If you don’t have the 20% down payment required to purchase a house or simply don’t want to make a commitment to such a large investment, a rental home is often an affordable and effective solution. You can enjoy house life—a yard, space to spread out, maybe even a garage—without worrying about property taxes or the expense of roof, furnace, and electrical maintenance. However, before you rent a house, you should be aware of the following.
What to Consider Before Leasing a Rental Home
1. The Neighborhood
What kind of neighborhood is the house in? Does it seem to be stable, declining, or improving? If it's declining, you may not be happy with the neighbors who move in over the next year. If it's improving, you may face a rent hike when it's time to renew. Try to choose a stable neighborhood for long-term satisfaction.
2. The Yard Work
If you’ve only rented apartments in the past, you may not realize most landlords expect their rental home tenants to take care of lawn maintenance. Are you prepared to mow the lawn every week? Failure to do so might constitute a breach of the lease agreement. Depending on the neighborhood, it could also garner ugly looks or even sharp words from your neighbors.
3. The Possibility of a Sale
Some owners of rental homes became landlords simply because they couldn't sell the house before they had to move out. You may be helping them pay the monthly mortgage payments until they find a buyer. If that’s the case, you might have to put up with potential buyers and real estate agents touring your home occasionally. Then, if the property sells, you'll have to find a new place to live once your lease expires. When searching for a house, keep in mind that a property management company is far less likely to put their homes on the market.
If you’re interested in a rental home, contact David McDonald Rentals in Hinesville, GA. They’ve served tenants throughout Liberty County for nearly 30 years. They also specialize in office and mobile home rentals, ensuring the perfect space for each and every tenant. Visit their website to browse vacancies or call (912) 368-9218 to ask about a house or commercial property.