How To Find The Perfect Apartment To Rent?

Whether you are a young adult about to live by yourself for the very first time or you have experience renting apartments, renting an apartment can be tricky.  Finding the proper place at the ideal cost is not simple, but it does not need to be too overwhelming.  After you figure out what you can afford, you can find the right apartment,  agree to the lease contract, then sign the dotted line.

Here are 6 steps you can take to help find the perfect apartment to rent.

1.  Affordability

The U.S. Census Bureau says that your monthly lease should not exceed 20% of your monthly salary — 30% is the maximum.  For an example, if you bring home $4,000 per month, then you can pay a maximum of  $1,200 in rent.

Make sure you take the time to calculate your budget.  This will help you reduce your search to places that you can afford.  Create a budget using a very simple spreadsheet or an online service such as Mint or Pear Budget. Detail your earnings and expenses to the cent, from fixed costs like telephone bills, student loans, and automobile payments, to variable monthly bills such as markets, entertainment, and clothes.  All these costs can really accumulate.

2. Location

The location of your apartment is of course important.  If you are looking to rent in a town center or a busy city, rent will be expensive.  It is a good idea to look at apartments in the suburbs to save some money.

Consider what your transportation costs will be in the location you are looking into.  Urban areas generally need a more smaller transportation budget, because you will have access to public buses or subways to go around.

3.  Renters Insurance

For many, renters insurance is optional; however, for most renters it is required by landlords.  In any case, you need to add it to your financial plan.  It insures losses if there is theft.  In addition, it can help protect your landlord if you vandalize the house.  Fortunately, renters insurance is reasonably priced.

4. Credit Check

Many landlords conduct credit checks to find out whether there are any glaring problems with prospective tenants.  You should even expect a background check.  Landlords conduct these checks before approving you.

it is a good idea to ask for a free credit report before you go apartment hunting. This way you can see any possible roadblocks.  All three credit reporting bureaus (Equifax, TransUnion, and Experian)  must provide you a free credit report every year.  It is no charge to you and will not impact your score if you ask it, however you need about three weeks to really obtain the report.

5. Start Hunting

Do not leave apartment searching for the last minute. In a ideal world, it should start about three months prior to your move date to find an apartment. The vast majority of places need tenants to give a minimum of 30 days’ notice, but lots give more.

6. Security Deposit

Many landlords require a deposit, which is normally the first and last month’s rent, together with a security deposit.  For example, if you are forking over $800 a month for a new apartment, you will need $2,400 to sign your new lease.

7. Get Documentation

Landlords have a significant financial risk if they don’t thoroughly check out each candidate, so along with background and credit checks, they may need additional documentation.  Make sure you have them handy before you start your apartment search.

8. Do A Walk Through

Do not sign that lease yet.  Since previous tenants might have caused damage or maintenance issues, you have to make sure you will not be accountable for any problems which weren’t your fault.

Turn on lights and faucets, and flush toilets across the apartment to be certain that they all operate correctly.
Assess for insect or rodent infestation, especially in closets and storage spaces.

Bring  a mobile phone charger and plug it in the sockets to be certain they all working.
Switch on all appliances to be certain they are working.Examine walls and floors for any sort of damage.  Carpet, wood, linoleum, dry wall tiles should all be inspected.

Save the inspection document so if you can find any disagreements with care or issues getting your security deposit back once you move, you’ve got proof to prove you did not cause the harm.

9. Read And Sign The Lease

Lease arrangements vary based on time and contract stipulations.  Make sure to read your lease agreement carefully before signing.  If you have any questions regarding your lease agreement, make sure you ask before you sign the agreement.

No matter the duration, your lease includes articles like security deposit sum — and terms under which the deposit is kept by your landlord terms for lease.  If you have to vacate your apartment, you will have to notify your landlord.  The best way to notify your landlord that you are vacating the house, is via email.

While the lease might not be negotiable, the rent frequently is.  On some occasions, you may negotiate the price of utilities or receive a guarantor to cosign if your credit rating is not great.  Based upon the apartment’s desirability,  location,  and present condition, you may possibly get a discount in your rent.