subject: Questions to Ask Yourself Before Leasing a Miami Rental Property [print this page] The right Miami rental property is an excellent alternative to homeownership. You dont have to worry about mortgages but focus your finances on keeping the rent up-to-date. The key in finding the right apartment, however, is to know exactly what you want and how to go about the search. A forward-looking approach is indeed necessary, and here are some questions you should ask yourself to achieve that attitude.
Can I afford it?
Of course, you should first realize if you are ready to move out of your parents house and own aMiami rental property on your own. There are plenty of role-players in determining your readiness for a lease. First, do you have a job? You must have a steady source of income in order to support the monthly rent. Next, think about the savings. Although this isnt necessarily required in renting, it will be helpful to have a financial cushion to save you from future money troubles.
How long will I live there?
The lease term is essential when finding a Miami rental property. If you dont have any plans of owning a house in the immediate future, consider a long-term lease. However, you must take into account possible emergencies that might require you to move out. Because of this, having a short-term lease is probably safer. Safest still, is negotiating a monthly lease, which will contain a renew option.
What am I looking for?
Like traditional home-buying, your needs will play a major part in choosing the right apartment. Before you set out on your apartment hunt, make sure youve set your priorities straight. This will help you narrow down your choices or focus on areas which you think will work best for your vision.
Also, there are other things you must lookout for when looking at a Miami rental property. For instance, are the facilities up to scratch? Common areas are often important for renters. If you find an apartment lacking a crucial feature, take a closer look into your property options and see if you can afford to find another one. Another is the units features themselves. You must remember to always keep your eyes open for possible warning signs. There are several defects that can be concealed by simple cosmetic updates. Whenever you are doing apartment walkthroughs, bring your pen and paper with you to list down the things you find unusual and ask the landlord about them.
