Essential Things You Should Consider Before Renting An Apartment
In all honesty, there are so many things that you need to consider before renting a property. The entire process can seem a bit overwhelming. Where should you look for an apartment? What is your budget? What all expenses have you included in this budget?
Well, there is certainly a lot that you need to think about. Here, in this guide, we have tried to break down the entire process for you, through and through. We will attempt to walk you through the complete process of renting an apartment, step by step.
Let us get started and look at it one by one.
What will be the upfront cost?
When you shift to a new apartment, the rent is not the sole financial concern. Beyond the fixed monthly expense, you also have to save for the upfront cost. From the security deposit to the application fee, a pet deposit, and the last month’s rent for the area where you are currently living and the first month’s rent for the new place where you are moving, there is a lot of money that you need to shell out before you get access to your apartment’s keys.
How do you plan for this? Mia, who works with a platform where you can pay to do homework,says that when she decided to move to her current apartment, she set aside an amount equivalent to four months’ rent, and only then did she start looking for homes. So, start saving for a couple of months’ rent before deciding to move to a new apartment as it can help you cover all this cost.
Have a budget, and stick to it
Before you start looking for homes, you need to know precisely what you can afford and what you cannot afford. For this, stick by a simple rule – Ensure that the rent amount is not over one-fourth of your monthly salary. So, this can be your budget.
Hence, try to put this filter when you look for homes or apartments that you can rent. At times, you may be forced to compromise, but remember, it is a monthly affair. So, only get into a home whose rent you can afford each month comfortably.
Get your renter’s insurance
Yes, that does mean an additional expense, and we know you must not be very thrilled about this new bill, but do you know what? It is a necessity. My renter’s insurance became a complete lifesaver when there was a fire in my apartment, shares Robert, an educator who offers online assignment help Brisbaneservices. Yes, any time there is a natural disaster, theft, or fire, your renter’s insurance can be of great advantage.
The problem is renters usually assume that the landlord’s insurance policy will cover everything, but that is not correct. His insurance will certainly protect the home, but not the stuff that belongs to you and is in the house.
So, think of all the things that you own. You cannot afford to lose it, right? So, get insurance. The good thing is renter’s insurance is very affordable. It does not cost more than 10 USD per month (sometimes even lesser). These days, landlords even insist on renter’s having insurance before allowing them to move in.
Examine the neighbourhood and the property
When you decide to rent an apartment, you need to select a neighbourhood, which is both safe and comfortable. At times, many first-time renters will make a hasty decision and will sign the lease without examining the area thoroughly. Please do not rush through this process, and take it slowly.
So, before you commit to an apartment, walk past the neighbourhood, and examine it. To best inquire about the community, you must visit the area multiple times during the day, especially during the weekends and the evenings when most of the residents are present, suggests Lily, an online geometry tutor. Let us explain to you why this is important.
See, you need to see how quiet or loud the neighbourhood is. Further, while you walk around the area, do you feel safe? You can even talk to some of the neighbours to get an insider view of the neighbourhood.
Be aware of your rights
Your landlord will give you a rent agreement to sign before you can move in. The landlord formulated this rental agreement. So naturally, it will be more in his favour and less in yours. Typically, it will give you limited rights over the property where you plan on staying.
Thus, it is crucial to be aware of your rights. It would be best if you ascertained that the agreement does not contain anything that intervenes with your privacy and security. For instance, your landlord cannot decide how you live; they cannot restrict the entry of any visitors in your home; they cannot intervene with your lifestyle; and they have no right to decide what time you reach back home.
More so, at no point in time can a landlord force you to vacate the home as long as the agreement is in force and you are paying your dues in time. Thus, it is essential to read the agreement before you sign it thoroughly. Pay special attention to the clause that specifies the period for which you can stay in the home and the period after which the landlord can increase the house rent.
Whenever there is anything that seems objectionable, talk it out, try to chuck it out, or come to an agreement before signing.