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A Practical Guide to Finding Your Very First Apartment
Moving into your first apartment is both exciting and terrifying. We’ve all heard nightmare stories about crazy landlords, unreliable roommates, and horrible neighborhoods. Have no fear! With a little research and the right tools, you can find your dream apartment and avoid all the “first apartment pitfalls” so you can start enjoying the independence of having your very own place.
Figure Out Your Budget
First and foremost, you’ll need to figure out your budget. There are many expenses first time renters might not realize they’ll need to budget for. Rent is obvious, and should be about 30% of your income, but depending on the apartment complex and roommate situation, you may need to budget for utilities, like gas, electricity, water, and trash. You’ll also need to budget for any other expenses you may have, like a phone bill, car payment, car insurance, internet, and cable. You may also want to consider renters insurance, which can cover your belongings in the event of a fire, water damage, theft, or whatever is listed in your policy. Those are just the bills—you still need to eat and do laundry. You may be lucky enough to have parents who will feed you every night and let you do laundry at their place, but you really should include groceries and laundry (if you need to go to a laundromat or use pay machines in your complex) in your budget. And don’t forget other essentials like cleaning supplies, hand soap, and most importantly, toilet paper.
Have a Game Plan
Looking for an apartment can be daunting if you go in without any idea of where you want to live and what type of place you want to live in. Making a list of your must-haves can help make the apartment hunt a bit less overwhelming. Things to consider include price of rent, how many rooms you want, what neighborhood you want to live in, and apartment amenities (pool, on-sight gym, on-sight laundry). By coming up with a game plan, you can filter your search and find exactly what you’re looking for.
Start the Search
Once you have an idea of what type of apartment you’re looking for, it’s time to start your search in earnest. Online resources, like ForRent, allow you to pinpoint your search to apartments in your area or desired location without stepping a foot out the door. A big plus if you’re looking for Los Angeles apartments, you’ll be able to avoid the crazy traffic until something worth driving for pops up. Use on online rental finder to look at pictures of different properties, go on virtual tours, and look for any red flags such as rents that are too cheap to be true. To research and find out information about different neighborhoods, download an app like Dwellr, which gives you neighborhood-level statistics on topics such as education and how people get to work so that you can explore where you want to dwell.
Schedule a Tour
Once you’ve found some perspective apartments, you’ll want to schedule a tour. Calling the property manager or landlord is preferable over email as it gives you an opportunity to ask questions and can help you avoid wasting time looking at an apartment that doesn’t fit your criteria right off the bat. Find out if they have other tours scheduled, or have already taken applications before you schedule an appointment since the apartment may already be on its way to going to someone else. Another thing to note is that time is often of the essence when it comes to finding a rental. The rental market can be very competitive, especially in trendy neighborhoods. If you like a place, you may need to act right away so come prepared to fill out an application. Most applications require a fee for a credit check (bring your checkbook just in case), one to two references, employment information, and monthly income. You will likely need certain documents to complete the application process, which may include your three most recent pay stubs and a copy of your photo ID, so be sure to bring these along as well. If you’re renting with a roommate, they will need to bring their own documentation too.
Signing the Lease
If you’re application is accepted, you’ll be given a lease or renter’s agreement to sign and will most likely need to be prepared to pay a security deposit and first month’s rent. Some property managers and landlords also require last month’s rent so you’ll want to make sure you have plenty saved up for the moving process. On a side note, most rental agencies and apartment managers require this first payment in the form of a money order or cashier’s check. Be sure to read the lease before you sign it and make sure any verbal agreements you’ve made with the landlord or property manager are reflected in the written contract. You’ll also want to double check the length of the lease, verifying it matches the terms you agreed to, and look for how much it will cost to break your lease in case you need to move earlier than expected.
Your first apartment will always be something you’ll remember, for better or worse, but definitely for better if you follow these tips. Now that you have the basics down to finding an apartment, it’s time to go forth and conquer. Enjoy the search and best of luck to you!
