Renting Property 101: Essential Checklist To Consider
By: Furo Property Bali
Tags: Bali, Renting, Property, Indonesia, Real Estate

Renting property might just be what you’d like to consider, especially when you’re out and about to experience the thrill of seizing opportunities. Speaking of opportunities, Bali is one of the destinations in Indonesia that offer not only tropical delight but also the opportunity to grow. The feel and the view in Bali are unparalleled and this is made clear by the fact that Bali is chock-full of tourist spots. Naturally, then, accommodations are just as abundant as the tourist spots themselves.

Now, with all the above being said, owning property might just be a bit too much for those that are looking to expand their work experience, or those that are only looking to get the feel of a particular location that has generated quite a lot of hype, or in other words, a tourist attraction. So then, we are going to take a deeper dive into why renting property is a very lucrative option!

BENEFITS OF RENTING PROPERTY

1. Zero Maintenance Cost

Once you landed yourself a deal with the landlord of a property that you find particularly interesting in terms of its location, you have practically signed up for free maintenance of the property as all the maintenance jobs are all the landlord’s responsibility. So, if you find yourself in a pickle with one of the features that come with the property that you rent, like, let’s take for an example, the sink doesn’t work, you can report that to the landlord and they’ll be responsible for the cost of the repair.

2. Significantly Lower Down Payment Cost

Renting property will net you a good deal when it comes to managing your budget. You will not only need to pay for the maintenance (provided you didn’t go about and break things), but you will also benefit from the fact that the down-payment cost for a rented property is significantly lower than purchasing a property. Down-payments are also varied and the variant hinges upon the landlords themselves.

The “down-payment” might also come in a form of an insurance cost that will need to be covered by the tenant. The “insurance” cost that you, as the tenant, need to pay will be used to cover basically every feature that exists within the property, such as furniture, and the likes.

So, don’t be afraid to look around and you will find just the right property with just the right down-payment required. This is most definitely one of the obstacles that you can overcome by getting yourself connected to trusted property agencies as they will be more than happy to help and guide you to find the perfect property that you can rent.

3. High Flexibility

By choosing to rent a property, you have pretty much freed yourself from the bind of committing to a particular location. With this in mind, you can also always search for cheaper alternatives when you’re out and about with practically zero worries about the possible decreasing value of the property that you have rented. The only commitment that you will only have to worry about is basically the making-sure of the fact that you’re not the one causing a commotion inside or around the vicinity of the property that you rent.

4. Eligible To Apply Indonesia Retirement Visa (For Foreigners)

Renting Property in Bali, especially in the long term contract (min. 1 year), you will be eligible to apply KITAS. Yes, one of the requirements to have for you applying Indonesia Retirement Visa is the contract of renting property in Indonesia.

In this case, if you want to live in Bali, you have to have the contact of renting property in Bali. If you succeed to get a retirement visa in Indonesia, you basically can spend most of your retirement time exploring the hidden gems in Bali. With tens of cultural festivals, beaches, mountains, and other beauties of tropical islands, you will never get bored of and always find something new to explore.

If you need a hand to help you get the retirement visa in Indonesia, we would like to recommend you read our article: Indonesia Retirement Visa.

Now, then, with all the aforementioned benefits that you can gain from renting property, there are a couple of things that you will need to keep in mind before renting. Let’s take a closer look into them.

LOCATION

Yes, as essential as it is true, the location will truly impact the experience that you will have when you decide to rent a property. Beachside, cliffside, riverside; all of these lovely places are some of the things that you will need to put in your check box. This is most especially true when it comes to renting property in Bali.

Now, when we talk about Bali, we have to talk about either Kuta or Seminyak. Why those two? Well, these places are two of the most developed areas, perfect for tourists in Bali and it is only natural for these two places to be ripe with many people looking for accommodation. So, yes, if you’re the type of person who would like to be in on the action of the attraction in Bali, these two locations might just be your preferred option.

As for other locations in Bali and their perks, you might just find our article talking about the viability in investing a property in Bali interesting.

PRICE

When it comes to renting property, prices can be a very subjective topic and this is one of the things that can be an obstacle. What this means is some people might just find the price of a particular property is a bit over their budget, and some might just find the price is just right within their budget, but the feature that they’re looking for is lacking.

So, in order to overcome this obstacle, you will need to make sure that you have created a checklist of things that you’d like for the best experience possible. You will also need to make sure that you mention the budget that you have and require. Once you’ve done so, you can then get help from the people that you trust to gain this information for you.

This is where a property agent can truly be your best bet in finding just the perfect property for you. Having the help of a trusted property agent working in a well-known and trusted property agency will ease up your search and at the end of the day, will get you even bigger connections that can prepare you for your next journey.

PROPERTY AGENT’S ASSISTANCE

A trusted property agency will have experienced property agents ready to assist you in clearing your doubts by giving you recommendations and alternatives to your search for the best possible property. As a tenant looking for the perfect place to rent, the experience is guaranteed to be no different and you will find the assistance of property agents to be very hassle-free.

Experienced property agents will also be able to give you insights regarding the legal, and the financial side of the business. With these insights, you will have a better idea of how things play out and get you hooked up to the trusted landlord and ultimately, the property you’ve been looking for.

So, are you ready to find the perfect property with just the right price for you? Give us a call and we will be more than happy to get you there!