Renting an apartment for the first time can be an incredibly fun and exciting chapter in anyone’s life, but it can also turn out to be quite an overwhelming process.
Photo by Jeremy Bezanger on Unsplash
From different types of apartments and amenities to consider to complicated and confusing documents you’ve likely never come across before, renting an apartment can be a stressful task for many first-timers. So, to help make this process a bit easier to handle, here are some of the most important things you need to know before renting your first apartment:
Apartment aspects to consider
Apartments can come in various different shapes and sizes, which is why focusing on your main needs and preferences is incredibly important. Start by thinking about the size of the apartment and the available space you need, as well as the monthly rent price you can reasonably afford.
Then, move on to other aspects such as the neighborhoods where you’d like to live, as well as any amenities like laundry rooms and covered parking you’d like to have, in an effort to find the perfect apartment. If you’re looking for a rental in a more competitive market such as New York, keep in mind that you might have to compromise on some preferred aspects in an effort to find a good apartment within your budget.
Where to look for a rental
From real estate agents to local newspapers, there are a number of different resources you could utilize in an effort to find the ideal apartment. However, rental websites seem to be the most popular option, possibly due to their ease of use and the ability to effortlessly narrow down your searches.
For instance, if you want to live in Texas and are looking for exceptional apartments for rent in Brownsville, a great rental website can easily allow you to find exactly what you’re searching for. Apart from effortlessly pinpointing a suitable location, such an efficient website will also give you the opportunity to compare different prices, floor plans, as well as special amenities such as pools and fitness centers, thus allowing you to make the best possible choice.
Negotiating the rent
While most renters tend to accept the initial price, there may be room for negotiation with many apartments, such as in areas with surplus rental units or too high rental prices compared to the neighborhood. If you find a property that’s been vacant for a while, the landlord’s urgency to rent the space out could also give you an opportunity to ask for a lower amount.
Similarly, you could also ask for lowered rent in return for an extended lease, or even offer to make any necessary repairs yourself in hopes of a better deal. Regardless of the situation, attempting to negotiate might allow you to land that perfect apartment.
Understanding the lease
If this is your first time reviewing legal documents, interpreting a lease can be a difficult task. However, it’s also an essential skill to master, as the lease can hide any additional costs, outline your responsibilities as a tenant, and define legal costs and responsibilities in case of a lawsuit.
To that end, it might be a good idea to get familiar with some of the most common rental terms and policies, and carefully read the fine print in order to recognize your roles and responsibilities. In case you don’t understand something, don’t be afraid to ask for clarification, and if you don’t agree with certain terms, discussing those aspects with a landlord might lead to a better compromise.
Unplanned rental expenses
Unfortunately, rent likely won’t be the only financial concern when moving into a new apartment. There are a number of upfront costs you might not expect as well, such as security deposits, application fees, the first and last month’s rent, and pet deposits if necessary.
After completing the move, this list will also include long-term expenses such as monthly bills and maintenance costs, although they might be included in the rent price in many instances. In either case, being prepared in advance and constructing a large enough budget will allow you to find a suitable apartment more easily and comfortably prepare for your final move.
Evidently, there are a number of different aspects to consider before renting an apartment, from necessary amenities to unplanned expenses. When deciding on the ideal apartment, the best advice would be to see what you can reasonably afford, and then slowly and carefully go through the entire rental process.