In 2023, buying a home isn't a possibility for every family. The best move is usually to rent until you've saved enough money to buy. If you're in that position, you're not alone. 34% of American households rent--that's over 114 million people.
Fortunately, plenty of homes are available to rent here in Lake Havasu!
In today's post, we give you five tips for finding which of those homes for rent will suit you and your family. Keep reading; we guarantee you'll have the perfect rental house in no time.
1. Get a Set of Criteria
Start your search by developing some criteria for your ideal rental home. There are many different types of rental properties in Lake Havasu, so knowing what you're looking for will help narrow the selection down.
For example, the size of your family will determine what type of home you need. If you need to be near a particular school or your job, you'll want to find a rental property in that location.
Doing this before you start your search will give you focus and help things move along faster.
2. Have a Budget in Mind
You'll need to understand your financial limits. Having a household budget will give you a sense of how much of your income you can dedicate to paying rent.
Most financial experts advise people to spend no more than 30% of their income on rent. For example, if you have a household income of $6,000 per month, your budget for rent should be $1,800 maximum.
3. Prepare for Applications
There's plenty of rental inventory in Lake Havasu, but not so much that there isn't competition for rentals. Every landlord also wants to ensure they get the best possible tenant in their investment property.
Prospective tenants must complete a rental application and consent to a background check before a landlord accepts them. Ensure your credit is in good standing, and contact previous landlords to ask for positive rental references.
4. Frequent Viewings
Getting out there and viewing as many rental homes as possible is vital. A property that might not look amazing in photographs could be an ideal home for you and your family.
You'll never know if a place is suitable if you don't see it in person. Armed with your list of criteria, you can slowly rule places out until you find the right one.
5. Ask Questions
A rental property is only as good as its landlord. The landlord may own the home but needs tenants to live in it. Your job is to ensure you'll have a good experience in the home.
Don't hesitate to ask questions about a house you're considering renting before filling out an application. Finding out about maintenance and how the landlord operates will help you make the all-important decision to continue with the application process.
Property Management Services Can Help Find Homes for Rent
Finding homes for rent can be daunting. If you're having difficulties getting what you want in Lake Havasu, a property management service can help. Landlords often hire property managers, but they can also be an excellent resource for renters.
Contact PMI Lake Havasu or view our inventory of homes for rent. Our team works hard to get all our customers into homes that suit them.