The upcoming content is brought to you by Marissa of Thirty Six Months, a platform where she shares insights on investing, saving money and settling student loans.
With the current job market scenario, freelancing is emerging as a promising career choice. Indeed, the appeal is hard to ignore. The convenience of working from anywhere, the luxury of setting your own schedule, your own management role and coffee shop functioning are just a few of the appealing aspects. However, every coin has two sides. While being a freelancer is liberating, it brings along its share of challenges. Let’s have a closer look at the pros and cons.
The Pros include:
1. The ability to work from wherever you want with just a laptop, a concept known as “location independence”.
2. The power to select your clients.
3. Escaping the roller-coaster of office politics.
The Cons include:
1. Unstable income.
2. The responsibility of finding clients on your own.
3. The lack of social interaction resulting in solitude.
One of the more substantial barriers that a freelancer might face is when it comes to renting a place. Many landlords require consistent employment history and income statements. So, what happens when you work independently and need to find a place?
Getting tips from my father, who operates in the Commercial Real Estate market, though his residential properties are a few. The principle stays the same in both scenarios – landlords are keen on having the most reliable tenants. Exploring apartments for rent recently with friends has enriched my understanding of the procedure.
Some handy tips for freelancers seeking accommodation include:
1. Your chances are better with smaller buildings than larger ones, as they tend to have stricter rules.
2. Have six months’ worth of your bank statements ready. Ensure sensitive information like your account numbers are not visible.
3. Furnish your tax returns for the past three years.
4. Provide evidence of contracts with long-term clients.
5. Have written references from previous landlords – they can be a powerful resource.
You can find a home several ways; doing it independently or involving a Real Estate agent. If you choose the latter, ensure the agent has a clear picture of your lifestyle and work situation to represent you well.
Lastly, brace yourself for the competition, particularly in major cities like Toronto, New York and others. Always present your best version in front of potential landlords. A casual attitude, sloppy dressing, and unstable income could deter them. View yourself as the potential ideal tenant and make the landlord eager to have you. This approach opens channels for negotiation. Remember, being a freelancer does not make you less reliable in paying rent. While the landlord scrutinizes you, take the opportunity to research them too. Prioritize those who invest emotionally in their property as they’re likely to ensure timely repair and maintenance.
