When renting an apartment for the first time there are several things that you need to do. If you have never rented before you will clearly not be able to provide things such as previous rent references and if you don’t have a credit card then you can’t have any credit checks. However you can follow these ten (10) steps to successfully renting your first apartment:
Open A Checking Account – If you don’t already have one you will definitely need one. This is to facilitate smooth payment of rent and you can pay using post dated checks. Just write down the check numbers for each check given.
Decide on Your Budget – Always make your budget at maximum 30% of your disposable income or what is better know as your take home pay.
Decide on The Community You Want to Live In – Find a community that you want to live in. This is really determined by your budget. Some communities will carry a higher rent payment per month so choose one that fits in your financial capabilities.
Locate A Real Estate Agent – Instead of scouring in newspapers and on the internet you can find several agents that will assist you for free. Many landlords don’t like renting to first time renters, the agent can quickly identify a landlord that can fit within your request.
Don’t Not Rent An Apartment Without Assistance – When renting for the first time it is advisable that you take along a friend or parent that has experience and can help you to ask the right questions at the viewing and can quickly see any flaws in a lease agreement.
Don’t Rent With A Roommate – This is advisable for more than one reason. If your roommate becomes delinquent and cannot pay their share of the rent, as the lessee you are required to find the entire amount. And if you cant you are both going to face bad reputations.
Don’t Ever Pay The First Months Rent In Cash – When you have decided on the apartment you want pay using your checking account. This will allow you to have an independent paper trail on what you paid and a way to match the receipts that you have gotten.
In most cases the landlord will require you pay a security deposit on renting the apartment. However when renting your first apartment it is really advisable that you get clarification on what happens when you decide to quit the premises. Some landlords treat this matter differently:-
- Allow you to live out the deposit
- Hold the deposit for 30 days to ensure all bills are paid up and damages repaired
- Return this to you upon quitting the premises.