How to navigate a foreign property market
Finding accommodation can be hard enough in one’s local area, let alone in a whole new country. On top of worries over hidden defects, unreliable landlords and a lack of choice in popular locales, prospective tenants also have to deal with unfamiliar processes and a possible language barrier.
This article outlines some of the most common red flags to look out for when renting overseas, to help minimise the stress of getting settled somewhere new.
Rule out rental scams
Every country has them: rental scammers are individuals who pose as landlords to advertise a property and extract money from prospective tenants. Often, the property has nothing to do with the scammer – and sometimes, it doesn’t even exist.
By trying to confuse you with unfamiliar jargon in a language you’re not fluent in, scammers may think they have the upper hand. However, many of the signs of rental scams are material and cannot be covered up by bluffing.
One such sign is an unwillingness to do anything in person. Scammers will be keen to protect their identity, so often they will try and operate entirely online, using an untraceable account or a false identity. As a prospective tenant, be sure to insist upon meeting your landlord and viewing the property before agreeing to anything.
Scammers will often ask for an unreasonable sum of money ahead of signing a lease – this is how they profit from the setup. While an application fee is standard, however, a deposit or first month’s rent should not be paid until a lease is signed. Living away from the rental property is also not an excuse for a landlord to be unavailable for viewings or to present the lease: overseas landlords ought to have a property manager or realtor to carry out these processes.
If you suspect a property advertisement of being fraudulent, proceed no further in the application process and report the scammer to the appropriate authorities.
Be picky with your landlord
Granted, being choosy when it comes to who to rent from is a privilege that many may feel they can’t afford. However, finding a reliable landlord will pay off in the long run, where the alternative is living somewhere unsafe, unsanitary or otherwise unfit for purpose.
Again, some problems may be passed off as misunderstandings based upon cultural difference or language barriers. Minor inconveniences or flaws might reasonably come down to communication difficulties; but serious signs of neglect or evasion are inexcusable.
From the offset, be wary of landlords who are unresponsive when you try to contact them. Busy professionals or those with other commitments will still make time for you if they’re serious about renting. Secondly, take note of the property when you go for a viewing: if there are clear signs of damage, request that they be addressed before you commit to the move. Property maintenance should be a priority for any landlord keen to preserve their reputation.
Research the area
One of the downsides of moving to a new location in a foreign country is a lack of familiarity with different neighbourhoods and their demographics. Typically, all towns and cities have districts with different characteristics, based on factors such as commute times, proximity to schools and green spaces, cultural affiliations and general affordability.
Before moving, you should have a good idea of your priorities in terms of the kind of place you want to live in. If noise or light pollution is an issue, you might want to opt for somewhere in the suburbs; if you’re dependent upon public transport to get around, maybe you’ll want to be closer to the city centre. Don’t be fooled, however, into thinking that a particular neighbourhood must be right for you just because it meets some of your criteria.
In finding the right place to live, there must always be compromises – but some compromises just aren’t worth making. For example, finding somewhere affordable might be a priority, but if one area seems significantly cheaper than other neighbourhoods there’s likely to be good reason for it. Before settling on accommodation, check crime statistics for the locality as well as transport routes and typical property features. Certain architectural styles might be poorly insulated or prone to pests, while others might be near a noisy flight path.
Green flags and precautions
It goes without saying that just as there are clues for how to spot a dodgy rental property, there are also signs that can help to identify legitimate properties and responsible landlords.
For starters, a genuine landlord ought to be organised and knowledgeable about their property. They should be able to tell you about the building’s quirks and its character; when to expect routine checks, and how to avoid inconveniences such as damp and pests. Occasionally, the landlord themself won’t be in charge of the property but will have passed its management on to a trusted third party such as an estate agent or realtor. If this is the case, the same applies to the agency – they should be knowledgeable, professional, and able to help promptly with any queries or problems.
A responsible landlord or estate agent should also be able to tell you why the previous renter moved on. It may be the case that they didn’t give a reason for not renewing the lease – on the other hand, they may have been evicted so the landlord could hike up the price. Beware of landlords who flaunt their wealth and property portfolio; instead, look out for those who appear genuine and attentive.
To avoid undue stress and minimise the legwork, you may also consider using a service such as Expat Rentals: a global real estate firm specially designed for those moving abroad. Otherwise, acquiring renters’ insurance may afford peace of mind should you fear theft or property damage – a possibility for families with pets or young children.
