Checklist to assess a rental property

June 15, 2015
checklist for rental property
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Location

  • Is the property in an area that suits your lifestyle?
  • Are there transport amenities nearby?
  • How far are the local shops from your door?
  • Do the premises offer bonus location features – water views, nearby schools, cafes/restaurants?
  • Is there noise from main roads, neighbours, etc?

Size

  • If you’re going to share, are there enough bedrooms/bathrooms for all of you?
  • Are the main living areas large enough to accommodate you, your partner and/or family?
  • Will your existing furniture fit in the new layout?
  • Are there private outdoor living areas, such as a yard, courtyard or balcony?

Layout

  • Are there any shared/common walls that could cause potential neighbour disputes due to noise?
  • If the premises are on a busy street, are they on a higher level (to diffuse the noise and pollution impact)?
  • If on the ground or first floor, is there adequate external security?
  • Does the internal layout suit your lifestyle and expectations?

Bonus features

  • Is there one more bathroom, ensuite, study or living area than in other properties of similar value?
  • Does it have built-in wardrobes?
  • Does the property have unique features such as historic preservation or art deco style?
  • Is there a garage, car space or security storage area?
  • Does the property have access to additional facilities, such as a pool, gym, spa, tennis courts or sauna?
  • Is there an elevator?
  • Do the premises have security intercom access or other external security features?

Lease terms

  • Is the asking rent reasonable, overvalued or undervalued compared to properties of a similar nature in the area?
  • Is the lease term within your expectations?
  • How long is the lease for?
  • Is there a lease-renewal option?
  • What is the move-in date?

Choosing the right rental can be daunting, but with this handy checklist you’ll have a clear idea of what you’re after in no time.

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