Finding an Apartment for Rent

So it’s that time in the life of a young man/lady where independence comes knocking and the idea of moving out of the family house and into your own apartment pops up; or you are tired of your present apartment and want a change but you are blank as to how to go about the process of getting that apartment of choice in a specific area/neighbourhood, the steps that would be discussed shortly should serve as a guide to getting that desired apartment.

Although the excitement of moving out and getting your first apartment could be overwhelming, it is worthy of note that the process isn’t exactly an enjoyable one;not trying to scare you here though. Enough of the small talks and let’s go into the main details:

PLANNING: The process of renting an apartment is sometimes a lengthy one, therefore adequate planning and research bothering on what fits your need and budget is a necessary factor. Definitely at this point, you already have a clue as to what you desire/want of your new apartment as regards size, neighborhood/location, accessibility and other ancillary services/facilities but it is key to put into consideration your financial capability. You wouldn’t want to skip the planning stage and go falling in love with that apartment of which you don’t have the means financially to move into. It could be pretty devastating you know! As the saying goes “failing to plan, is planning to fail”.

THE SEARCH: Being 80% sure as to what you desire/need in an apartment and knowing exactly what you can afford financially, the next step would be to go in search for it.

There are numerous ways of carrying out your search. Going through property listings online and in the dailies is a good place to start. Also during your movements across town, try looking out for “TO LET”signs on buildings or in neighborhoods that appeal to you and place a call to them to find out more about the property.

During your spare time, you could also take a stroll or drive within selected neighborhoods of choice and make enquiries on available spaces/apartments and rental trends. Do not underestimate the power of networking among colleagues and friends; a word about your search to them could help speed it up.

This stage is sometimes the longest and usually hectic and due to busy schedules, a lot of people do not really have time to do the search on their own: it is advisable to consult and engage the services of a Real Estate agent/Realtor and not quacks or charlatans. Beware of so called estate agents who charge money to carryout search and conduct inspections. To speak with a Real Estate agent about your needs, click here.

INSPECTION/RECONNAISSANCE: when you must have gotten a series of feedback that fits your requirement or taste from the real estate agent after he must have conducted the search on your behalf, the next step would be to make out time to see the sought out apartments. Ensure you have several inspections of different apartments/spaces before you make your final decision. It is unwise to base your final decision on just one inspection.

Inspection basically involves taking a walk-through with the landlord or his managing agent in an apartment that is up for rent. The idea in inspecting the space/apartment is to have a thorough look before you take possession. This affords you the opportunity to take note of pre-existing problems within the apartment which needs to be rectified before moving in; otherwise, the landlord may try to make you pay for these damages later on.

Essential things to look out for includes cracks in the wall or floor/tile, stains on wall or floors, leaking roofs and pipes, faulty light points/sockets etc. Take note of utilities/ facilities available in the apartment ranging from the source of water, electricity and if available gas supply.

Another angle under the inspection is “reconnaissance” which involves you carrying out your private investigations before paying for the apartment to avoid future problems that could affect your stay in the apartment. Take a visit to the premises on a later date, find out more as regards the experiences from other tenants living there if any before finalizing. If it is a detached house/apartment, try to snoop around get any information on if there is some form of encumbrance by the government or immediate family on the property. You wouldn’t want to lose both your money and the apartment as a result of these.

You should also demand for the evidence of the latest payment of utility bills on the apartment/space so as not to incur the bills of the previous occupant.

     SIGNING THE LEASE: the lease basically is a contractual agreement between the landlord and the tenant and once signed, it becomes binding on both parties. It is very important that you read through the whole document. Make sure that all terms and conditions stated in the lease agreement are exactly what was discussed initially when making enquires. If the document isn’t clear enough to you, ask questions about anything unsure. Consulting with an attorney or a colleague familiar with such is advisable.

Conclusion: Do not rush into getting an apartment without taking the proper steps and get trapped in an unfavorable tenancy of 1-2 years; it could really be troublesome.

The above steps may seem lengthy and tedious, but it is worth the time.

If you have any personal experiences or contributions, please do share them in the comment section below. You never can tell, you might just be helping someone out there.

For assistance on getting an apartment/space for rent either for residential or commercial purpose in Lagos, click here