Renting During a Pandemic: Options to Consider

Last year was an unprecedented one that impacted every aspect of our lives. Our work and personal commitments and routines as we knew it were completely turned on their head and the rulebook was completely rewritten. More and more companies were forced to adapt and have their employees working from home, meaning people were no longer tied down to living a commutable distance from the office. This, coupled with a reduction in areas of rental prices meant that the rent market quickly began to boom.

Employees grasped the opportunity to move out of the city and to a more quaint countryside location, while others took the advantage of moving into these vacant city properties. Yet while this is a great time for opportunities, it is also important to keep your wits about you. Renting is still a big commitment and one that you don’t want to rush into. Before you say yes to a new lease in a new town during the midst of a pandemic, you are going to want to do your research. Here are some things to consider when renting during a pandemic…

Your income stability

You might be in a good financial position now, but this could all change. The current climate means that many jobs are not as stable as they once were and you might end up in the unfortunate position of being on reduced hours, a pay cut or even losing your job altogether. You need to ensure that if the worst does happen that you will be able to continue making the payments.

Seeing the property

In normal times, you look at photos of a property and then will go and view it in person. During the pandemic, face to face viewings don’t always happen, so you will probably be offered a video tour or virtual viewing. Keep in mind that things can look very different this way in comparison to what it might look like in real life. Be sure to take your time with the viewing, looking out for any defects or things you might question in a similar way to an in-person viewing. Ask your rental manager to send you measurements so you can mark them out in your current home to compare the sizing.

The terms and conditions of your lease

Make sure you take note of the terms & amp; conditions of your lease. If you find out in a few months that you don’t want to live there anymore, you need to be sure you can get out of your contract if needed. It is important to ask your rental manager all of the questions you need to know ahead of time so you don’t end up in a tricky situation. Ask what could happen if Covid affects your move-in date or ability to pay rent and what you can do.

These are just a few of the things that you will need to consider going forward. It is important not to rush into any decision that you make and think carefully about your situation going forward. 

If you are looking to find a Central Oregon property management company that always goes above and beyond for you, give us a call today. We aren’t the biggest, just the best.