Making Better Real Estate Decisions

Renting can be a great way to secure a home. Renting allows you access to a great property without having to purchase the property. When it comes to renting, a townhome is a great choice. A townhome provides you with a full home space without a big yard to care for while renting. When it comes to renting a townhome, consider these factors to find the right rental.

Tip #1: Create a List of Needs & Wants

First, you will want to create a list of things you need from your townhome to be comfortable living there in the long-term. For example, do you need a townhome close to certain locations, such as a shopping center or a job? Your list could also include things such as how many rooms you need or what type of kitchen you need.

After you create a list of things you need, create a list of things you want. These are things that would increase your enjoyment of the place but are not necessary for you to have.

Having a list of features you need and want will help you find the right townhouse.

Tip #2: Find Out About Insurance Requirements

Second, when you find a place you want to rent, you will want to ask about insurance requirements. It should be up to the owner of the townhome to cover the structure and liability. However, you should also investigate getting rentals insurance and find out if the owner will require you to carry a particular level or type of renter's insurance on the property.

Tip #3: Meet the Neighbors

With a townhome, you will share walls with people on one or both sides of the house. It is important to meet the people that you will be sharing walls with. You are going to hear sound from their home. You will want to make sure you get along with the neighbors and feel like you can communicate with them. 

Tip #4: Find Out About Maintenance

One of the great things about townhomes is they come with very small yards. Often, the yards are designed to be easy to take care of. You need to find out, though, if you are expected to take care of the yard, if the owner will hire someone to take care of it, or if the homeowner's association will take care of the yard. You want to make sure the maintenance is something you can afford and can deal with.

Tip #5: Learn About the HOA Rules

Finally, many townhomes are part of a homeowner's association. As a renter, you will need to follow the HOA's rules, which is why it is important to learn about the rules before signing the lease. You will want to make sure you feel comfortable with the rules.

Keep these factors in mind when looking for a townhome rental.