Real Estate Matters | The rental process for tenants part 1 – Finding a property

Juliet Risdon

Juliet Risdon is a Director of JML Property and a property investor.
Having established the company in 1994, JML Property offers Investment Property & Homes. It specializes in managing properties for owners and investors, and providing attractive and comfortable homes for tenants.

Welcome to the first in a 5 Part series “The rental process for tenants”
In this series over the next 5 weeks we will cover:

– Finding a property
– Securing the apartment
– The process of moving in.
– The first week in your property
– Ongoing living and termination

Finding a great property to rent is a major headache for anyone, and it is especially difficult for newcomers.
There are so many different elements that determine what makes a property ‘great’.
Everyone looking for a rental property has a different set of priorities, so the clearer you are on what is important to you, the easier it will be to find a great property to rent.
The first priority for every tenant before they go house hunting is to make a list of what is important and what isn’t.
For example, most people are happy to rent a furnished apartment rather than invest money in furnishings themselves.
Again, if you don’t plan to buy a car and prefer to rely on public transportation, being close to an area where you can catch a bus or a taxi is a top priority.
You might need to find an apartment that takes pets if you have a cat or a dog. In Macau as well as many cities around the world, that one requirement instantly eliminates more than half of all apartments.
Deciding what is most important can be almost impossible for some of us, especially if there is more than one person involved and each has their own wants and needs.
As difficult as it is, prioritizing what you want in your rental apartment will make finding one you’re satisfied with much easier.
Another effective way of finding a great property to rent is to ask friends and colleagues about the places that they already live in. Be careful with this though, they will tend to exaggerate the good points in order to justify living there.
If you’re looking to rent an apartment in a new building, don’t be afraid ask around to see if anyone else knows the property, the schools and parents are a good source of information for this.
Most people are very happy to share their thoughts on this, and many other subjects.
Obviously you also have Internet and can conduct research on a certain building or apartment development.
Bear in mind that no matter how respected or well managed something is, there are always negative views and comments some people who just did not enjoy their experience. It may have as much to do with the person as the property.
We suggest that you make a master list of questions and priorities the night before you see the property so that you avoid signing a contract and then end up regretting it a week later.
A Tenancy Agreement is a legal contract, and it is not something to be entered into lightly.
We also suggest using www.JMLProperty.Com as a good place to start searching of course.
Make sure you have done your homework, and hopefully you’ll find a great property to rent in no time
Next week we look at how you secure the apartment you have found, by talking about what required in fees, deposits and documentation.

(Based on a similar article originally published March 2014)

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