The time has finally come, and you’re ready to settle into your very own apartment. Like most things in life, being well prepared will make this process run smoothly and successfully. At LAA, we understand that renting may seem like a daunting task, luckily, we’re here to help navigate you through the process. Keep reading as we take you through everything you need to know about renting your first apartment.
Figure Out Your Budget
When renting an apartment on your own for the first time, you must start by figuring out how much rent you can afford. Keep in mind that there are both long-term and short-term costs involved. Long-term costs include rent and utility bills, whereas short-term typically include an application fee, security deposit, and utility deposit. When budgeting, it’s also important to consider other expenses such as groceries, car payments, gas, or any other monthly payments.
Setting Priorities For Your Apartment
Once you’ve found a reasonable budget for yourself, the search can begin. Start by making a list of priorities that you need. Is it important to have a large kitchen, walk-in closet, or wood floors? And what about amenities? Would you enjoy having an on-site gym, a business center, or a pool? Don’t forget to consider the location; would you prefer living closer to work, home, or in the middle? Setting a budget first and a list of priorities second will ensure that you get the best apartment possible with a rental price that won’t break the bank.
Apartment tours are a very exciting and necessary step of the apartment hunt. Once you’ve narrowed it down to your top choices, you can begin calling the apartment offices and scheduling an appointment to tour. There are a number of important questions that you can only get answers for during a tour. Be sure to check out our blog, What to Look For and What Questions to Ask When Touring an Apartment, to ensure that you’re asking all the right questions!
Get Your Paperwork Together
Most property managers or landlords typically require you to provide information along with a rental application before you can be considered a potential tenant. This information may include your credit score, proof of income, rental history, previous landlords, personal references, and possibly your social security number. So, once you’ve finally found the perfect apartment for you, be sure to have all your paperwork ready and in place so that there are no delays in the process.
At LAA, we understand that renting your first apartment is a great accomplishment. And while the process may seem a bit intimidating, we hope that this guide will help make your first-time renter experience run as smoothly as possible. For more information on apartment related topics, feel free to check out our website.