Tuesday, December 20th, 2011
Whether you are moving to Spain, France, the USA or China, finding a place to live in your new country should be high on your priority list when moving abroad. Your two basic options will be buying a property and renting a property.
Buying can be beneficial if you know that you are staying in the country for a longer time, the house prices in your destination country are affordable, and if you have the financial means. Renting on the other hand gives you more flexibility, and you can live in a rented property without a huge financial commitment for as long as you want to. If you need some help deciding which option suits you best, read our recent article, Renting Vs Buying A Property Abroad
If you've decided to rent a property abroad, read Britannia's tips on renting a property abroad.
1. Do Your Research
Doing enough research on your chosen country, city an the local property market is a crucial first step to renting a property abroad. Make sure that you are aware of local rental costs, and find an area that suits your requirements best. It is also highly recommended to visit the area in person if you can.
2. Decide On Your Requirements
While you are researching the property market in your destination country, you should make a comprehensive list of your requirements for the property:
- What location would you prefer? The city centre, a suburban area or the countryside?
- Are local amenities satisfactory?
- Length of the tenancy period
- Do you prefer a furnished or an unfurnished property?
- How many rooms do you need?
- Do you have children or any family members with special requirements?
- Do you need parking and/or a garden?
3. Choose A Suitable Location
Once you've established what kind of property you are looking for and have done some initial research, it is also essential to investigate your location thoroughly. Visit your destination country and walk around in the area where you are planning to move to get a feel for its atmosphere. Make sure that local amenities are satisfactory. Depending on your needs, check if public transport is good, if your workplace is easily accessible, and if there are any schools, hospitals or parks in the neighbourhood.
4. Finding The Property To Rent
If you want to find the most suitable rental property, it is essential that you view a few properties before making your final decision, even if this seems complicated to manage during the moving process. Inspect every property you are shown thoroughly, check if it ticks all the boxes on your list of requirements and check if the property is in a good condition. The best way not to forget anything is to take an actual checklist with you to the viewing. You should also consider if you can afford the rental cost and if it seems to be reasonable in the local real estate market.
5. Make Sure You Are Aware Of Local Regulations
The formalities surrounding property rentals will vary from country to country. While in the UK for example, it can be relatively easy to rent a property, in France, you need recommendations and guarantoors in most of the cases. Find out about all paperwork requirements and what landlords need in your destination country. Make sure that you understand your responsibilities, rights and your landlord's responsibilities. It might also be useful to get help from a professional who speaks both the local language and English. If you think this is unnecessary, make sure that you understand what you are signing in the contract. This will be easy if you already speak the language, but if you don't, try to get a friend who speaks the language and can help you.
Let us know about your experience of renting a property abroad by leaving a comment below.