Top 7 Things to Know Before Renting an Apartment for the First Time

More people are renting now than have been in the last 50 years, and it’s no wonder why. Renting is much cheaper than buying a home and it offers a convenient lifestyle. When you rent, you don’t have to deal with all of the home and yard upkeep that comes with a house, saving you time and even more money.

If you’re interested in renting an apartment for the first time, read on for 6 things to know before renting an apartment.

1. Location Is Huge

Location is one of the most important things to consider when choosing a place to live. Not only do you want to be safe, but you want to be close to everything you need. In general, you’ll probably want to live near stores, restaurants, and entertainment options.

If you don’t have a car, then location is even more important as you’ll want your apartment to be walking or bicycling distance from the places you frequent, or at least near a bus line.

2. Think About Apartment Size

Before you start touring apartments, you’ll also want to decide on the size of the apartment you’re looking for. In general, the more rooms a unit has the more expensive it is. They can end up being cheaper, however, if you choose to have roommates that you split the cost with.

If you do live alone, studio units are the cheapest, but only work if you’re okay with having very little space. One-bedroom units are standard, but you may want an extra room if you need an office or a place for guests.

Ultimately, this will come down to your budget and needs.

3. Don’t Forget to Check the Amenities

One of the best parts of renting an apartment over a home is the amenities and features they come with. Before you rent, be sure to compare the different amenities offered by varying apartment communities.

There are amenities that you may consider more mandatory, like having a washer and dryer. Then there are those that are just nice to have, like a gym or covered parking.

4. Get Renters Insurance

Even if you don’t own the place, renters insurance is cheap and worth it. In fact, the average cost of renters insurance is only $180 a year. It protects your belongings from fire, natural causes, and even theft.

5. Know All of the Fees

One of the biggest things to know when renting an apartment is that you won’t just be paying the rent. When first leasing a place, you’ll want to find out how much the security deposit, downpayment, and any other fees are.

You may also be responsible for the monthly cost of WiFi and utilities if they’re not included.

6. You Will Want to Prepare to Apply

If it’s your first time leasing an apartment, the best course of action is to prepare the documents you’ll need to apply in advance. Leasing offices usually want proof that you’re responsible enough to pay rent and won’t damage the property. As a result, they’ll want to see items like your paystubs, credit score, and employment references.

Keep in Mind These Things to Know Before Renting an Apartment

Renting an apartment for the first time can be as nerve-wracking as it is exciting. As long as you keep in mind these 6 things to know before renting an apartment, you’ll find a place you love in no time.

If you’re looking for a place now, be sure to check out our affordable apartment plans.

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