In case you just moved to another country and haven’t managed to buy a house, get ready to search for an apartment or house you’ll be renting. Of course, this decision has its benefits and disadvantages, and you should get well informed about your rights before you put a sign on any contract. If your goal is to spend a year or two abroad, there’s no need for buying property, so you should opt for renting and the text below will guide you through the most important steps toward it.
Where to start searching?
Keep in mind that your home country may have different ways of searching for a property than the country you just arrived in. The good thing is that people in almost every country mostly look for apartments online, and you should follow that tip. There are plenty of things to consider while searching, such as the number of rooms, garden space, public transportation, parking, and at the end, your renting budget. Because of that, it is very important that you have a clear list of your needs and possibilities before engaging in a home search.Think twice about location
The location of your rented property should be your number one priority, especially if you plan to stay there for a long time. Decide if you’re going to rent in downtown or suburb. Of course, the latter is a much better option, especially if you have family and/or pets. Go over the map and see if you can find a decent place near the job, and other essential services such as police, hospital, school or supermarket.
Seek help from an experienced realtor
If you want to ease up the whole searching process, hire a real estate agent. You’ll quickly find at least one in every main street of the suburb you chose. Keep in mind that realtors can’t really help you to find the right place, but they will be happy to show you the property once you find one. In the end, you’ll probably have to deal with more than one agent before finding the right place to rent.Rules and regulations
Immigration is a complicated process, and you should get well educated about all the rules you need to follow in the new country. Keep in mind that renting process is heavily regulated, so pay attention to the following info. For example, let’s say you decided to move to Australia. Keep in mind that the similar requirements will be applicable in other countries as well. First of all, you’ll probably need to pay a month’s rent in advance. In addition, you’ll need to pay a bond which will be claimed by State government body which goes by name Rental Tenancies Authority (RTA). The bond will cost you around four weeks of rent, and this independent holding account will pay you interest once the bond is released.
To apply for rent, you’ll need to sign a contract or "Tenancy Agreement", present your personal and employment references, show your bank account for at least three months with bank statements, provide a few proofs of ID where your name and address are clearly visible. Most importantly, you’ll need to stick to the terms agreed upon in the contract. Be mindful that some landlords are against pets, but if they’re not, you’ll need to pay another two weeks of bond for them.
Don’t forget insurance
Moving to a new country can be overwhelming, but you should always remember to stay safe. Yes, the property belongs to the landlord, but the stuff inside should be insured. Your clothes, expensive electric devices, big pieces of furniture need protection from damage or theft. All of this can be covered through Contents Insurance (renters insurance).
Prepare for inspections
When renting abroad, there are numerous housing inspections. The agent mainly does the inspections alone, but the landlord may come along if they choose. First in line is pre-inspection which will be done by your real estate agent. You are provided with a detailed report of the condition of the property on the day you start renting. Go ahead and take some photos once you arrive, so you can have a proof if something goes wrong and is not your fault. Before you sign the report, make sure to check all claims mentioned in it. On-going inspections are being conducted every three to six months of occupancy. Of course, you should put this in your schedule since you’ll need to be present when the realtor visits. Make sure your rented apartment is in the same state as it was when you arrived. Any damage you made meanwhile will be noted, and you’ll need to pay for the repair. Final inspection are done once you decide to move from the property. Landlord and realtor will compare the state before and after your occupancy and let you know if degradation of the property is higher than usual. All potential expenses deduct from the bond you pay at the arrival.Final thoughts
Renting the property in foreign land doesn't have to be hard, especially if you get well-informed about their laws and customs. Keep in mind that you should act responsibly all the time you’re in a rented property because all damage you make will be paid from your own pocket. The good thing about renting is the fact you don’t have to pay the mortgage, find a large deposit or maintain house you’re in. All of that will be done by the landlord.