Find Out Whether You're Secure In the Rental Market

With property prices so high it can be, it can be difficult to enter the property market. This leaves many renters in a predicament of insecurity when it comes to their long term home. The current generation of millennials are labelled as many as ‘generation rent’ as the property market has been pushed too high for many people to even consider putting a deposit on their own property, let alone plan for retirement. With such a high proportion of young renters and very little to protect those renters, let’s have a look at some of the risks involved in renting a property and how to avoid them.

Eviction is the biggest concern to most renters, and with a bad economy and high house prices many renters can find themselves evicted suddenly. Unfortunately there is not much that can be done about a sudden eviction, however there are strategies to deal with the stress that comes along with it. If you find yourself in a situation where the landlord wants possession of their property, it is important to remain calm. This can be difficult when the rental market is so competitive, however staying calm will allow you to assess your options. 

If you need to leave a previous rental property suddenly and have not found somewhere to stay, ask around with your friends or family and see if you can stay with someone for a couple of weeks. Once you have a temporary roof over your head you can plan your attack. Although the idea of sharing with someone can seem tedious to most people who, it can be a great alternative while you find your feet and try and find the perfect property to rent independently. If you have a family, possibly speak to the landlord and see if you can negotiate the time you move out. If you are still unhappy with the results, as a tenant you have a legal right to dispute any decisions made, as long as you do it within the designated time frame.

Another growing concern in the rental market is the security of a rental property from burglaries or damages. Many people dismiss the idea of contents insurance when they rent as they often think they won’t be eligible as a renter. However, there are services available that provide contents insurance to renters. A renters insurance quote is often free and can provide advice on how to protect their possession in the case of not only burgalaries, but also flooding and storm damage. Despite many people thinking it is not necessary, it does supply an extra layer of security and peace of mind for many when purchased.

If you do find yourself in a difficult predicament in the rental market it is best to get legal advice. Remember to stay calm and negotiate your rights. Protecting yourself from an early onset can alleviate your stress from accidental damage or robberies, meaning you can claim for the damages that have occurred. Hopefully you never find yourself in this predicament, however if you do remember these tips.