What are the risks of renting a property?

Searching for a rental home is associated with risks and lack of security. In order to protect yourself from mistakes and unpleasant consequences, it is necessary to familiarize yourself with the risks of renting a property.

What do you need to know when renting a property?

• If you have decided to look for a home on your own you should pay close attention to the owner as they are likely to only take a deposit and give the property to someone else. For this reason, consider very carefully whether the landlord is honest and whether you can trust each other.
• If you have decided to look for a rental property through an agency you should definitely sign a preliminary contract.

You are likely to come across a property for rent that is also for sale.

In many cases, landlords rent out homes while also listing them for sale. In this way they aim to earn extra income until they find a real buyer. This can put you in an uncomfortable situation as a tenant because there is a high risk of you being left without a home due to its sale.

To prevent such an uncomfortable situation, you should ask the landlord in advance if they are interested in selling the property and whether they are likely to put it up for sale unforeseen.

Possibility of excessive costs for repairs to the property.

According to the law, if major repairs are required to the property, they are to be borne by the property owner. While any minor repairs such as painting, replacing furniture, repairing flooring and much more are borne by the tenant.

All obligations should be included in the tenancy agreement so that future disputes can be avoided.

How can you avoid the risks of renting a property?

One of the safest ways to secure your rights as a tenant is to sign a tenancy agreement. It is binding as both parties have the right to choose the terms that will be contained in it. It is advisable to sign a contract that protects your rights as a tenant as much as possible. It is good to know as the tenancy agreement is bilateral as a statement between the two parties you need to carefully clarify what the tenant and landlord should do. For this reason, proceed to ensure maximum security and peace of mind by notarising it.