Renting your first apartment can be stressful. Maybe you’re moving out of Mom and Dad’s for the first time, or maybe it’s your first real home after living in the college dorms. Whatever your situation, we’ve tried to make the process of renting your first apartment a little less stressful. We’ve broken it up chronologically, so that you know exactly what to do at every point in your apartment hunt, and you know exactly what you’re getting into.
When you’re looking for an apartment
- Set a budget: Conventionally, it’s said that your apartment/rental budget should be within 30 percent of your income, but if you live in an area where there is a lot of competition for housing, you might have to extend past this a bit. The best thing to do is set your budget first, so you’re not tempted by options that are way outside of it. Make sure you consider both short term, and long term budgets as well, because after your initial upfront fees, you’ll still be paying every month for your apartment.
- Consider the neighborhood: Even before you contact the landlord, it’s a good idea to check out the neighborhood. Is it safe? Is it accessible? Will it be easy for you to get to work and class? If you don’t have a car, are there sidewalks for you to walk on? These minor details make a big difference in the long run.
- Think about little things: Aspects of the apartment that might seem miniscule now will be very important later on. You should find out if the apartment has free parking, or if you have to park on the street, and you should see if the apartment is furnished or unfurnished. If you end up having to pay for furniture, and a parking pass, or parking in general, that’s going to add a hefty amount to your budget that you may not have previously considered.
- Utilities: Most apartments list what utilities tenants are required to pay directly online. Make sure you look at this. While most require you pay gas and electric, some also require you pay the water bill. Which utilities you have to pay, and what their average cost is in the area will also have an effect on your long-term budget.
When you visit the apartment complex
- Ask about the security deposit: Most apartments require that you pay a security deposit of some sort when you sign. Sometimes it’s equal to a month’s rent, sometimes it’s a little bit less, or a little bit more. It’s a good idea to ask about it before you sign, so you know what you’ll have to shell out before you even move in.
- Ask if rent is stabilized: In many areas, it’s likely that rent will increase as the years go on. Some apartment complexes have stabilized rent, which means you pay the same amount for your apartment, every month, until you move out. If you’re looking to stay for longer than one lease period, you’ll want to ask about this so you can get an idea of how much the rent is likely to increase over the years.
- Ask about the neighbors: This one might sound a little strange, but it really is important that you know what you’re getting into. No one wants to end up with loud upstairs neighbors, a neurotic dog a few doors down, or the garage band that never quits. It’s actually not that out of the ordinary to ask your landlord about them, and if you don’t do that, you may as well just introduce yourself to them, to get off on the right foot.
- Walk through your apartment: While many complexes have a “showing” apartment, one that is all furnished, vacuumed, and nicely painted, you’ll want to make sure you get into your specific apartment before you hand in your security deposit. If it’s a unclean, or needs work, you might just think about moving on to the next option.
- Remember that housing is competitive: It’s good to remember that your landlord isn’t the only one that needs to have it together. The housing market can be very competitive in some areas, and if you want to get that perfect apartment, make sure you’re the best candidate. The landlord doesn’t have to give you the apartment, if he or she feels there’s a better candidate. So, make sure you have all of your papers together, your security deposit is on time, and you present yourself well. These small things will go a long way in ensuring that you have the first pick of apartments.
When you’ve decided to sign
- Have the money: Make sure you have enough money to cover the security deposit, and any other fees that go along with the signing. Many apartment complexes require that you pay both the first and last month’s rent up front, so be prepared.
- Know the terms of the lease: It’s a long document, and you may be tempted to just sign on the dotted line, but you really do need to know what it says. Keep a copy of the lease in your apartment, and make sure you know exactly what you’re responsible for, and what your landlord is responsible for. You don’t want the dishwasher to break, only to find out that you’re the one responsible for repairs.
Moving in
- Get help with moving: Moving is a big job, no matter how you slice it. If you have friends that live nearby, you can always ask them to help you, and reward them with pizza. If your friends have to work, or you’re moving out of town, consider hiring movers. You’re likely to have a lot of stuff, and most people can’t move an entire couch by themselves.
- Inspect your apartment immediately: As soon as you move in, check for any damages, or things that seem to be out of place, and notify your landlord about the issues immediately. This helps you in two ways. First of all, you won’t be blamed for the damages, since they existed before you moved in. Secondly, you’ll get them fixed quickly that way.
- Pets: If you have a pet, you may want to consider boarding them, or having them stay with a friend while you move in. It will be difficult to work around them during the move, especially because they’re likely to be in an excited mood. If you can get someone to take them until you’re settled in, the move will be easier on both you and your pet.
First time renting an apartment? Have you heard of renter’s insurance? If not, give the experienced agents at Doyle & Ogden a call. We’ll find you the best coverage for a better price. Call us at (616) 949-9000 or request a free quote online today!