by Elsa Soto | Jun 5, 2021 | Blog, Homes, Villas and Condos, Long Term Rental, Renters
Any relocation process can get a bit overwhelming at times, however, a step in your rental move-in process that shouldn’t be overlooked is filling out a checklist detailing the condition of your rental property. Not only do you need to make certain that the rental is handed to you in a habitable condition, but if there are any serious faults in the property violating health and safety codes, you are able to withhold making your rent payment until repairs are made by the landlord. While some repairs are up to the landlord to take care of, some may also be the responsibility of the tenant, thus making it important to review your lease for those details.
A rental move-in checklist will ultimately make the move-out process and security deposit return easier. Here are ten things that should be on your checklist:
▢ Take photos of any noticeable damages or pests, and document the condition of the unit
▢ Is the smoke detector working?
▢ Are the provided appliances working?
▢ Do the toilets flush?
▢ Do the faucets work, is the water pressure good, and do the drains properly drain?
▢ Do all door and window locks work?
▢ Can all windows open and close properly?
▢ Do heating/air systems work?
▢ Check power outlets
▢ Check your internet or WIFI signal throughout the unit.
Ready to make a Move?
Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.
by Elsa Soto | Aug 28, 2018 | Blog, Buyers, Homes, Villas and Condos, Long Term Rental, News, Property for Sale in Orlando, Real Estate News, Renters
Rent Or Buy: Either Way You’re Paying A Mortgage!
There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize, however, that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.
As Entrepreneur Magazine, a premier source for small business, explained in their article, “12 Practical Steps to Getting Rich”:
“While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re serious about your finances. It won’t make you rich overnight, but by renting, you’re paying someone else’s mortgage. In effect, you’re making someone else rich.”
With home prices rising, many renters are concerned about their house-buying power. Mark Fleming, Chief Economist at First American, explained:
“Over the last three years, renter house-buying power has increased fast enough to keep pace with house price appreciation, so the share of homes that a renter can afford to buy has remained the same since 2015.
Although mortgage rates are expected to rise, they are still low by historic standards, and real household incomes are the highest they have ever been. Assuming this trend continues, our measure of affordability, which takes into account income, interest rates, and house prices, indicates that homeownership is still within reach for renters.”
As an owner, your mortgage payment is a form of ‘forced savings’ which allows you to build equity in your home that you can tap into later in life. As a renter, you guarantee the landlord is the person building that equity.
Interest rates are still at historic lows, making it one of the best times to secure a mortgage and make a move into your dream home. Freddie Mac’s latest report shows that rates across the country were at 4.51% last week.
Whether you are looking for a primary residence for the first time or are considering a vacation home on the shore, now may be the time to buy.
Source: Keeping Matters Current
by Elsa Soto | Feb 23, 2018 | Long Term Rental, News, Property for Sale in Orlando, Renters
Is Homeownership a Part of Your American Dream?
Are You Ready for Homeownership?
According to the latest Aspiring Home Buyers Profile by the National Association of Realtors (NAR), 82% of surveyed renters desire to own a home in the future, with 80% believing homeownership is a big part of achieving their American Dream.
The profile went on to state that 50% of millennials believe that their rent will increase, with 20% believing that an increase in rent will be the catalyst that pushes them to consider buying a home vs. renewing their lease.
So, what is holding renters back?
What would make renters take the plunge?
NAR’s Chief Economist, Lawrence Yun believes that,
“Housing demand in 2018 will be fueled by more millennials finally deciding to marry and have kids and the expectations that solid job growth and the strengthening economy will push incomes higher.”
Yun goes on to warn that,
“However, with prices and mortgage rates also expected to increase, affordability pressures will persist. That is why it is critical for much of the country to start seeing a significant hike in new and existing housing supply. Otherwise, many would-be first-time buyers will be forced to continue renting and not reach their dream of being a homeowner.”
So What’s The Bottom Line?
If you are one of the many homeowners whose houses no longer fit their needs and are looking to move up to your dream home, now is a great time to list your starter home! First-time buyers are out in force looking to achieve their American Dream.
Are you a currently a tenant looking to achieve your goal in 2018? Don’t wait! As home prices are on the rise along with the changing mortgage rates, now is the time to get the ball rolling. Contact your Local Bardell Realtor® today to get some more information about your home purchase!