If you are looking at properties for rent, you may find the world of rentals to be confusing. There are so many interchangeable parts with different people and different things playing different roles in the process. When do you talk to the landlord? What is a retail portal as opposed to a listing? There many, many different things to keep in mind.
What does a real estate broker do, and what is their role in the process? How much rent must you pay? These questions must be answered in order to have a good experience in getting properties for rent.
Here is our glossary of key people and things that will be involved in getting properties for rent.
1#) Real Estate Portal
A real estate portal is a website that is a collection of real estate listings from various brokers. You can sort the group of listings by the number of bedrooms, set your price range for rent, and more. A real estate portal is a very good place to start if you don’t know what properties for rent are on the market.
You should also know that nothing you see on the real estate portal is official. In fact, the only official terms and conditions of your apartment will come in your lease. For that reason, it is also best to click through the properties for rent on the real estate portal to the real estate broker to see the official listing.
2#) Real Estate Broker
A real estate broker is usually the company that leases the properties for rent. They have the official leases, dimensions, prices, and so on. It is usually not a good idea to start at a real estate broker as this will confine yourself to only a certain set of properties for rent.
While the real estate portal contains unofficial data for research and to help you narrow a selection, the real estate broker has official details. This includes the terms of the lease, the rent, whether you need to buy apartment insurance, and any other official terms of living in the apartment.
3#) Real Estate Agent
A real estate agent can help you in your search for apartments. If you find the world of rentals to be too confusing, you can ask a real estate agent to handle the search. He will not only verify some of the details of the properties for rent, but also work with the real estate broker to get all the details ready for you to sign if you want to get that apartment for rent.
A real estate agent may or may not be related to the real estate broker. He does not have to come from the same company. You can use any real estate agent you want, give them your criteria, and they will try to find the best properties for rent for you.
I used my parents’ real estate agent to find the apartment I am in now. It was a great success. However, I did have to pay him one month’s rent as a commission. So, you should use a real estate agent only if you can afford to pay three months’ rent up front, two to the landlord and one to the real estate agent.
The landlord is the person who you will be pay the rent to. He is also responsible for maintenance of the plumbing, electricity, and any other features that the apartment came with. There are two types of landlords. One is a landlord who is very involved with his lessees. This means that he will stop by from time to time and ask if they need anything and may conduct inspections more than is legally required.
The other type of landlord is the absentee landlord. He or she rarely visits the apartment. If you pay them their money, they are happy. Many people desire an absentee landlord; however, it may be hard to get needed repairs done, especially if the landlord is responsible for them.
From real estate agents to landlords, there are four key people and things you will meet as you navigate the world of rentals. Real estate brokers will lease you the property, while you must pay the landlord. Finally, real estate portals are great way to begin your search. Visit https://www.dubairent.com for more information.