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Renting Independently

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There are a lot of variables when it comes to renting a home. Fortunately, amidst all your options, there are bound to be several that fit your needs. It's just a matter of finding them. How you go about doing that is entirely up to you, but one thing that you should consider, in particular, is whether or not you want to use a real estate agent or rent independently.

Should You Rent Independently?

The answer to this question depends completely on you and your circumstances. One of the most important considerations for you is the kind of place you are looking to rent; renting a house can be a little more complicated than renting an apartment. Though you certainly could do it on your own, a real estate agent might make the process of renting a house a little easier on you. An apartment, on the other hand, is usually designed specifically to be rented, so the process of doing so should be simple.

Money is the other issue you should consider. Real estate agents are not free. Even with rentals, they get a sizeable commission. That fee is most often a percentage of the price of the rental, so obviously they'll charge more for finding a house than for an apartment.

Consider your situation and budget carefully. Then, decide if hiring a real estate agent is worth it. If you do decide that you would rather save the money, taking on the rental search independently is certainly doable.

Tips for Renting Independently

If you were to hire a real estate agent, he or she would ask you a few questions to determine what you need in a rental. Then, the agent would find options for you to consider. When you rent independently, you have to find the options yourself. Here are some steps you should take:

  • First, figure out your minimum requirements for a rental. Doing so will help you to focus your search. For example, you can eliminate rentals that are far outside of your price range or don't have enough rooms.

  • Next, you can start your search. Use the Internet, classifieds, and real estate catalogues to find options in the area you're planning on moving to. If you're looking for an apartment, you can search online for apartment buildings. Most apartment buildings have their own websites with information on floor plans, features, and pricing. You could also drive around the area, keeping a lookout for apartment buildings or houses with "For Rent" signs out front.

  • Pick out a few places to visit, and set up appointments with the appropriate person (e.g., landlord or apartment manager). Taking a look at several different places will give you a better perspective on your options. Think carefully before making your selection; once you sign a lease, you'll be committed to paying rent for at least 6 months or a year (whatever the term of the lease is).

The extra effort you put into finding the perfect rental will seem well worth it once you've moved in and started enjoying your new home.

TIP: For more on finding a rental see our real estate guide entitled "Finding the Perfect Home".

Adam Mandelbaum  Posted by Adam Mandelbaum on May 14, 2010

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