Are you ready to take the plunge and rent your first apartment? Whether you're a recent college grad, a young professional, or a family looking for a new home, it's a momentous decision that can be both exciting and overwhelming. But don't worry - with some knowledge and preparation, you can make renting your first apartment go smoothly and successfully.
What are the upfront costs?
When calculating your budget, be sure to account for all the upfront costs of renting an apartment. Be sure to account for new, necessary furniture and appliances like a refrigerator, oven, and washer and dryer. You should also factor in the security deposit cost, typically equal to one month's rent. And, of course, you'll also have to pay your monthly rent, which you can expect to be about 30% of your income. And finally, you'll have to account for utility costs. Electricity, gas, and water are usually split evenly between you and your landlord. So, when calculating your total monthly expenses, make sure to include these expenses.
What does your rent include?
Before you sign a lease, it's essential to understand what your monthly rent covers. Does your rent include utilities such as gas, electricity, and water, or do you need to cover these yourself? Are there any perks included, like the use of communal gardens or pools, and will you be expected to pay additional costs for any cleaning or maintenance of communal areas? You need to know everything you can expect to pay for before you agree to move in.
How big do you need your apartment to be?
Before you start looking for apartments, you should list the features you're looking for in an apartment. And one of the most essential features you need to decide on is how big your apartment should be. There are no hard and fast rules for how many square feet you need for your apartment. However, if you're single, you'll be comfortable with a studio or a 1 Bedroom Apartment. If you're a couple or moving with a family, you should probably look for a two-bedroom apartment as a minimum. You should also remember that children grow up fast, and you might want to consider having a few extra feet of space for playrooms and toys.
What are the community rules in your apartment building?
Before you sign a lease, you should ask your landlord about the rules of your particular building. Are pets allowed? Are there any specific rules about noise? Some communities may have specific regulations about garage parking, home-based businesses, or other issues. Before you decide to rent an apartment, you must understand the rules of your building. This will help you avoid disputes with your neighbors and landlord later.
What are the terms of the lease?
Before you sign a lease, you should ask your landlord to explain the terms of your lease in detail. You should understand the length of your lease, whether or not you'll be required to pay a deposit at the beginning of your lease, and what you'll be responsible for at the end of your lease, such as repainting the apartment or cleaning the carpets. You should also ask your landlord whether there are any special clauses in the lease. Does your lease require you to keep quiet after a specific time? Will you have to give notice if you decide to vacate the premises before your lease expires? Mostly you need to make sure the terms of the lease match what you have been told and that you aren't being deceived to get someone in the property.
Summary
Renting an apartment comes with a different rulebook than a single dwelling, so making sure you know the complexities of apartment living before signing a lease is vital. These tips can help you get started on your search.
