There are plenty of reasons to rent a home
- no maintenance costs or responsibility
- No surprise homeowner costs
- a great idea if you are not staying permanently
- waiting to qualify and save up for a mortgage
Tips on Renting a Home in Newport
Pros and cons from renting to a Private Owner vs. Management Company
There are advantages and disadvantages to renting from a management company.
Pros: repairs are usually made quickly, responsive to tenant concerns, may have a website to find general information, faster customer service
Cons: Usually more strict on who they rent to, not very lenient if a little late on rent, usually will not accept pets, rent is a little higher
Pros: will most likely allow pets, more flexible on qualifications to rent, sometimes will work with you if you are a little late on rent (depends on the owner), sometimes cheaper rent
Cons: Repairs may not be taken care of quickly, may be harder to contact – this again depends on the owner
In the end, both private property owners and local property management companies have to follow the same landlord-tenant laws in NC so the experience with either one should be fundamentally the same.
Be Realistic with Your Budget
Most financial experts agree that you should spend no more than 30% of your total net income on housing costs. If you’re younger, you may want to budget more than 30%, as entry-level salaries are low, and the rental market is booming, leading to higher costs.
Take Pictures of Everything before you move in
It is very wise to take photographs of every inch of the house or apartment. This can be essential to recovering your security deposit at the end of your lease. It also proves the condition of the house BEFORE you move in, so you don’t get blamed for damage that wasn’t your fault. Document everything. Some uncouth landlords will use your security deposit to pay for broken items or scuffed floors that existed before you moved in.
Also, when you take pictures of everything it’ll indicate to the landlord that you’re a responsible tenant and build that trust with you as a tenant.
Get Renter’s Insurance
Renter’s insurance protects your belongings from theft and other catastrophic losses. In some states, landlord’s rights trump tenant’s rights, and if something goes missing or damaged in your rental unit, you’ll be responsible. So, protect yourself!
Renter’s insurance is extremely affordable, often costing less than $200 a year… it is well worth the price.
If you’re looking for renters insurance in Newport, do an internet search and look at reviews, ask people for recommendations or call any reputable insurance agent (the same type of insurance agents who could sell you auto insurance tend to offer renters insurance too).
By being very details oriented during your search and moving into your new apartment or rental house, you can ensure a pleasant experience for both you and your landlord! For other tips on home rentals in Newport feel free to email us directly or give us a call and we can provide more information and free guides to help you find a great local house to rent… even a Newport, NC and Surrounding Areas rent to own house list in case your main goal really to purchase a house rather than rent… but your current financial state won’t let you get a home loan (we can help!).
Consider A Newport Rent to Own Home
The tips on renting a house in Newport above are quick and simple and apply to a rent to own house as well.
But if your goal is really to own your own house here locally in Newport, NC and Surrounding Areas… but your financial situation won’t let you qualify for a loan (bankruptcy recently, foreclosure recently, your income not high enough yet, etc.) then renting to own a home may be an option for you.
If that’s you… then start on this website by learning about the rent to own process and even get on our Local Rent To Own / Lease Option House list to see the available rent to own homes in Newport, NC and Surrounding Areas.
For Other Tips On Renting A Newport, NC and Surrounding Areas Home
If you have any questions at all don’t hesitate to contact us anytime. We’re here to help! We can connect you with reputable property management companies, provide you free resources as a tenant here in NC that show you your rights, and more! Or, if you do want to learn more about renting to own a local house… excellent! We’ll walk you through the process and see if it’s a good fit for you!