Every day, someone moves into their first apartment. According to Trend Statistics, an average of two people in the U.S. move into an apartment every minute. Every 80 seconds, a new apartment is rented out! Moving into apartments is a major milestone, but you should remember these tips if you’re a first-time renter.
Create a Budget
Before you rent, you should consider what you can afford to pay monthly. In addition to your rent, a budget should include utilities, food, car payments, and other expenses. You’ll also need to set aside money for your security deposit. Ideally, around 30% of your gross income should go towards rent.
Find the Right Place to Rent
Once you’ve decided on a budget, you should search for a rental unit that meets all your needs. You should consider the apartment’s location, amenities, and other important factors. Schedule tours for apartments you’re interested in so you can see the units in person.
During the tour, you should inspect the apartment closely. Check the ceilings, walls, and floors for signs of water damage. Open and close all the windows and doors to confirm they work. Ensure that this apartment is a place you’d be comfortable living in.
Look Over the Lease
Signing the lease for an apartment you love is exciting, but you must read the lease before you sign. You should review the lease restrictions to confirm you’re comfortable with them. Check when the rent is due and ensure the rental amount is what you expect. If you have any concerns with the lease, bring them up with your landlord.
Get Renter’s Insurance
Renter’s insurance is required by many landlords, but getting insurance is worthwhile even if it’s not mandatory. An insurance policy can cover the cost of replacing your belongings if they’re stolen or damaged. Some policies will even cover additional living expenses if you’re displaced from your apartment.
Check Your Apartment for Damage Before You Move In
When your move-in date arrives, do a walkthrough of the unit before you move your things in. Look for any visible damage, like cracked tiles or wall marks. Document this damage and report it to your landlord. That way, you can ensure you won’t be liable for the damage when you move out.
Don’t overlook these things when renting apartments. Planning can help you avoid issues when you rent. Your first rental experience should be positive if you follow this advice.