Parsippany NJ has been one of the top rental localities in east coast. We have been in this area for about 10 years. One of the important things that anyone who currently lives in a rental property and who aspires to move onto different rental property within parsippany NJ would be better planning.
Have this checklist handy while determining if there is a need to relocate onto different rental property within parsippany NJ area :
1) Is there a real need to move out of current residence?
To start with the first question is going to be why am I thinking about moving out of current rental property. Possible reasons covers one or more of the following:
1.1) Change in office location within Parsippany - Parsippany is full of office spaces. Whenever I drive down Route 10 I constantly see office space for rental or sale. Office space relocation is a result of commercial sqft pricing , companies planning to cut down on rental space, companies movies to own office space instead of rental space, merger & acquisition etc
1.2) Rental monetary savings - All these days I was of opinion that all teh rent that I pay does not save me a single penny in taxes. This time surprisingly I got to know from my tax consultant that 18% of total rental paid can be shown towards NJ state tax filing. But this will not help you save money in federal tax filing . As a consequence, with little monetary benefits in place, it would be wise to cut down on retnal as this is always an expense
1.3) Locality & Neighbourhood - Your geography to a major extent determines your 3Hs - Hale, Health, Happiness. It's a proven truth that better locality leads to calm peaceful life. In my personal experience when I first moved to parsippany NJ I did some research online on apartment reviews, accessibility, landlord attitude based on reviews from prior tenants. All this made me chose an apartment that is $100 more than an average apartment. I had no regrets about my monetary decision as this $1200 extra did contribute a lot towards my mental peace of mind
1.4) School District - It is well known that across USA best school districts sell better. BAsed on my analysis parsippany NJ has some of the best A grade schools with lots of honors. If you want a school change there is a need to change address
1.5) Commute Time - If you think of moving closer to office then there comes residence change. This can be result of personal necessity, change in job role demanding more time to be spent at office, job change to NYC demanding relocation to park & ride facility. In such cases a necessity to relocate to Lake hiawatha, North Beverwyck road and such localities is very common
1.5) Life Events - One you get to know that soon you are father to be or mother to be you might prefer to stay closer to home leading to resident change. Also, if the headcount in family increases or decreases as result of birth count like birth, death etc home change becomes a possibility
1.6) Lifestyle - This can be positive involving income rise that leads to lifestyle upgrades, job loss, wife deciding to stay home that causes some reduction in total family income leading to lifestyle downgrade. Depending on that you change your home. Changing income can bring in changing lifestyle. To add more luxury you might prefer a location change
2) Rental Hunt Starts - Is this BEST time?
In normal cases people wait for lease expiration to locate their new rental home. This can be two months before lease expiration which is typical in most lease agreement. In general we dotn have to wait this long until we get the lease renewal notice from landlord. If you get a better deal today, if you think lease breakage saves you lot of money you can proceed further and make change now
3) Credit Score and Credit Card
Do you know that your credit score not only helps you lower your home mortgage rate but also help you save on rental. Choose to maintain good credit score atleast 5 to 6 months before rental hunt. Some cards like DiscoverIt, Chase, Barclays credit card etc offer credit report and FICO scores everymonth absolutely free. Track it and submit this to avoid $25 credit report fee that most agents ask for during new rental lease signing
4) Contact homeowner without delay - Check online and try to see if you can talk to homeowner directly. In this case they dont need to pay brokerage commission and will choose to offer rental deductions. Instead if you wait until the home comes up for rental they will have to pay money to realtor increasing your rental burden. So, if you are in lookout of rental post your requirement well in advance at Realestate category
5) Packers and Movers
Plan, budget, carefully pick and choose your packers and movers. Post your packer mover requirement at service section well in advance. Establish connections with individual movers in your current apartment. They are group of people who are working as handyman in current apartment complex willing to work for extra income on weekend, free-time. Choose to hire u-haul the cheapest moving option that comes as low as $30 per hour. Pack all your good properly to minimize packers and movers fee and also their burden
6) Net Savings Before Making Move
Say you currently pay $1500, new rental is $1200. You might end up saving 300*12 - $3600 - $400 [on packers and movers] - $200 [ new apartment application fees and swimming pool fees] = $3000. Determine if you need to proceed. Note that I'm talking about swimming pool fees. It might sound a joke to pay this fee inspite of you living in an apartment with no real pool. I've done that and this is common in parsippany NJ. Every dollar counts while planning and budgeting
Have this checklist handy while determining if there is a need to relocate onto different rental property within parsippany NJ area :
1) Is there a real need to move out of current residence?
To start with the first question is going to be why am I thinking about moving out of current rental property. Possible reasons covers one or more of the following:
1.1) Change in office location within Parsippany - Parsippany is full of office spaces. Whenever I drive down Route 10 I constantly see office space for rental or sale. Office space relocation is a result of commercial sqft pricing , companies planning to cut down on rental space, companies movies to own office space instead of rental space, merger & acquisition etc
1.2) Rental monetary savings - All these days I was of opinion that all teh rent that I pay does not save me a single penny in taxes. This time surprisingly I got to know from my tax consultant that 18% of total rental paid can be shown towards NJ state tax filing. But this will not help you save money in federal tax filing . As a consequence, with little monetary benefits in place, it would be wise to cut down on retnal as this is always an expense
1.3) Locality & Neighbourhood - Your geography to a major extent determines your 3Hs - Hale, Health, Happiness. It's a proven truth that better locality leads to calm peaceful life. In my personal experience when I first moved to parsippany NJ I did some research online on apartment reviews, accessibility, landlord attitude based on reviews from prior tenants. All this made me chose an apartment that is $100 more than an average apartment. I had no regrets about my monetary decision as this $1200 extra did contribute a lot towards my mental peace of mind
1.4) School District - It is well known that across USA best school districts sell better. BAsed on my analysis parsippany NJ has some of the best A grade schools with lots of honors. If you want a school change there is a need to change address
1.5) Commute Time - If you think of moving closer to office then there comes residence change. This can be result of personal necessity, change in job role demanding more time to be spent at office, job change to NYC demanding relocation to park & ride facility. In such cases a necessity to relocate to Lake hiawatha, North Beverwyck road and such localities is very common
1.5) Life Events - One you get to know that soon you are father to be or mother to be you might prefer to stay closer to home leading to resident change. Also, if the headcount in family increases or decreases as result of birth count like birth, death etc home change becomes a possibility
1.6) Lifestyle - This can be positive involving income rise that leads to lifestyle upgrades, job loss, wife deciding to stay home that causes some reduction in total family income leading to lifestyle downgrade. Depending on that you change your home. Changing income can bring in changing lifestyle. To add more luxury you might prefer a location change
2) Rental Hunt Starts - Is this BEST time?
In normal cases people wait for lease expiration to locate their new rental home. This can be two months before lease expiration which is typical in most lease agreement. In general we dotn have to wait this long until we get the lease renewal notice from landlord. If you get a better deal today, if you think lease breakage saves you lot of money you can proceed further and make change now
3) Credit Score and Credit Card
Do you know that your credit score not only helps you lower your home mortgage rate but also help you save on rental. Choose to maintain good credit score atleast 5 to 6 months before rental hunt. Some cards like DiscoverIt, Chase, Barclays credit card etc offer credit report and FICO scores everymonth absolutely free. Track it and submit this to avoid $25 credit report fee that most agents ask for during new rental lease signing
4) Contact homeowner without delay - Check online and try to see if you can talk to homeowner directly. In this case they dont need to pay brokerage commission and will choose to offer rental deductions. Instead if you wait until the home comes up for rental they will have to pay money to realtor increasing your rental burden. So, if you are in lookout of rental post your requirement well in advance at Realestate category
5) Packers and Movers
Plan, budget, carefully pick and choose your packers and movers. Post your packer mover requirement at service section well in advance. Establish connections with individual movers in your current apartment. They are group of people who are working as handyman in current apartment complex willing to work for extra income on weekend, free-time. Choose to hire u-haul the cheapest moving option that comes as low as $30 per hour. Pack all your good properly to minimize packers and movers fee and also their burden
6) Net Savings Before Making Move
Say you currently pay $1500, new rental is $1200. You might end up saving 300*12 - $3600 - $400 [on packers and movers] - $200 [ new apartment application fees and swimming pool fees] = $3000. Determine if you need to proceed. Note that I'm talking about swimming pool fees. It might sound a joke to pay this fee inspite of you living in an apartment with no real pool. I've done that and this is common in parsippany NJ. Every dollar counts while planning and budgeting
