You are probably excited to be on the lookout for your first home to shop. Most likely, you are doing this together with your spouse, partner, friend, or a family member.
This is a huge leap and a very brave thing for you to do. A new place to live in will mean that you are ready for many great life changes. This also goes on to say that there must be some key things you must look out for when renting out a new apartment, or a new condo or if you may have an arrangement to own any Cambodian property after some time, then these will be helpful to you, too.
To be better prepared, here are five key things to look out for when you are looking for a property to rent.
- Location
- Budget
- Amenities and Safety Features
- Property’s Age and Structure
- Friendly Landlord
These 5 things will be easy to check so let us begin…
1. Location
The property itself may be great but you also need to consider how near it is to essential places like hospitals and markets, or somewhere to get basic needs from. Although you may still need to work from home, also consider the travel time to and from the office once things go back to how they used to. Bottomline, make sure where you live, work and play are all easy for you to be in.
In Siem Reap, for instance, check your options on how you plan to get to your destination from your place. Will you ride a bicycle, a tuk tuk, a car or a motorcycle? You can put these in your list of personal deciding factors.
2. Budget
It is important that you know just how much you are willing to pay for before you even begin. For example, in Phnom Penh, listings can go from USD$450 to USD$3,000.
There are many ways to ensure that there is a budget for rent. You can follow the system of putting money into jars. It can be a literal jar or bank accounts. The idea is to set aside five Jars: one for daily expenses, insurances, long-term savings, education and play. After setting aside the money, you will now have an idea where to get the rent from.
You might like: Should you buy or rent your next home?
3. Amenities & Safety Features
Many apartments and condominiums have amenities that cater to young people, so you will most likely find many multi-purpose studios and gyms as part of the building. Some even have swimming pools too.
Those are great. Just make sure that there also is 24/7 security available and that there are provisions for a fire escape, fire hydrant, fire extinguishers, water and electrical supply and internet services.
These are now part of your basic needs as one who either rents or owns an apartment or condominium unit. The idea is for you to make sure you talk to the landlord about the additional costs that they will put in for additional services.
4. Property’s Age and Structure
If you plan to rent, say a condominium unit, the building must be safe and must be able to stand sturdy for about 50 years. So, it is also a good idea to check the integrity and safety of the building complex where your unit will be. The newer the building, the better. This gives you enough time to settle in and when life situations become better, you can decide to transfer to a longer term property.
If you are fortunate to find a unit to rent that is fairly new, then you have a much longer time to enjoy being there.
See also: Fix It or Forget It: Who’s in Charge of Repairs in Your Lease?
5. Friendly Landlord
Having a landlord who you rent from, who is easy to talk to, can save you a lot of energy by not getting stressed out when there needs to be something repaired or when there are concerns about the apartment or condominium unit you are renting.
You can get a feel of this when you are already talking for the first time. Use this to get to know each other. Once everything that needs to be discussed has been talked about and a written agreement is prepared, make sure that the terms are all discussed (including when payment is to be made and how it will be settled) with you, so there will be no surprises.
See also: Factors to consider before signing a lease in Cambodia
Having all these five aspects in mind, you’ll surely find an apartment or condo that you will be comfortable living in.
KH