Rent renewal is a very common problem with tenants. Most tenants usually save up to rent an apartment or had a wonderful business year with huge profit which they use to rent that choice apartment. Although that’s fine, what most tenants don’t put into consideration while saving (let’s assume 2 years) for that choice apartment is the continuity of paying their rent.

This article will address how rent renewal is an important factor every tenant should consider while making the choice to rent an apartment.

Can You Afford a Rent Renewal?

Property owners and property managers are often times faced with excuses like “Oga, give me some more time to arrange my rent”, “market no move”, “my father-in-law/mother-in-law died and we are in the village, when I get back next month, I will pay” (but bros, you can transfer from anywhere), “Oga landlord, if this my switch in the bedroom is not working, I won’t pay my rent”, “Baba landlord, my wife has been sick”, “my grandmother has been sick as well”, “my son is in the hospital”, “my goods are at the border”, “I have not been able to bring them in”, amongst many other excuses you wouldn’t even think of, when it comes to rent renewal.

As a prospective tenant, before you pay for an apartment, you should put the following into consideration:

  • Can I easily afford my rent?
  • How many percent of my monthly salary/income/profit do I have to COMFORTABLY set aside every blessed month to facilitate a smooth rent renewal process?
  • Will I still be able to afford my rent when the landlord/property owner reviews my rent?

These are the vital questions you truthfully need to answer before embarking on renting an apartment or else PROBLEM GO DEY O!

Be generous, share this article with your family, friends and colleagues to benefit from these tips.

Did you miss the previous article on Apartment Hunting? Click the link http://www.feedstrail.com/apartment-hunting-what-to-look-out-for/ The next topic we will discuss would be “WHAT TYPE OF ACCOMMODATION DO YOU NEED”?

Credits: Photograph in Featured image was taken by Morning Brew. Thanks for making it freely available on Unsplash https://unsplash.com/photos/GFexIu9kIRQ

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