At some point in life, almost everyone needs to take the plunge and rent their first apartment. I know firsthand how intimidating the process can feel. There are so many new terms, like renter’s insurance, utilities, amenities, management, lease agreement, etc. Being a first time renter can be scary, but I’m here to make it a little less so.
This post is all about navigating the world of apartment hunting as a first time renter.
I’ve gathered the most helpful tips I could find on how to rent an apartment, what to look for, and what to ask. With this guide, you should be able to find your perfect apartment without being intimidated by the process. Let’s get into it!
This post contains affiliate links, which means I’ll receive a commission if you purchase through my link, at no extra cost to you. Full disclosure here.
Navigating Apartment Hunting as a First Time Renter
As a first time renter, how do you know how much rent you can afford?
One of the first questions you should ask yourself as you go into apartment hunting is: How much can I afford?
One of the rule-of-thumb suggestions I had always heard was that your housing should cost roughly a third of your monthly income. This is a good starting point, but remember, cheaper is better!
You should never spend more than a third of your income on housing, but you should strive to pay less. Here are some tips for making that happen.
Budget Wisely
Before you look at any apartments either in person or even online, take a moment to focus on your budget. Hopefully you already have a budget. If not, make one! This will help you determine how much income you have to spend on rent.
Don’t forget though, when you do start looking at apartments, that the first number you see isn’t usually the full cost. An apartment may be listed as costing $1,000, but with utilities, amenities, and management fees you could find yourself needing to pull together another couple hundred each month.
Consider Monthly Costs
I want to spend a little more time talking about the extra fees that often come with renting, because it caught me off-guard when I rented my first apartment. I thought I had found a great apartment, but ended up paying way more than my original quote.
Not all apartments are the same, so make sure you know what the extra costs are. They can include: electricity, gas, water, sewer, amenities, valet trash, pest control, and even maintenance.
Make sure these extra monthly fees are included in your budget!
Don’t Forget Move-In Fees
Finally, it’s important to know that the initial moving fees add up fast. Before you start renting an apartment, you’ll need to have some extra money on hand for move-in fees.
These often include an application fee, and administrative fee, and a deposit (which can be up to one-month’s rent).
You’ll also be dealing with the additional costs that come from moving, like paying for a moving truck, buying furniture, eating out more while you’re in transition, and possibly needing to take time off work to move.
How do you know what you need in an apartment?
One of the ways to minimize costs on an apartment is to go in knowing exactly what you want. Here are some things that can help you do that.
Needs vs. Wants
Start by making a list of everything that your dream apartment has. Pool? Two bathrooms? Top floor? Write everything down, without thinking too hard about it.
Then, split that list into two separate lists, a “wants” list and a “needs” list.
There are some things that are a deal-breaker. Since I work from home, having an office space fell into my “need” category. However, having a walk-in closet is just a “want.”
It’s important to know what you need, of course, but it’s also important to know what you want and look for as many items on that list as you can without compromising on cost.
Amenities
Most amenities fall into the category of wants, but some might be more important to you than others. Do you need a good gym? Do you love swimming? Find out which amenities matter most to you.
Some common amenities to look for are:
- gym
- pool
- grilling space
- car wash
- storage
- garage space
- parking
- pets allowed
- dog park
- walking path
- common room
- front gate
- valet trash
Living Together
This stage of determining your living needs will be different depending on whether you are moving alone or with another person.
Communication is so important when it comes to living with a roommate, even if that person is your best friend or significant other. If you are both first time renters, you’ll need to know that you are on the same page as far as your wants, needs, budget, and priorities.
Prioritize
These leads me to my next point, which is to prioritize your needs and wants. Odds are you’ll have to make some compromises for your first apartment.
That’s okay as long as you know which things are the most important to you and which things can be sacrificed.
Location Matters
The final thing to decide is location. Is the area nice? Is it close to work or school? Are there parks nearby? How close is it to stores and restaurants? What floor do you want to be on? Are you okay if your windows all face a parking lot?
Know the best time to look for an apartment
The fact is, time of year affects the cost of apartments. Try to avoid peak moving times, which are usually between May and September.
If you can avoid moving at the same time as college students are moving in and out, you’ll have an easier time finding an affordable apartment.
Take a walking tour of the apartment
It’s essential that you see your apartment in person before signing a lease!
Ask Questions
While you are touring the apartment, you can ask all the questions you’ve been thinking about up till now. Ask about specific costs, maintenance offerings, trash, amenities, and other details about the contract. There are no wrong questions and it’s definitely a good idea to ask all the questions you can think of!
Take Notes
As you’re asking questions, bring a notebook or pull out the notes app in your phone to jot down the answers.
Also take note of which aspects you love, or don’t love, about the apartment, community, and even your interactions with the management or other residents.
Take Pictures
You should also take pictures while you are touring apartments. You may be sure that you’ll remember all the details of your apartment, but trust me, after visiting even just three different apartments, they all start to blend together.
Taking plenty of pictures at each community will help you make an informed decision later when you need to pick one.
Meet Current Residents
If you can strike up a conversation with someone who already lives in the apartment complex, you’ll be able to get an idea of what living there is actually like.
If you don’t want to do that or don’t find someone to talk to, you can get a sense of this by reading the reviews.
(Important note though, people are more likely to leave a review if they had a bad experience, so know that reviews tend to lean toward the negative and aren’t usually an accurate representation of the apartment, but they do give you an idea of the common problem areas.)
Learn to Identify a Scam
Unfortunately, scams do exist. One of the best ways to avoid a scam is to see the apartment in person and meet the management or landlord before giving anyone any money.
Know what the application process involves for a first time renter
Be prepared for a lengthy application process. You usually need to fill out a few different forms, pay the application fee (often via a money order), and follow any specific steps the apartment has.
You’ll probably need to wait as they check your credit score and background before they give you an exact amount you’ll have to pay. Be prepared to make a couple of trips to the new apartment and spend a significant amount of money.
What credit score do you need to rent an apartment?
The exact credit score you need might depend on the apartment and the area, but in general you need a credit score that is about 620 or higher in order to rent. Apartment List suggests an even higher number: 650.
Learn your rights as a tenant
Here are a few things you might not know as a first time renter:
- The lease reigns supreme. Read the lease before you sign it!
- Find out if your landlord allows subletting.
- Understand the landlord’s ideal lease duration.
- Find out if you can renew the lease after the contract is up or rent on a month-to-month basis.
How do you get approved as a first time renter?
- Show your income is stable. If you already have paychecks, you can usually show the past three paychecks. Often an offer letter will also work if you haven’t started working yet.
- Take paperwork to your meeting with a potential landlord. It’s better to over-prepare than realize you need to make a second trip.
- Have a guarantor co-sign the lease. If you don’t fit the criteria on your own, you can have someone co-sign for your first apartment.
- Pay in advance. Ultimately, landlords want money, and they want you to prove that you will be able to pay your rent, even though you are a first time renter. One way to show this is by paying in advance.
What needs to happen after you get your first apartment?
So, you’ve chosen an apartment and signed a lease? Now what?
Document
Before you move into your new apartment, take pictures. Look around for any potential damages, like scratches on the walls, ripped carpet, or broken blinds.
Document these damaged areas so that when you move out you won’t be charged for anything you didn’t do.
Get Renter’s Insurance
A lot of apartments nowadays require you to get renter’s insurance. Even if your apartment doesn’t, get it yourself!
Renter’s insurance can save you a world of trouble if anything goes wrong, and it’s usually pretty affordable.
Get to Know Your Neighbors
Another good idea when you move into your new place is to get to know your neighbors. Not only is it pleasant to know the people living around you, but it can also be helpful if anything happens.
For example, if you have a pet, you want your neighbors to know so that if there’s an emergency while you’re out, someone can make sure the animal is safe. They can also just help watch your house or get your packages when you’re out of town.
Final Thoughts
Being a first time renter can be really tough, but with these tips it can feel less intimidating. Remember, your first apartment is going to be your home, so it’s also a really exciting process! If you pay attention to the things mentioned in this article, the process should be way more fun than it is scary.
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