7 Things to Find Out Before Renting an Apartment

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Renting an Apartment
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Before you go to check out your prospective new apartment for rent or before you sign any documents, it’s important to be well-informed about the place. Besides basic information like size, location and number of rooms, you also need to check a few other things that can make the renting process easier and your life in your new apartment more pleasant. Here are the things to keep in mind before renting an apartment: 

Rent costs

Naturally, the first thing to find out about an apartment is the rent price so you can save up for the upcoming costs usually required upfront. Even before you get the keys to your new place, you’ll most likely need to set aside money for application fees, security deposit, pet deposit and first and last month’s rent. Unless you don’t have a few months’ rent in the bank to pay off all the costs of your new apartment, you should keep looking for something more affordable. 

Long-term costs

Rent is not the only obligation you need to consider. Long-term costs of renting include utilities like electricity, gas, internet, cable, phone, water, sewer, trash removal, etc. as well as regularly-purchased items. That usually comes down to an additional few hundreds of dollars a month, so start budgeting now. 

Lease terms

Your lease term is a legal document so make sure to study it well and do your homework on lease interpretation. Before you sign anything, it’s crucial that you understand every single point in the lease from regulations of behaviors to late rent policies. If you don’t agree with something mentioned in the contract, ask the property manager to make it clear or change the terms (this works many times, as long as you’re reasonable). 

Amenities

Some people need an in-unit washer and dryer for laundry, some need an elevator and other easy-access amenities for disabled people, and some need an on-site gym to keep up with their workouts. We all have things we can’t live without in our apartments. What are yours? Luckily, many modern apartments, especially in up-and-coming cities of Texas, come with all necessary amenities. For instance, if you’re looking for apartments for rent in Midland in Texas, it’s not unusual to see apartment complexes that come with pool access, fitness centers and patio space. Smaller cities are usually more affordable and much more pleasant and luxurious for living, so you won’t have to worry about amenities. In bigger cities like NYC or LA, check thoroughly what the listing offers. 

Renting Apartment
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Roommate or pets

Are you planning to live alone, with your partner or with a roommate? If you’re having a roommate, make sure to check whether it’s allowed to introduce a second person to the mix. After you sign a lease, don’t hesitate to create a roommate agreement which will be there to protect every party concerning bills, cleaning, noise, etc. Also, some apartments don’t allow pets, so make sure to check whether your furry friend can join you in your new place before you start packing. If the landlord or apartment complex allows pets, you usually need to pay a pet fee, so find out about it and include it in your budgeting plan. 

Insurance

Renter’s insurance is another monthly bill you might be required to add to your collection, but for all the right reasons. This type of insurance can leave you financially afloat in case there’s a fire in the building, a natural disaster in the area or if you get burglarized. If you need to pay for the landlord’s insurance policy, don’t think that this fee covers your personal property as well. And if you own a lot of things, could you be able to replace all of them without any help in case they get destroyed or stolen? With renter’s insurance (which comes with a fee of just about $10) you can sleep soundly knowing your things are safe. 

Documentation 

During the application process, the property manager will require certain paperwork, so make sure to have things ready to speed up the review process. Provide the manager with proof of identity, employment, financial stability, pay stubs, bank statements and even a short bio—all of these might help the property manager choose you over other potential renters.  

As you can see, renting an apartment is not a very easy process, but it’s crucial to consider all of these steps before you sign any leases. This habit will ensure you get the right apartment for your needs that will serve you for many years to come.