Renting 101: Mistakes to Avoid and Lessons to Learn
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by Nina Tambal
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Nov 20, 2024
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General
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Are you a first-time renter in the Philippines? Or perhaps a fairly novice renter who’d like to avoid any further pitfalls in their rental journey?
If your answer is yes to any of those questions, don’t fret - we’ve gathered the common mistakes of renters and how to overcome them.
Renting can be daunting in its initial stages, but if you keep yourself well-informed, it may make your experience smoother and more seamless.
1. Failing to research
This applies to both the location of your potential condo and your potential landlord’s track record. Consider the safety and accessibility of your place of interest as well as its amenities.
You have to weigh in on the most practical choice. Let the location work in your favor. This way, you can avoid challenges such as noise, crime, or distance from work or school.
Additionally, do you look at reviews online before buying something? In today’s digital age, it’s highly important to check out feedback on a certain service or product.
This especially applies to your future home. Make sure to browse any reviews or feedback from previous tenants of your potential landlord.
This is where you can see if they have the characteristics of a good landlord like reliability and a sense of urgency to any residential issues.
Furthermore, never trust verbal agreements. They’re great in the initial stages of your talks with the potential landlord.
But at the end of the day, they don’t have any legal weight. Providing rental terms on paper is the best way to solidify an agreement.
2. Neglecting to read the fine print
Much like the long terms and conditions of various websites, it can be intimidating (and even a snooze fest) to thoroughly read your lease contract.
Remember: this is your future home at stake. It is crucial to understand the contract in its entirety, from the rental duration and renewal terms to penalties for breaking the lease.
Other important aspects include the payment terms and security deposit policy. You have to clarify the payment schedule and payment methods.
Plus, if additional fees or deposits are applicable in the provided agreement - ie. whether utilities are already factored into your given rental rate per month.
As for security deposit policies, conditions for its return and any potential deductions will vary per landlord or unit owner. Ensure that you can keep your end of the bargain.
And of course, double-check if the conditions are reasonable for your circumstances.
If you feel more secure in seeking professional help when going over the contract, feel free to do so! We highly encourage the second opinion of a professional.
3. Forgetting property inspections and responsibilities
Seeing pictures of the unit is simply not enough. And when you view the unit in person, have a keen eye out.
Check for any damages and pests; moreover, the overall condition of appliances and fixtures (for fully and semi-furnished units).
Beyond that, book a move-in inspection with the landlord to document your unit’s condition.
This will prove to be useful for both parties in the future, avoiding disputes regarding the security deposit when it’s time to move out.
As a renter, you also must understand your maintenance responsibilities. Always clarify with your landlord who is responsible for specific repairs and upkeep in the property.
4. Ignoring tenant laws and regulations
Tenant rights exist. And you’re better off familiarizing yourself with them. Stay updated about the local rental laws as well - they do change from time to time.
When you know your obligations as a renter and rental regulations, you are able to protect yourself from unnecessary complications.
Final thoughts
So, there we have it - these are the common mistakes we have noticed thus far of renters in the Philippines.Are there any mistakes we missed? Let us know in the comments below.
We’re sure that there are many of you in the rental community with valuable insights. Plus, it always helps to know that you’re not alone in this journey.
Stay informed and happy renting, everyone!
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