Undoubtedly, every one of us needs a place to lay our heads. After a long day, to come back to that unparalleled comfort, with nothing short of luxury living and perfect finishing. A home, a place of peace, the ideal serene environment to raise your kids and the perfect space to proudly call your home. Owning a home is an ideal investment, however, if you wish to rent instead, either for a short stay(on vacation) or on the long term, what a bummer it would be to not get it right! Should it be location wise, or getting scammed; here are seven tips curated just for you that will help you avoid some mistakes if you are just about to rent in Ghana.
Looking for a place to rent can be tedious, especially when you have little or no time to move in, nonetheless the key tip is to always remain as patient as possible. Do not rush the search process. Do not compromise on getting what you truly want due to time constraints or pressures. The goal is to avoid any lingering regrets after paying a huge amount of money and endorsing a contract/lease to a home you are unhappy about.
Now, let’s start of with the first mistake you must at all means avoid;
Picking a Place Out of Your Budget
Always remember that your budget plays an enormous role. Picking a home that is way out of your budget will only send you packing and looking for another as soon as the rent ends. Thus, picking a place out of your budget will only destroy the continuity and may end up paying more especially on logistics i.e moving your belongings from one property to another, every now and then.
That’s not all, the countdown stress, to the day your rent ends knowing very well you cannot raise the down payment to continue your stay. This is something you definitely want to avoid!
PRO TIP: Always remember that every house owner, developer or broker has a range of properties. Speak to them and be transparent about your budget. A homeowner, developer or broker most definitely wants the best for you and each and every one of their clientele to ensure a healthy continued niche of happy client list. Feel free to let them know how much you can spend and allow them to take it from there. Trust that they’ll sort you out! At locus real estate you can speak to a customer relations manager who will be like your personal guide to find out more about your options.
A Location Too Far From Your Place of Work, Business or Children’s School.
Indeed, your dream home may be in a location hundreds of miles away from you. But never be swayed by the excitement. It’s easy to get excited about a home when you see it for the first time, especially when it lines up with your vision for size, interior and amenities. Ensure you’ve accounted for all the other details, big and small, that could impact your living experience and a main one is LOCATION. Remember that to have a complete living experience, convenience plays a major role. If you rent in a location that’s too far from your place of work, business or even where your children go to school, you’ll spend hours just to and fro from your home, not to talk of an increased fuel consumption you may have to consider as well.
As mentioned earlier, home owners, developers or brokers usually have many other homes spread over the country with the same quality, luxury or standard you may be looking for. Do not trade-off letting them know of any reservations you may have. Locus Real Estate has a wide range of properties in Cantoments, East Legon , East Airport, Tse-Addo… you shouldn’t hesitate to speak to our sales representatives, trust that they’ll give you nothing but the best standards of luxury to your satisfaction.
Signing a Contract Without Reading Through, Thoroughly.
Always remember that renting, the same as buying a home, is a major decision that requires careful consideration. Whatever agreement you come into terms with your landlord, reading through your leasing agreement thoroughly is as important. Everything in that document should tally with exactly what you have discussed. Do not sign if there have been any additions or subtractions.
PRO TIP : Your lease should cover everything, whether it’s payment schedules and late fees penalties, painting and decorating, maintenance, duration, rent charge. It should additionally highlight community guidelines, the process for repairs and damage. The document should also address contractual issues such as what to do if you need to break your lease etc.
Do not move in if you have not been given a document as such, also, do not sign if you have not read through and you are not thoroughly satisfied with the terms.
Zero Due Diligence (Not Making Sure You Are Working With the Actual Landlord or Property Manager to Avoid Being Scammed)
In every lucrative sector, there are always a group of Ill minded individuals who turn to tarnish the image of genuine real estate business men and women. Be sure to be certain that you are working with the actual landlord and nobody else. If you are working with a broker, be sure to have seen their portfolio to ascertain their presence in industry. Do not pay cash or make a deposit to any individual you have not done your behind the scenes checks on. Due to the presence of the internet many individuals are hiding behind ghost pages to scam innocent persons. So do well to visit the property, speak to the inhabitants of the neighboring homes to give you more information as to who actually owns or manages the property
Renting a Property With No Access to Water or Electricity
Many people end up renting properties and afterwards struggle with basic necessities such as water. Make sure that the property you are renting provides you with a constant supply of water and even electricity back up before you move in.
Do I get a generator or plant back up?
Does this property have a reservoir?
How many water storage tanks am I entitled to?
How often do the taps run around here?
Every top-notch development should be able to provide you with these. Also, their developments/properties already factor these basic necessities even at the breaking ground stage.
Neglecting All Other Possible Costs That May Come With Your Rent.
If you are renting in the right development, your comfort is the top-most priority of the developer. Aside from the luxury interior finishing, the perfect exterior touches, there may be additional costs associated with utilities, trash pickup, parking(not always), usage of community amenities, concierge services, WiFi, pets and the like. Make sure to review your lease and ask the property manager about any additional fees.
If you find these costs unnecessary additions or services you may not need, for example; you do not own a pet, speak to the property manager to see how best this can be solved to your satisfaction.
Also, if there is an extra service you require, speak to the sales representative or property manager and they’ll definitely have it put together for you.
Not Outlining Your Comfortable Payment Structure
At the beginning of this article, we highlighted budget. Even though being transparent about your budget is great, how would you like to pay?
Would you like a monthly installment? Year advance, 2years, 5years? Or you’d like to pay daily? Thus, you must verify the payment structure and platform with your property manager/broker. Some operators may collect a monthly rent check. Others may have an online resident portal where you can set up a recurring deposit.
Would you like the amount converted into Cedis for you or into your local currency from whichever country you are comfortable with? Would you like to pay in cash? Or cheque? Nonetheless, make sure you’re comfortable with the setup/payment option you are given and know when and where to pay on time.
PRO TIP : Make sure to pay your rent on time. Most operators have your best interest at heart. However, to maintain the standard of living they are providing you, bills have to be paid to maintain the property. Thus, most operators may charge a fee if your rent is too late. If you may like a reminder, request.. to be subscribed to their mailing list so you can be gently reminded when your rent is almost due.
Renting may not always be easy but hopefully these 7 mistakes most definitely should be ones you can easily avoid henceforth! If you are looking to rent we got you.
Here are some of our luxury apartments.