How to Rent in Retirement

You've worked hard and saved up. Now, it's time for retirement. If you're looking for a change of scenery, it's smart to rent before you buy, especially if you're moving to a new area. The rental process is easier, and you'll be better prepared, if you know what to expect when you rent.

Instructions

Difficulty: Easy

1. Collect your personal information. Any landlord will need to verify that you will be a good renter. Before you even start looking for a place to live, put all necessary information in one place so it's convenient for you to find. You'll need current and past rental information, current and past employer information and a copy of your credit report. Landlords have special guidelines for people who are retired. But you'll still have to prove that you have the money to pay for your rental.
2. Determine where you want to live. Whether it's a new town or just a new neighborhood, try and narrow it down. Once you have a general idea of where you want to be, you can determine about how much it will cost to rent in that location.
3. Sell your house. You probably don't need your home plus another place to live. You can sell your house and invest your profit. That money could give you something to live on for quite a while.
4. Find rental properties. These are listed in the local paper and apartment magazines. You might even consider hiring a company to help you find a rental. Some of these companies are free for the tenant to use and others might charge you a small fee.
5. Look at the rental properties you're interested in. Even though some properties may be available to view online, it's still essential you look it over yourself. Inspect the property for any damage and determine if this is really where you want to live. This is also a good chance to see any amenities that are included with your rental.
6. Finalize the details with the landlord. You'll need to fill out an application and submit a security deposit. And at this time, you should negotiate your wants with the landlord. If anything needs to be fixed, or if you need a special lease, the two of you can work it out. Then you can enjoy your new rental while you're enjoying your retirement.