5 Factors When Renting Property

When Renting Property Deciding on a home or unit to rent can be a difficult process, but once made, it is well worth the effort as well as the time and money commitment.

At Feel at Home in Cape Town Property, we take great pleasure in assisting South Africans from all over our wonderful country in finding their ideal apartment to rent. This article was written just for prospective tenants and provides valuable insight into the top five variables to consider while renting in a specific location.

Speaking with Lourens Ej, CEO of Feel at home in Cape Town Property , highlighted that one of the most typical errors in the rental business is an overemphasis on pricing. “As a tenant, it stands to reason that most people will want to rent the best possible home at the best possible price.” Unfortunately, many tenants focus too much on the cost of renting a property and neglect or downplay other extremely essential features, such as security, location, and a range of other vital considerations. In such a case, people may appear to be’saving’ when, in reality, they are foregoing other critical factors such as access to required services.
Lourens Ej

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Location

As a single person, you may prefer to reside nearer to career options. As a parent, you may desire to relocate closer to good educational opportunities. However, regardless of who you are or where you reside, location is a crucial issue to consider. The value of location was also emphasized by Barry Davies, Franchising Director of the Chas Everitt International Property Group.

“Sometimes a more expensive rental property will save you money on travel expenses, while other times the ‘affordable’ option will cost you more.” So, rather than making hasty selections, evaluate how the location would affect your monthly bills, well-being, and lifestyle,” recommended Barry.

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Security

Another critical factor that must be considered is security. However, security is a personal affair, and you must determine what is adequate for you. Of course, lower security means fewer costs; nevertheless, break-ins, robberies, and other crimes can not only cost you considerably more than intended but can also jeopardize your peace of mind and overall well-being. Don’t take security for granted, and always give it the attention it deserves while renting. Consider all of the issues that could arise with less-than-ideal security, and then make an informed decision based on the vulnerabilities/security measures.

Lifestyle

“One of the most important aspects of moving into a new rental home is that you can enjoy the lifestyle that is available,” said Paula Harding, Client Service Manager at Feel at Home in Cape Town Property. The best aspect is that you can live the desired and convenient lifestyle without having to purchase an apartment or home in the neighborhood, which is likely out of your current budget, qualifying criteria, or taste.

“This is also why rental opportunities are so popular in sought-after suburbs across the landscape of SA’s property market,” Julie Pillay, Manager of Feel at Home in Cape Town Property Long Term Letting Division in Umhlanga, KZN, noted. Consider the numerous coastal pearls that dot the country’s gorgeous beaches, from the Dolphin Coast in the east to the Garden Route in the west. Residents can enjoy the wonderful and thrilling beach lifestyle that is so evident there, but inland communities, residential estate homes, and so on offer their own set of benefits.”

As a result, choose a property in a region that provides the lifestyle and convenience that you require. This entails living among like-minded families and individuals who are looking for the same quality of life, as well as having access to all of the area’s facilities and amenities.

Building management

Once you’ve located the house, flat, or townhouse, for example, that provides the location, security, and lifestyle you seek, the next step is to learn more about how the property is handled. If there is a supervisor, the frequency with which he or she inspects the property and his or her availability for repairs or replacements, as needed, is critical. A qualified real estate agent can guide you through the procedure and ensure that the relevant lease terms are clarified and in accordance with current legislation.

If there is no supervisor and the property owner organizes repairs and replacements directly with outside service providers, the responsiveness to damages and repair needs must also be carefully considered. Basically, living in a poorly managed property can create unnecessary stress, discomfort, and even health problems. So, ask prior tenants or the rental agent in charge about the management of the home or property, residential estate, or secure complex, as well as how quickly and successfully previous issues were addressed.

Cost of Renting Property

Finally, money is a crucial consideration that you should keep in mind. It is listed last because it must be considered in conjunction with the other four considerations, as each will affect the final cost – and, as the cliché goes, you generally get what you pay for. If a home provides good value in all of the aforementioned categories, the price will be pretty high as well. This does not necessarily imply unaffordability; rather, it is comparably costlier than property alternatives that fall short of the aforementioned standards. It is a question of value vs ‘cheap,’ which can be assessed by asking: “For every rand spent on rental, what living advantages and savings do I get?”

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