Look out for affordable houses for rent, but beware of hidden fees and poor service. With a rental market that is changing every day, finding a decent home to live in has become an increasingly difficult task. One thing you can do is stay up-to-date with the newest listings on the market so that you know what to expect when out looking for apartments for rent hong kong.
What is the Rent/Purchase Cost?
The first thing to look out for when considering rental houses or apartments is the rent/buy price. You want to make sure that you can stretch your money as far as possible when looking for houses and apartments.
The cost of a house or apartment that you are buying may very well determine whether or not you can afford to buy it. Such a drastic change in prices can be overwhelming- think of the concept of having to pay twice-the-price for what was a cheaper unit in the past. Don’t forget that properties that are outdated and no longer considered ‘neat’ by buyers also come at a premium.
How is the Property Renovated?
It is also good to consider the quality of the property in terms of amenities, layout, and condition when looking for rent house hong kong and apartments. The condition of an apartment or house will be a major deciding factor if you are going to be renting it out or selling it at some point.
If you can afford a renovation because you have a plan for what you would like to do with it, then perhaps that is a great way to think about buying.
What Is the Maintenance Fee?
One of the most overlooked costs is the maintenance fee. When you are looking at the unit in detail, you will come across a section that has it listed. Read the fine print, and make sure all of your questions are answered. If it’s a new lease on an apartment or house, ask where the annual maintenance fee would be if it is paid after signing on a year lease agreement and how much it would be otherwise.
Are there any Additional Fees?
There may also be hidden fees and charges that you have to endure when renting houses and apartments. These can be very normal fees such as a property management fee or a cleaning fee, but they may also include fees for utilities, cable TV, trash removal, or anything else unexpected.
If you are not aware of these charges and are careless about what you are signing up for, your renter will wake you up one day to say that they were charged $500 to have cable installed in their apartment. If you did not know this charge was going to be there and read the fine print at all times, $500 could actually be a lot more than what it really ends up costing you.