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Make a Rental Plan Prior to Starting a Search for Your Next Rental Home

Simplify your rental search by formulating a plan that will help you narrow down your choices and find the perfect rental for your and your budget.

Don’t start your rental search until you make a rental plan. Putting together a rental plan before searching for your next North Carolina rental home will not only make the search process smoother, but it will also help you find the perfect rental property to fit your budget and lifestyle. Use the following steps to put together your rental plan today.

Set a Realistic Rental Budget

Before beginning a search for your next North Carolina rental home, you must understand how much monthly rent you can afford. Your landlord or property manager will factor in the rent amount and your monthly income before approving your rental application. So, understanding how much you can afford before falling in love with a rental listing is the smart move. Here’s a helpful guide for determining a realistic rental budget.

Review Your Credit Report

While not absolutely necessary, reviewing your credit report will be useful so you are not surprised by any questions a property management company may have for you. Why would they have questions regarding your credit report? Well, more often than not, part of the tenant screening process will involve pulling a credit report and, at a minimum, looking at your FICO score.

Where Do You Want to Live

A vital part of your rental plan will be determining where you want to live. A smart approach to developing a rental search plan is to compile a list of locations (three or four) for your rental property search in case your first option is unavailable based on cost or lack of vacancies. Take the time to visit these locations in person to get a first-hand feel for the neighborhood. Try to visit at times when you can get an idea of traffic volume and work commute times.

How Do You Want to Live

Do you want to live near outdoor parks and recreation areas? Do you enjoy the vibrant energy of downtown living? Do you like quiet neighborhoods with restaurants, shopping, and bars within walking distance? Are you looking for a low maintenance rental property with no yard upkeep such as a condominium or townhome? Is an on-site swimming pool and fitness area important to you? Ask yourself questions like these to determine how you wish to live and, in turn, to help you eliminate rental listings that don’t fit your lifestyle.

Roommate(s) – Yes or No?

Would you consider living with a roommate if that was the only way you could afford renting a home which fits all of your rental preferences? If you answered no, then you can quickly eliminate anything outside of your rental budget. If you answered yes, then you can expand your rental search. Take the time to think about this question. The last thing you want to do is sign a 12-month lease and come to the realization that you hate living with a roommate.

Are Pets in the Picture?

Do you have a pet now? Would you like to own a pet? Your rental plan should address the issue of pets because some rental properties allow them and others do not. Those that do allow pets will likely have restrictions and you should expect to pay additional fees. You will need to understand the property management Pet Policy in advance because it may mean adjusting your monthly rental budget to include pet fees.

Do you have any questions about finding a rental home in North Carolina? Contact us at Red Door Company, and we’ll be glad to answer your questions and help you find your perfect North Carolina rental home. Want to start looking now? Browse our rental listings in Raleigh, Durham and Chapel Hill.