Now that you’ve found the apartment of your convenience, we have to go and see it for ourselves. First, figure out what is important to you.
1. Can you live in a studio? I cannot. I need a separate living space from the bedroom.
2. Are you noise sensitive? What kind of noise? If you are living on the main road, and you cannot go to sleep with loud noise, avoid main roads.
If you’re on a side street, and one-way road, the noise level will be significantly reduced.
3. Do they allow short term rentals like airbnb?
Expect to see people going in and out, dragging their suitcases. It will be a bit more disarray because people living there long-term takes care of their space.
Expect to hear loud noises and parties on weekends.
4. Do you need parking? Can you live with street parking?
5. Do you need a bathtub?
6. How about the unit within the apartment itself? Higher floors are safer and more shielded from the noises. Is it an end unit? Is it near the staircase and elevators?
7. Go visit the place during high traffic hours and assess the flow of people in and out.
8. Ask what types of people live here? What kind of cars are parked? What kind of clothes are on the lines?
9. Turn on all the taps and see if water comes out and drains. Open everything and see that they work. Open the windows and doors. You’d be surprised to see how many things don’t work. Assess their reaction.
10. Who are you speaking to? Are they agents or owners? How involved are the owners? How do they manage repairs and maintenance?
11. Get a copy of the Body Corporate Rules – Very important – Confirm the short term/long term rentals and how well they manage the place.
12. What is the lease period and annual escalations?
13. Can you sublet and get a roommate? As long as you stay within the maximum # of occupants.
*If you are buying, get a copy of the last three years AGM minutes and financials.