How to Avoid Tenant Remorse When Signing a New Lease
You may be tempted to ask: “What is Tenant remorse?” Simply put, tenant remorse, is that gut feeling of regret, which comes after signing a new lease contract agreement and taking over the house. It is that feeling that makes you think the value of what you are paying for, might not be up what you are getting, or that your spouse or children, may not like the property. Thus, before you take a decision and put pen to paper on a new lease agreement, you need to make sure what you are paying for is really what you want.
Here are a few tips to help you avoid tenants’ remorse when signing a new lease agreement;
- Forget the Hype: Why do we say this? Currently, the internet is changing several things. A contract can be started, payments made, completed and even signed online without face to face meeting. All you might see are some extremely beautiful pictures of the property and the rooms in it. This could be through an advert or certain mobile apps. This is not enough. Some of these pictures could be toned up or edited to make them look quite beautiful. As such, you need to forget what you see and visit the property yourself.
- Carry out your own research: This is another big issue in rental properties and real estate. It is very important to note that when you are buying a house, you need to also take the neighborhood into cognizance as well. You wouldn’t want your children growing in a rough environment. Your properties and vehicles might not be safe as well. As such, it is important to carry out your own research on the property before signing an agreement. Endeavor to visit the neighborhood both in the day and night time to see how it fares at such times.
- Assess your landlord or the property manager: Maintaining the property is the duty of the landlord or his representative, which most times, is a property manager. Before your sign a lease agreement, you need to assess your landlord so as to find out if he or she will hesitate to make repairs where the need arises. Ask questions and take note of his response. This could help you know and take your decision because, it could be hell living on a property where the owner does not care about the maintenance of the home. Little issues such as air conditioner or cracks in the wall could talk him time to fix, thus endangering your life in the process.
- Read through the lease agreement: It is quite amazing hearing that some people in this 21st century do not read the terms and agreement or policies that come with a product or service. It is very wrong. A lease agreement tells you a lot, about the property and the landlord. It also says much about the roles you need to play and the roles and repairs to be carried out by your landlord. A lease agreement also mentions a few do’s and don’ts and lists the penalties for defaulting on any of them. The need to carefully read through the lease agreement before signing cannot be over-emphasized.
- Do not rush to purchase a new property: Yes, delay could be dangerous, as you could lose the home to other potential buyers, you might also be struck with tenant remorse after you have signed a lease agreement only to find out it wasn’t quite a necessary purchase in the first place. Like earlier said, once you see vacant properties, whether for your home or business, carry out your research first. Evaluate and draw up a scale of preference. Take several things into consideration, such as the size of your family, nearness to your place of work, car space available before making that decision. When you are sure you truly wish to purchase the property after your evaluation and assessment, you can then put pen to paper on the lease agreement.
In conclusion, that feeling of regret is one feeling no one would want to experience after paying for a property. It could make the rest of your stay miserable. However, with the tips posted above, you can effectively prevent tenants’ remorse.