Anyone looking to rent knows the struggles of getting an apartment. From evaluations to credit checks and endless fees, it can all feel a bit too much.
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Most people are looking to rent their first apartments due to them getting a new job and starting an exciting new journey. With the guidance of real estate professionals, renting your first home can be a simple process.
It all depends on your needs, which help decide which property best suits you, how the rental agreements work, and what you need to prioritise as a tenant.
Although renting a property doesn’t require as much commitment financially compared to buying a home, you as a tenant need to remember that a lease is a legally binding document, which means you need to understand it before signing anything.
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According to Property24, these are the five things to note when deciding to rent;
1. The costs
Understanding the monthly costs is one of the most important things when renting. The monthly rental amount must be clearly noted in a lease agreement.
The lease should also clearly detail and explain any deposits that need to be paid, including the rental deposit, electricity and water deposit, as well as the terms and conditions surrounding the refund of deposits.
2. Understand the termination clauses
There should also be a clear outline of the renewal process, should you and the landlord wish to extend the lease. Moreover, there should be clear terms and conditions for terminating the lease at the end of the lease period, as well as provisions for early termination.
3. Have your documents on hand
For South Africans to qualify as a rental tenant, an ID is required, along with three bank statements and the latest payslips.
Once you have viewed the property you want and have decided you like what you see, you will need to fill in the rental forms provided by the agent or landlord. The forms then need to be completed with your accurate personal details and with all your documents.
4. The rules
When a rental property is situated in a sectional title complex or apartment building, there will be certain rules and regulations that tenants are obliged to adhere to. The tenant needs to understand these rules and act accordingly. One of the most common ones is pets, which has become a big issue in many apartment blocks.
5. Always live within your means
Never splurge on an apartment you cannot afford. Live within your means to survive being in the apartment. While it may seem obvious, it is a common pitfall for first-time renters. Budget well and get comfortable with paying every month. Keep in mind that renting an apartment can have a few hidden costs.
Also see: How first-time buyers are transforming the property market in 2025
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