Need To Rent An Apartment? 4 Things To Be Aware Of

Real Estate Blog

If you need to rent a place to live, there are some things you need to think and prepare for before you find an apartment to rent.

Thing #1: Be Aware of Upfront Costs

When you look at apartments to rent, you need to look beyond what your monthly rent payment is going to be. You need to find out what type of security deposit is required for the rental, and if you will be expected to pay the first and last month's rent on top of the security deposit before moving in.

You also need to find out if you will need to pay any deposits to set-up the utilities. If you have a pet, you may also have to pay a pet deposit.

You are going to need to have a nice amount of money saved up in order to pay all those expenses and move into a new apartment.

Thing #2: Be Aware of All Your Monthly Financial Obligations

When you are looking at apartments, you need to be clear about what is and is not included in rent. Some apartment complexes may include things such as water, sewer, and trash as part of the monthly rental fee that you pay. Some of your utilities may be included or bundled together with your rent payment, and you may have to pay additional utilities separately, depending on the set-up of the building.

Make sure you are clear about what all your financial obligations will be before you sign a lease.

Thing #3: Always Check on Amenities

When you are looking at apartments to rent, you need to always check and see what amenities are included with the rent. Don't assume that anything comes with the rent. Find out if you get a parking spot or if you get access to a storage facility. Find out if you get access to a work-out area, laundry area, or any other community spaces. Make sure all amenities that you are promised access to are included in writing on your rental agreement.

Thing #4: Carefully Check the Lease

Finally, ask for the lease agreement and take it home to read it over. You shouldn't be pressured to sign the lease agreement on the spot. A lease agreement is a legal document, so you want to make sure you understand all the terms of the agreement. The lease agreement will spell out your rights and responsibilities. Carefully check any restrictions around behavior and be sure you are clear on when your rent is due, how you can pay, and what the policy is for late rent and evictions.

When it comes to looking for apartments to rent, make sure you are prepared for all the upfront costs of renting an apartment and find out what your monthly financial responsibilities will be for the apartment. Always find out what amenities are included, and carefully check the lease agreement and make sure everything you were told about the apartment is represented in writing in the lease agreement.

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29 September 2020

Sarah's Renting Tips

Although I've never worked professionally in the real estate business, I sure know my way around it. How, do you ask? Well, I have simply rented a lot of different places and worked with a lot of different landlords and real estate agents. In the past 7 years I've lived in 11 different houses or apartments, none of them my own. In finding those 11, I have looked at literally hundreds of apartments. I used to hate house hunting, but now it's kind of fun. You just need to know what you want and the right questions to ask. Hopefully this blog can help you learn some of the tricks of the trade from another renter like yourself.