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5 Tips for Finding Condos for Rent

5 Tips for Finding Condos for Rent

Renting a condo should be an easy task. There are plenty of places available for all price ranges. However, what usually starts as a fun and exciting process often turns into an exercise in frustration. Luckily, there are several tips you can use to find condos for lease that match your needs and your budget.

Don’t overstretch your budget

Your first property concern should always be your budget. You cannot live in a place that you cannot afford. Leasing a condo does not need to be a budget-busting ordeal. You can find condos for lease in a variety of price-ranges if you know where and how to look.

Make a solid budget before you start that search. Consider your monthly income along with any savings you have in place. Subtract all monthly expenses, including items oft forgot like entertainment and emergencies. This stipulation should leave you with a realistic monthly budget.

Think about hidden costs

Once you have established your budget, you haven’t finished working with financial numbers. Renting condos incurs costs that you might not consider at the outset. Most condos include condo association, landscaping or swimming pool fees. You may be required to pay rent for a parking space or storage.

Other costs might accompany moving into a new condo. The condos for rent that are in your budget might be further away from work. If so, you will need to consider the added cost of the commute. Likewise, a condo that is larger than your current home may have higher utility bills. You may have to pay additional deposits for pets. Think about all of these financial factors before you begin your looking.

Separate your needs from your wants

Knowing what is necessary and what is a luxury is often the hardest struggle when looking for a condo for rent. The best way to manage this is to make a list with one column for needs and one column for wants.

Needs should include the number of bedrooms you require. Singles and couples can get by with one bedroom, but if you are moving with a roommate or a child, you might need two or more. Do you have pets? Make sure every condo you look at is pet-friendly. If you work or study from home, you will need to be sure you have high-speed internet access. You could also consider ample storage to be a necessity. Wants might include extra items like a fireplace, on-site laundry, covered parking or a fitness center.

Condos for Rent

Find areas for flexibility

Not all condos for rent fit perfectly within your plan. However, a bit of flexibility on your part might lead you to the ideal home. Think about areas where you can stretch your ideas. Perhaps you can look for condos in a different location than you had previously planned. Maybe you wanted a first-floor condo, but the only condos offered are those on a second floor or higher. Don’t be afraid to stretch outside of your comfort zone.

Price is a place that is rarely flexible when it comes to condos. Still, if you can find a reliable roommate to share the cost, you may be able to afford a great place. Just make sure you can afford to absorb the rent if things with the roommate don’t work out.

Find a reliable agent

The best and easiest way to find a condo for rent is to hire a renter’s agent. A reputable agent will ask you what you are looking for in your condo and make the appropriate suggestions. They will then work with you to narrow down the choices to ensure you get everything you need from the condo you rent.

Another reason to use an agent is that they often know about new rentals that are on the market before they are made public. You have a better chance of finding the perfect condo when you work with a professional rather than trying to find the rental on your own.

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