In the following piece, we’ll take a look at some suggestions for renting a home in South Jersey that you should think about when renting your next home. These suggestions are important things to keep in mind.
As real estate prices continued to fall throughout the latter part of the 2000s, an increasing number of people decided to rent rather than buy a home. There are many situations in which renting a home is preferable to buying one. Some of these scenarios include the following: a desire to avoid the costs associated with home maintenance; a desire to reside in a more congested area of South Jersey; or a desire to condense one’s living quarters.
Tips on Renting a Home in South Jersey
Should I Rent From A Private Owner vs. Management Company?
There are advantages and disadvantages to renting from a management company.
Repairs are typically completed rapidly by management companies, and the companies are quick to respond to tenant complaints. On their website, forward-thinking businesses might provide the option to pay the rent, make requests for maintenance and repairs, and find answers to other questions. Property management companies in [market city] are typically picky about the individuals to whom they will rent their available units. They are more likely to run credit checks, and certain score thresholds are required to even be considered as a tenant. There are a significant number of property management companies that are hesitant or outright unwilling to rent to tenants who have pets.
Property management companies, on the other hand, have a propensity to charge rents that are at the upper end of the market because they are aware of what the “going rate” is.
The criteria that private owners use to decide who they will rent to are typically more lax. Many people are renting homes that they own in their retirement accounts in order to pass the time before they retire, so they are simply looking for an occupant to move into their home. If you have problems with your credit or if you own a dog or cat, it may be in your best interest to find a private owner.
Because they don’t want the hassle of finding tenants or because they simply may not know the local South Jersey rental housing prices well, private owners often may rent a house at a slightly lower price than a property management company. This is because property management companies are paid to find tenants.
In the end, local property management companies and private property owners in South Jersey are required to comply with the same landlord-tenant laws, which means that the experience with either one should be fundamentally equivalent to the other.
Be Realistic with Your Budget
Most financial experts agree that you should spend no more than 30% of your total net income on housing costs. If you’re younger, you may want to budget more than 30%, as entry-level salaries are low, and the rental market is booming, leading to higher costs.
Take Pictures of Everything
It is of the utmost importance to take photographs of the entire apartment or house that you rent in South Jersey after finding your next place to live there. This should be done prior to signing the lease. At the end of your lease, this may be one of the most important steps you need to take in order to get your security deposit back. Some unscrupulous landlords will use the money from your security deposit to pay for damages that were already present in the rental property before you moved in.
In addition to this, the landlord will see that you are a responsible tenant when you take pictures of everything, which will help to build trust between the landlord and you as a tenant.
Get Renter’s Insurance
Renter’s insurance protects your belongings from theft and other catastrophic losses. In some states, landlord’s rights trump tenant’s rights, and if something goes missing or is damaged in your rental unit, you’ll be responsible.
By purchasing renter’s insurance, your belongings will be protected. Renter’s insurance is extremely affordable, often costing less than $200 a year… which is a no-brainer.
If you’re looking for renters insurance in South Jersey or Philadelphia, just pick up your phone book and call any reputable insurance agent (the same type of insurance agents who could sell you auto insurance tend to offer renters insurance too), or head online and do a quick Google search for “South Jersey insurance agents,” and you’ll find a whole list of agents to choose from.
By being very detail-oriented during your search and moving into your new apartment or rental house, you can ensure a pleasant experience for both you and your landlord! For other tips on renting a South Jersey or Philadelphia home, feel free to email us directly or give us a call, and we can provide more information and free guides to help you find a great local house to rent… even a South Jersey rent-to-own house list in case your main goal is really to purchase a house rather than rent, but your current financial state won’t let you get a home loan (we can help!).
Consider A South Jersey Rent to Own Home
The tips on renting a house in South Jersey above are quick and simple and apply to a rent to own house as well.
But if your goal is really to own your own house here locally in South Jersey… but your financial situation won’t let you qualify for a loan (bankruptcy recently, foreclosure recently, your income not high enough yet, etc.) then renting to own a home may be an option for you.
If that’s you… then start on this website by learning about the rent to own process and even get on our Local Rent To Own / Lease Option House list to see the available rent to own homes in South Jersey.
For Other Tips On Renting A South Jersey Home
Please do not be hesitant to get in touch with us at any time if you have any questions at all. We are here to be of assistance! We are able to put you in touch with reputable property management companies, as well as provide you with free resources that show you your rights as a tenant in the state of New Jersey, and much more! Or, if you are interested in learning more about the local rent-to-own housing market, that is fantastic. We’ll explain everything step-by-step and evaluate whether or not it’s a good fit for you.