally receive their apartment or house back in the same condition that it was initially rented out as. Of course, normal wear and tear is to be expected, but cleanliness should be maintained. If a landlord cannot rent out their home straight away then they will miss out on rental payments. Therefore, it is only natural that they would deduct some of the deposit to pay for cleaning to return the home to a leasable condition. 

What Areas Should you Concentrate on When your Tenancy is Coming to a Close?

Cleanliness is not the only concern that tenants and landlords should have when their agreement ends, but it is a major one. When a tenancy agreement nears its end, making a move out cleaning checklist will help to ensure nothing is missed. There are some areas of the home that should receive more care than others, and you may want to consider using professionals to help in this area.

Is it important to use Professional Cleaners when a Tenancy Ends?

It is not necessary to use professional cleaning companies for an end-of-tenancy clean. Nevertheless, there are some extremely good arguments for doing so. One of the qualities to look for in a professional cleaning service is having experience in end-of-tenancy cleaning. If you decide to use a professional cleaning company then look for one that is ideally experienced in this specific type of cleaning.

A firm that advertises as end-of-tenancy-cleaners is likely to understand what needs to be done to return a property to a landlord and receive their approval. Nonetheless, you may decide that you wish to forego using a professional cleaning company and perform this by yourself. Here are some of the areas of the home you shouldn’t miss when the end of tenancy comes around. And, not all of the important aspects are cleaning-related.

Cleaning is the Priority

Before you read about some other considerations for your moving out period, here is a list of important areas for the cleaning part of your tasks. As was mentioned above, cleaning is likely to be the biggest problem you have if any dispute arises as the contract ends. The landlord will almost certainly perform an inspection, and you will want to feel confident that you will pass it.

Carpets and Rugs

This is one of the areas of the home that will suffer from wear and tear. Carpets and rugs get walked on, and in rental homes, they may not be that new. However, cleaning carpets and rugs can make a significant difference to the cleanliness of the home that you are handing back. A deep clean of a carpet can bring the colours back to life, and brighten up the whole room. Also, if you have made any stains on the carpets, you should really remove these as they may not come under natural wear and tear.

Kitchen – Oven and Hob

This job may be enough to make you consider bringing in a professional cleaner. Degreasing ovens can be an unpleasant task at any time, but it cannot be left. Handing the keys back to a home with a filthy oven is not going to guarantee the return of your deposit.

Bathroom – Mildew

Baking soda and white vinegar can help to remove mildew, and a little elbow grease too. Bathrooms are easy to overlook as you may believe that cleaning the shower, bath, and sink is enough. Look at the faucet or taps. Check the plug areas for hair. Check the showerheads, and also look at the tiles. 

Over time, mildew and other grime can build up. The grout between the tiles can discolour. These are things that are easy to miss, but your landlord might not.

Other Areas Apart from Cleaning that Need to be Taken Care of at the End of a Tenancy

Inventory and Damage

While cleaning is critical, it isn’t the only concern you should have. You may have an inventory, and this will list every item that is in the home. If you have broken anything then you will likely have to replace it or suffer a deduction from your deposit. 

Inform the Landlord of your Decision to Leave at the End of the Contract

One of the simplest ways to bypass any disputes is to communicate with each other. Your landlord doesn’t actually have to give you a reason for not extending a tenancy agreement, but giving notice on either side is the polite way to handle things. There are plenty of tips for landlords for a smooth rental process, and likewise for tenants. Let your landlord know that you are planning to leave at the end of the contract so that they are prepared to re-market the home again.

Ensure your Rental Payments are up to Date

This is a very typical problem and one that should be avoided. Some tenants believe that the best way to ensure that they receive their deposit back is to simply not pay the last month’s rent. This will only lead to a dispute, and you will also fail to receive a reference. The latter is something you may come to regret later on.

What Happens if you Have a Dispute at the End of the Tenancy?

If things do go awry, fortunately, there is protection in the UK. The deposit protection scheme has been put into place to ensure that tenants’ deposits are held securely. The scheme can also help to give advice and manage any disputes that come about. All landlords must place the security deposit into one of these schemes by law. If yours hasn’t then you can report them, and even take them to court.

Summary

Leaving a home ready to be rented out is not only the polite thing to do but it will more than likely help you to get your deposit back. Cleanliness is the number one aspect you should remember when your contract comes to an end. 

An end-of-tenancy-cleaner will understand what areas are of most importance, but there are other ways to avoid disputes as well. Make sure that bills are up to date, and that you communicate with your landlord.

Most disputes are about cleaning, however, and if you cover this area you should hopefully see your whole deposit returned.

Photos By: Unsplash

We love renting. While many people see renting as a stop-gap option or as a reaction to the increasingly unaffordable housing prices in Australia, it’s actually a better option for a lot of Australians who like the flexibility that renting offers them. That being said, renting, like most things in the ‘grown up’ world comes with its share of administrative hurdles. We’re here to talk you through every step with our guide to renting in Australia. 

Money, Money, Money

Whether you’re renting or buying, the cost of living in Australia is downright astronomical. Saving up to move out of home as a renter is nearly as daunting a task as saving up for a house deposit but, if you’re going to be signing a lease you’ll want to have a decent balance of savings to draw upon. 

Basic Budgeting

Saving is tedious and it can be easy to fall off the wagon which is why we always recommend creating a rock solid budget. The first step is to log your monthly expenses and break them down into various categories like subscriptions, entertainment, transport and whatever other categories make sense for your spending habits. Once you’ve got an idea of how much you’re spending and what sort of things you’re spending it on, you’ll be able to figure out how to cut back. How you cut back is up to you, whether it’s by eating at home instead of in a restaurant or catching public transport rather than using rideshare apps or even selling some big ticket items you no longer use or need. Crucially, however, the budget won’t work unless you stick to it – so stick to it!

Location, Location, Location

Typically for renters, the most important factor to consider when choosing a property is location. Most renters will only stay in a property for a year or two and tend to be slightly younger so lifestyle is an important consideration. Ask yourself what sort of life you picture for yourself in this property. Will you be living with friends or with your partner? Do you want to be close to the coast or in the hustle and bustle of a major city? Is it important that you’ll be able to walk to work or do you just need to be near good transportation lines? Do you want to be near the coolest new bars and restaurants or would you prefer somewhere secluded? The answers to these questions will help you decide which suburb you’d want to live in. If you want to know more about specific Australian suburbs and the lifestyles they offer, head here to check out suburb guides. 

Insurance

Even if it seems very confusing, far too grown up and too densely packed with impenetrable language and dense terms and conditions, insurance is undoubtedly important even for renters. Even if you’re only renting, it’s important to make sure you’ve got coverage for your belongings and furniture. Making sure that the things you own are covered in the event of theft, fire, flood or vandalism is crucial for all renters. Remember every situation is different and it’s important to do your research and consult a professional before choosing your insurance policy.

Moving On Out

The actual process of packing up your belongings and moving house can be incredibly stressful and trying to manage the complicated process can take all the joy out of what should be an exciting time in your life. Below are our tips for making the moving process as painless as possible. 

Make Marie Kondo Proud And Purge As You Pack

If Marie Kondo is to be listened to, tidying up can be incredibly joyful, liberating and beneficial (this has never been my experience but, hey, she’s the expert!). The weeks and months before a big move provide the perfect time for some major decluttering. As you put your life into boxes, make sure you don’t take unnecessary things along with you. Keep only the things that bring you joy and donate or throw out the rest. To make the process even easier, check out this list of charities accepting donations of home goods.

Co-Opt Some Friends Into Helping You Move

Even after you’ve decluttered, chances are you still have an overwhelming amount of stuff to lug from one house to another. Packing and moving is a daunting task which is why we 100% recommend getting your friends involved in the fun. Bribe them with wine and a free meal if you have to, just make sure you’ve got some extra hands on board when moving day rolls around! Importantly, people are what makes a new house feel like home and having your friends around is a surefire way to make your new house instantly feel like home. 

Photos By: Demesne

Geographic Flexibility

It’s unlikely that buying a home now and selling it in a few years will be profitable. If you would prefer to have the freedom to relocate given your job or family obligations in the near term, it might make more sense to rent rather than own a home. If you continue to rent, you will continue to have the option to pack up and move across the country at a moment’s notice.

Location is Key

Location is an important thing when one is considering buying a home. Homeowners are often forced to live in the suburbs or further from the areas they consider the most desirable, whereas renters are able to take advantage of the lower sunk costs to move immediately into the places they so choose. This is one of the most important factors when finding the perfect apartment.

Emotional Considerations

Even if one has the ability to achieve home ownership, one should consider the emotional toll of tying oneself down and restricting one’s future dreams and goals. You might be a financial executive today, but if you want to pursue your dream of being a musician or artist you might find that home ownership disallows you from achieving these future goals.

Stability vs. Flexibility

Despite what the media pundits purport, the American dream is not dead. The dream is whatever you make of it, whether that be pursuing your childhood dreams or settling down in the suburbs. A lot of these goals will require a considerable financial investment. If you someday want to start your own business, plan your dream wedding, or travel the world, then throw all your savings into a home may put you in a very compromising position. If you are a first time buyer make sure to have an appropriate future plan for what you want with your home.

Are you Wasting Your Money?

Many financial advisors consider the biggest myth surrounding renting to be that renting means that one is simply throwing money away each month. Even though a renter is not accruing home equity by virtue of paying monthly rent payments, those who decide to purchase a house are also not building much equity these days by owning a house. In fact, today the overall cost of owning a home tends to be higher than the overall cost of renting, even if one is to consider that the overall cost of a mortgage payment is similar to the overall cost of rent. There is a lot of advice out there for people who have to decide between renting and owning. Do some research before committing to a decision.

Financial Predictability

If you decide to rent, you know exactly how much you are going to be owing each month. If you decide to purchase a home, on top of mortgage bills plus home and auto insurance, you might have to suddenly owe $10,000 for a new roof or $5,000 for a new surface for your garage floor. Wear and tear is not something that renters have to consider. Even things related to renters insurance tend to be far more predictable than the costs associated with homeownership.

Leisure Time

If you like having your weekends and evenings free, the associated costs of home ownership might be less appealing to you. For homeowners, there are always projects around the home that requires that you put in extra hours to make sure that your living space is well maintained and comfortable. Especially if you work long hours or travel frequently, you might find that having to fix every tiny problem in your home might be excessively complicated or time-consuming. Those who rent do not have to worry as much about these considerations, and may find more freedom in their personal life.