Significant Points You Should Not Overlook Before Taking A New House For Rent In Addis Ababa
The rental market for the residential property segment in Addis Ababa is still as hot as ever although its rival cities are also growing in popularity and are attracting the kind of people who have never imagined themselves living outside of Addis before. Leasing a home in Addis Ababa is not always as simple as most people think. Whether it’s your first rental experience or your tenth, finding the perfect house for rent in Addis Ababa that fits your budget and lifestyle can be an easy task only with the help of a reliable realtor in Addis Ababa. If you cannot afford to hire a good leasing agent in Addis Ababa, you should at least do your own homework before you lease a house in Addis Ababa, Ethiopia. The objective of writing this short article is to provide people like you with a few helpful tips, which can make their house hunting experience a little easier.
It is absolutely necessary that you carry out a physical inspection before renting a house in Addis Ababa. It will help you avoid confusion or litigation regarding the furniture, fixtures & appliances, plumbing, electrical & sanitary fittings. You should visit the house with the owner or the property manager to see that everything is in working condition and won’t need any repair any time soon. The physical inspection helps to avoid any confusion between the two parties.
Annual and monthly maintenance cost is often the hidden but crucial factor that needs to be discussed before you get to the agreement signing stage. Otherwise, it will be the cause of disputes between you and the owner(s). Regular maintenance of things like water taps, electricity switchboards & wiring, heavy works like interior or outdoor damage repair, and painting can turn into a debate. Hence, these must be clearly discussed before you rent a house in Addis Ababa.
You should also find out what the communal facilities you will get access to for free or with entrance fee are. When you lease a house in Addis Ababa, you should insist that the landlord needs to inform you about all types of paid and unpaid services you can enjoy as a tenant. The costs of extra parking venue, club charges, swimming pool, door-to-door service charges, etc., could add up quickly and make your overall expense significantly higher than initially expected. Hence, discussing these things in the initial stage is a very wise thing to do. Some people wrongly assume that every facility they see on the premise of the accommodation being offered for lease in Addis Ababa is available for tenants free of charge, only to get disappointed later. To avoid making such fatal mistakes, always ask what’s included in the rent and what is not.
The Lock-in period and percentage of rental increment per year or after the contract’s expiry should clearly be mentioned in the tenancy agreement. Mentioning the minimum lock-in period clearly (the minimum stay duration, such as six months, one year or three years), makes you remain safe and ready to renew or arrange new accommodation. Typically, this lock-in period is one year. Also, the notice period for vacating the home, adjusting advance security, clearing the electricity bill, and moving out the cleaning portion should be discussed clearly.
If you have given up on the possibility of finding your perfect house for rent in Addis Ababa directly from a home owner and have decided to seek professional help, a brokerage commission amount should be discussed at the beginning as it can vary from city to city and country to country. It is always sensible to go through a legally registered broker to avoid any harassment later. The brokerage fee usually depends on the length of the lease period and the manner of payment. If you rent a house in Addis Ababa through a broker, expect to pay 8.5-10% of the advance payment as commission.
Take special care not to fall prey to dishonest street brokers and scam artists, who can potentially get you into legal troubles or cheat you out of your hard-earned money. Before taking on a house for lease in Addis Ababa, you should always request to see the originals of the title deed, last paid electricity and water bills, and the like to ensure that the transaction is not fraudulent. Also, try to learn as much as possible about the relationship the realtor has with the owner. Requesting for past tenants’ addresses and contacting them directly is also one of the best things you can do to learn about the house you are considering to rent or about the behavior of the landlord.
Once you have found a good house for rent in Addis Ababa, be informed that there are certain inclusions that must form parts of your rental agreement to avoid any misunderstandings later on. Some of them are listed below.
- Include a clause on the beginning and end date of the tenancy
- Agree on the rent amount payable and its payment frequency (monthly/quarterly/semi-annually)
- Agree on the security deposit amount paid and its refund procedure
- Agree on who is responsible to cover regular service/maintenance charges
- Agree on who takes responsibility for the payment of repair and maintenance
- Include a clause on conditions of termination of Agreement
- Agree on a favourable notice period for vacating the house if there may be a need
- Having a clause on warranties by landlord for the provisions of electricity, water and power facilities continuously is also critical
Are you searching for a house for rent in Addis Ababa but not getting so lucky? Then, check https://www.ethiopianproperties.com/ today! It is your reliable source for connecting you with good homeowners or professional realtors. The brokers, who list properties on the portal, are very capable and will do everything within their power to ensure that you get a litigation-free home for rent at the best price in Bole or anywhere in Addis Ababa!