6 Tips for Making the Most of a Rental Property

A rental property sign in front of a house.

If you have even the slightest inclination to buy a house some day, then you probably know that the real estate market is on fire at the moment. As the effects of the COVID-19 pandemic have decreased, millions of buyers have entered the market for the first time. This has caused real estate prices to spike, and it’s not unheard of for individuals to pay huge sums in order to purchase hot properties at the moment. Thankfully, you don’t have to overpay for a house if you’re not ready or willing to break the bank. Renting your first home can be a viable alternative for many people instead.

On that note, today we’ll explain some key tips that renters can use to make the most of their property. While you may not be able to pull off a full-scale renovation as a renter, you can spruce up a rental space to make it your own. This blog will show you how: 

Inspect the Property Closely

It’s certainly not a good idea to buy a property without inspecting it thoroughly beforehand. In the same way, it’s not wise to enter into a rental agreement without first taking a close look at the house –– and the area –– in question. Remember, you can’t make big changes to a rental property. So if there are issues with the foundation, or the neighborhood, or other fundamental aspects of the property, then consider passing on it. Rushing into a rental agreement is a mistake you could soon live to regret. 

Find a Trustworthy Landlord

Even the best houses need upkeep and maintenance from time to time. If you plan on renting a place, then always talk to your landlord before you finalize a deal. Ask them about their renting experience and what services they will provide for you. Again, finding a trustworthy landlord may be easier said than done, but it’s essential to your domestic peace of mind all the same. 

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Maximize Your Space

Sometimes renters have to settle for houses or apartments that are smaller than they would ideally like. However, this doesn’t mean you can’t enjoy a small rental space! The key is to maximize the space you have available to you. First, you can use moving to a new home as an excuse to declutter and throw away and/or donate items you no longer need or use. In addition, you may consider buying furniture that can perform multiple functions. A coffee table can stand in for a dining table in a pinch, for example. Lastly, store your possessions in a regimented way. Vertical shelves and stackable storage boxes are great products that you can use to keep your rented home in order. 

Use Everything

If you have a basement in your rented home, then use it in some capacity. The same goes for a garden, garage, or attic. Remember, you’re paying for use of the entire property –– so be willing to make good use of every inch of it! Note also that you will want to take advantage of every appliance in a rental home such as ovens, refrigerators, and washing machines to name a few examples. 

Decorate Strategically

What should you do if you love a house for rent, but you hate the fake wooden floors in the living room? Rather than putting up with them, you can cover them up with a strategically placed rug. The same can be said for decorating walls too. By adding artwork and posters that mean a lot to you, you can transform a drab room into a truly welcoming and comfortable living space. There are some other unconventional ways that you can make your home more appealing. Replacing the lights with softer, more eco-friendly bulbs can drastically change the feel of your home. As can purchasing “natural” products like plants or small aquariums. One final point: if you have a pet like a dog or cat, make sure to find a property that will work for them as well as you!

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Live Well

Renting a home can be a great economical choice for millions of people across the country. As a renter, you’re not responsible for mortgage payments or major home maintenance costs. So you should be able to spend more time and money on things that really matter to you! Of course, living well can mean a lot of things. You may use the extra cash you have from renting to plan a vacation. Or, you may decide to make your health a priority by visiting a clinic such as Northwest Surgery Center for help with foot pain. The point is that by deciding to rent you should have the freedom and the surplus income to address important issues in your life. 

While renting may not be an ideal solution for everyone, you can make the most of it by following the above tips.

 

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