how do i start renting an apartment

^{How To Rent An Apartment}

1. Determine your budget. As you start your apartment search, it’s important to determine how much you are able to afford before committing to a fixed monthly rent.
2. Make a list of your ideal apartment criteria. It’s important to prioritize what you want in your new residence before beginning your search. ...
3. Research potential apartment complexes. After drafting your list of apartment criteria, begin to research different apartment communities that fit your needs.
4. Visit prospective apartment complexes. Set aside time to tour complexes and/or attend open houses. ...
Ask questions. While touring a community and/or attending open houses, make sure to ask the management questions. ...
Fill out an application. Once you’ve narrowed down your apartment options and chosen where you want to live, you can start the rental application process.

What to know before renting your first apartment?

How to Rent Your First Apartment: 8-Step Checklist

1. Set Your Standards. Here's the thing: you can't find the apartment of your dreams if you don't know what you're looking for.
2. Determine Your Budget. One of the most challenging aspects of renting your first apartment is creating and sticking to a budget.
3. Find a Roommate (if applicable) If you find yourself in need of a roommate, don’t rush to find one. ...

More items...

How to avoid getting scammed when renting an apartment?

• Learn the basics of how rental listing scams work.
• Get the terms of your rental in writing, including fees, rent, and maintenance.
• Get a copy of the lease, signed by both you and the property owner/manager.
• Do a search on the owner, real estate management company, and listing. ...
• Visit real estate websites. ...

More items...

How much income required to rent an apartment?

Your household income should also be 2 to 3 times your monthly rent. For example, if your rent is $1,000 per month, your landlord will want you to earn around $3,000 per month to comfortably afford your rent. However, if you live in an expensive area like New York City, it's common for renters to pay much more.

What are some tips on renting a basement apartment?

Safety tips

• Inspection. The first thing you should consider is the status of the apartments you’re looking to rent/or build.
• Mold and gas. You need to ask “can living in a basement cause health problems” and the answer is obviously yes if the apartment isn’t legal and it doesn’t meet ...
• Escape plans. ...
• Preventing burglary. ...

How do I get started with an apartment?

How to Get Your First ApartmentDetermine How Much You Can Afford to Pay.Find the Area Where You Want to Live.Decide Whether You Want a Roommate.Gather Solid References.Start by Looking at 5 Properties.Clarify the Cost of Utilities.Take Your Time to Make a Decision.Submit the Application.More items...

What should you do before renting an apartment?

Things to Know Before RentingSome Landlords Require Good Credit History. ... Rent Doesn't Help Your Credit Score. ... Your Rent Can Increase. ... You Can't Always Remove a Co-Signer or Joint Applicant. ... Get Renters' Insurance. ... Evaluate the Property and Neighborhood. ... Inspect the Property. ... Read Your Lease.

How can I get my first apartment at 18?

7 Tips for Getting an Apartment Without CreditRent from an individual owner. ... Offer to move in right away. ... Prove income or savings balance. ... Pay a few months' rent upfront as a security deposit. ... Provide reference letters. ... Offer to start out month-to-month. ... If all else fails, get a co-signer.

What are the requirements to rent an apartment in Texas?

Rental Requirements Two years of verifiable, favorable residence history from a third-party landlord is required. Rental history demonstrating residency, but not by a third party, may require an additional security deposit. A criminal background check will be performed.

What I wish I knew before renting an apartment?

In our search, we narrowed down ten things we wish we knew before we began our journey a year ago.Make sure you understand exactly what you're paying for. ... Be realistic. ... If something is broken, tell someone immediately. ... Take notice of the location. ... Remember what your priorities are. ... Check out the entire building.More items...•

When renting an apartment What do you pay for?

Key TakeawaysTo budget for an apartment, you'll need to find out the costs for your rent, insurance, food, transportation, entertainment, and possibly utilities.Ask your landlord about any miscellaneous fees, either one-time fees or ongoing, monthly costs, that will affect your expenses.More items...

Why is getting an apartment so hard?

Tight inventory has kept home prices high, and it's not just prospective buyers who are feeling the heat — rents are climbing higher, too. Cities like New York and San Francisco, generally associated with expensive rent, saw some prices come down during the pandemic. Those rents are rising again.

How long does it take to get approved for an apartment in Texas?

Most applications take 2-3 days to process and for a decision to be made, however, there are instances where it may take longer. In Texas, the law deems an applicant has been rejected after seven days from the date the person submits a complete rental application.

What documents do landlords ask for?

Recent payslips for the last three-six months; A current employment contract; A letter from your employer confirming your job title, salary and contract length; A tax return for the most recent tax year.

Do you need good credit to rent an apartment?

There's no set credit score necessary to rent an apartment or house; the criteria for approval will vary depending on the property, location, landlord and other factors. However, knowing your credit score before you start apartment-hunting can help you zero in on properties you may qualify to rent.

What are the requirements to rent an apartment in Georgia?

CRITERIA REQUIREMENTS:Proof of Current Income: It is important that you provide the source of income that will cover the term of the lease. ... Income Requirement: ... Credit History: Must have satisfactory credit. ... Criminal History: Must have satisfactory criminal background.

What credit score is needed to rent an apartment?

When you apply to rent an apartment, you can expect nearly all landlords to run a credit check. As a general rule, you'll want a credit score of 620 or higher to secure a rental. But there's no hard and fast number: it varies by landlord, and it's only one factor in your rental application.

What information does a person need to know before renting an apartment quizlet?

Terms in this set (10)Location! Location! Location!Rent Amount.Length of Lease.Building Size.Amenities.

How much should I spend on rent?

As a general rule of thumb, a household should spend no more than 30% of its monthly income on rent. To figure out how much you can afford to spend...

How do I prepare my apartment application?

Most landlords may ask for your credit score, rental history, proof of income, references, and social security number to conduct a credit check. To...

Do I have to pay for utilities?

Depending on the apartment complex, tenants may be responsible for certain utilities. This information should be outlined in your lease agreement....

How to make a decision about which apartment to rent?

Make sure you take time to learn about the neighborhood you're thinking about moving into. Sign up for a virtual tour or make an appointment with a leasing agent to take a walk through the area. This could help you make up your mind about which unit you'd like to rent, especially if a few places are similar in cost or size.

What to do if you can't afford an apartment?

If you're worried you can't afford an apartment on your own, you may want to find a roommate to share the cost of rent, utilities and household items with. Splitting a place with one or more roommates means you could get a bigger apartment in a building with more amenities.

What does a landlord look for in a background check?

Most landlords or property managers will do a background check on you to make sure you're a qualified candidate for the apartment and that you will pay rent on time. They will be looking for things like whether you have bad credit, whether you've defaulted on loan payments and whether you have a criminal record.

What does an apartment lease cover?

Some apartment buildings cover the cost of heat, hot water and electricity, while others also include things like WiFi or cable TV. Your lease will also detail how much you need to pay for parking. If there are any clauses you don't understand, ask the landlord or property manager what they mean. 10.

How to get references from landlord?

Ask your work supervisor who can confirm you are dependable and trustworthy, your former resident advisor if you lived in a dorm or a neighbor that's known you for a long time to write letters on your behalf. This way, you will have them ready if a landlord asks for references.

How to find someone responsible for a rental?

Consider asking a friend to look for a rental unit or have a look on websites such as Roommates.com to find someone who is responsible and respectful.

How much of your income should go towards rent?

First, it's important to understand how much you can comfortably afford to pay. Typically, no more than about 30 percent of your monthly income should go towards your rent, according to the U.S. Department of Housing and Urban Development.

How to find people renting out apartments?

Try searching social media sites as well. In larger cities, there may be a group for people renting out apartments.

What do you need to bring to an apartment?

Bring your vehicle registration and proof of car insurance. If you have a car, and if your desired apartment has on-site parking, the landlord may ask for these. Some apartments come with an assigned parking spot, and this information is used to make sure no one is taking your space and that you are parking where you are supposed to.

How to find an apartment complex?

Drive or walk around your town or city. Simply driving or walking around in your city offers a good way to find apartment complexes. Most complexes will have a phone number posted to call if you are interested in looking at what they have to offer. If you’re really lucky, they may have an on-site office, where you can talk to someone, and maybe even see an apartment on the spot.

How to remember apartment?

Bring a pen and paper with you to every apartment you visit. Sometimes it can be hard to keep all the different apartments you visit straight in your memory. Bring along a pen and paper to make notes about the pros and cons of each apartment, the deposit, the monthly rent, and anything else that seems important to remember.

How to get your belongings into an apartment?

In some apartments, particularly in big cities with narrow streets and lots of cars, you may have to coordinate the use of parking spaces or service elevators to get your belongings into the apartment. Clarify these with your landlord at least a week or two before your scheduled move-in date.

How to read a lease before signing?

Read the entire lease before you sign it. Make sure that all terms and conditions are exactly what you were told when you initially inquired about the apartment. If you are unsure about anything, ask for clarification or take the lease to an attorney or trusted friend to review.

Can a landlord let you have a cosigner?

For those just starting out, who have little credit history (e.g. many college students), landlords may be willing to let you have a co-signer. This is someone, such as a parent or other relative, who signs an agreement stating they can afford to, and are willing to, cover your rent in the event that you cannot.

How to find out how much rent you can afford?

Step 1: Figure out how much rent you can afford Step 2: Find out your credit score Step 3: Do your research Step 4: Understand your lease terms Get your funds together for your move in costs.

How to avoid stress in an out of budget apartment?

It’s easy to be dazzled by an out-of-budget apartment, but in the long run, knowing what you can afford—and sticking to it—will prevent financial stress. With your first place, you’re likely going to have to make compromises in lifestyle to meet your budget, so figuring out what you can afford to give up and what is essential for your lifestyle is another important step beyond your financial calculations.

How to secure a lease with a low credit score?

Even if you’re going to pay your rent on your own, you may need a cosigner to secure your lease. A guarantor is a person who will co-sign an apartment lease alongside a tenant, guaranteeing to pay the rent if the tenant fails to do so. The guarantor is usually a parent, family member, or close friend who is willing to be legally responsible for the rental apartment.

What to check in an apartment showing?

Your apartment is where you’ll rest and recharge after a busy day out in the world, so take the time to find the right place for you. During a showing, check every space in the home including all shared spaces, outdoor spaces, and any amenities offered like parking, gyms, and laundry rooms. It is perfectly normal to test faucets, appliances, doors, and locks, and common to take measurements for any furniture that has to fit.

What is a credit score for a first time renter?

A credit score is a three-digit number based on your credit history that banks, credit card issuers, auto loan issuers, insurance companies, and landlords use when making lending or leasing decisions.

What to know before signing a lease?

Before signing a lease, make sure you understand the length of commitment ( month-to-month or year long), rules around pets, parking and the security deposit, and what you are responsible for maintaining versus what the landlord will take care of. Ask questions, and go to a family member, friend, or the internet to clarify any terms you don’t understand before you sign.

How to live with roommates?

If you’re going to be living with roommates, do your due diligence on the people you will be living with. Make sure your potential roommates are a good fit beyond first impressions and likeability. Chore schedules, similar lifestyles, living with people who replace the toilet paper roll—these are the things roommate dreams are made of. Interview your future roommates to learn about their personalities and lifestyles.

What should a first time apartment renter have?

A first time apartment renter should always prioritize amenities, as well as location. In some areas, apartment complexes come loaded with options like swimming pools, on-site fitness centers, rooftop terraces, and more.

What do you want in an apartment?

In addition to shared amenities, think about what you want inside of your apartment. An updated kitchen, outdoor space like a balcony, oversized bathroom off the master bedroom, and closet space are all worthwhile amenities to consider.

What is rent calculator?

A rent calculator can help give you a better idea of what you can and can’t afford. Plug in your location, desired number of bedrooms, and your monthly gross income and the rent calculator will do the rest. We’ll provide you with a recommended rent figure and apartment options in your area that fits your budget.

What to ask before signing a lease?

Before signing a lease as a first time apartment renter, make sure to ask as many questions as possible. Start with these questions to ask when renting an apartment. Don’t forget to think about the noise levels when you tour, and ask about how hot it gets there in summer, and how cold it is in winter. Be specific and thorough with all of your concerns, and if anything needs to be fixed, ask for it before you sign the lease.

What do landlords ask for?

Most landlords may ask for your credit score, rental history, proof of income, references, and social security number to conduct a credit check. To ensure you have all of the proper documents, give the landlord a call.

How much should a household spend on rent?

As a general rule of thumb, a household should spend no more than 30% of its monthly income on rent. To figure out how much you can afford to spend on rent, use the rent calculator.

When is the best time to move?

Rent prices are subject to change based on seasonality, and you can save on rent by being strategic about your search. As a general rule, winter is the least competitive time to look for an apartment and when you can score the best deals. This rule can even apply in warm-weather cities when families are reluctant to move their kids during the school year, college students are busy with exams, and people are busy with the holidays.

1. Searching for your apartment

Renting an apartment always begins with the search. A few key decisions will help you narrow things down. Before you begin to look, decide what size apartment you want, pick a few preferred neighborhoods and figure out what you can afford. Then, let the hunt begin.

2. Filling out a rental application

Once you find that perfect apartment, the next step usually is to complete an application. You may also have to put down some money, so it's always a good idea to bring a checkbook with you when visiting an apartment for rent. The application process gives property managers a chance to get to know you better as a renter.

3. Signing the lease

After your rental application gets approved, the next step to renting an apartment is to sign the lease. While this process can feel quick and easy, you're signing a legal document, so approach it with extra care. Take the time to read through the lease carefully and make sure you fully understand the terms before signing anything.

4. Preparing to move

The paperwork is complete and an actual move-in date is now on the calendar. Time to breathe a sigh of relief, the perfect apartment is almost yours. The last thing to do is move. More than just packing up your stuff and getting it to your new place, preparing to live somewhere different requires extra setup and preparation.

Successfully renting an apartment

From the initial search to signing a lease on your ideal apartment, knowing how to navigate the process can save you time and stress. It can also help make sure you're settling into the perfect place.

What do you want in an apartment?

What you prefer to have in your apartment or apartment community is considered a “want.” They’re on your wish list if you will, but you can live without them. Amenities like a swimming pool or chrome finishes typically fall within this area. Determine what your needs are first – and then be elated when your apartment comes with some of your apartment wants! It’s a great feeling when the universe works its magic for you.

How to save up for your first apartment?

Putting together an apartment budget can help you save up for your first apartment. Continuing your budget plans, even after you move in, is a great way to grow your savings for rent, utilities, home décor, and more. You never want to spend more than you can realistically afford on rent for your first apartment.

What is the first step in moving out of a mom and dad's house?

Renting your very first apartment is a natural stepping stone of moving out of mom and dad’s house. The freedom of moving out on your own is very exciting, but it does come with a lot more responsibilities as well.

How long does it take to get a renter approved?

The turnaround time for approval is quick. Today, renters can know if they’ve been approved in less than 48 hours – sometimes it can be within minutes!

What does signing a lease agreement feel like?

Initialing here, signing there on a lease agreement will give you all the feels: joy, excitement, and maybe even a little nervousness too. It’s your first apartment on your own. But while you may not be able to contain your feelings, don’t ever feel rushed into signing a lease.

What does it mean to be a first time renter?

Being a first-time renter is a really big deal. You’re on your own and can do what you want when you want. It also means paying for services (like utilities) that you’re not used to paying. I’ve been in your shoes before, not knowing what I was doing at all.

What to think about when scouting for an apartment?

While scouting for apartments, think about the checklist you made regarding your needs. You did make one, didn’t you? Your apartment needs are very different from your apartment wants. They’re your must-haves, the features that will make you the most comfortable at home.

How to budget for an apartment?

Thankfully, creating your budget is easier than you think and takes just four easy steps to get started. First, figure out your monthly income from your paychecks. From there, add up your monthly expenses and subtract them from your income. The more exact you can be, the more useful your budget will be. Add in a buffer for emergency and what-ifs, and then you have figured out your living expenses.

How long does it take to decide on an apartment?

Take Your Time to Make a Decision. Although you may feel pressured to make an immediate choice, you should ideally take at least 24 hours to think about whether or not you want to apply for an apartment.

What is a lease written in?

The lease is filled with important information, including your responsibilities for the property, and the rules you need to follow while you're living in the apartment. The lease should be written in terms you understand, but if something doesn't make sense to you, then don't hesitate to ask the landlord to clarify. Some renters may even go so far as to run a lease by a lawyer before signing.

How to reassure landlord that you have a steady paycheck?

Hearing from a boss at work will also help reassure your potential landlord that you'll have a steady paycheck for paying rent. If possible, ask your references to write letters ahead of time. That way, you'll have them on hand and ready to add to any application.

How much of your income should go to rent?

Experts differ on the exact percentage of your income that should go to rent, but a commonly cited figure is that rent costs should account for 30% of your monthly income . The Department of Housing and Urban Development considers families who spend more than 30% of their income on rent to be "cost-burdened.". 1 .

How to find out where to live in a neighborhood?

Once you have decided on one or two areas that you want to live in, it's time to start your search. Look online and in the local newspaper. In hot housing markets, apartments may get rented before the listings go live online, so you might want to walk around the neighborhood to look for any "for rent" signs. Call a few property management companies to find out what they have available.

Is it cheaper to rent a studio apartment with multiple bedrooms?

You may find that it's cheaper to split the rent for an apartment with multiple bedrooms, rather than renting a one-bedroom or studio apartment for yourself. Do the math to understand what you'd potentially save, and consider whether those savings make up for the loss of privacy.

When do rents increase?

In a typical year, nationwide, rents increase during the summer and decline in the winter. From our data, we've observed that rents are at their highest from July through September and at their lowest from December through February.

What happens if you wait too long to start looking for an apartment?

If you wait too long to start looking for apartments, your options are limited. In that case, you may end up settling for an apartment that is less-than-ideal.

Why are rent prices increasing in summer?

Increased rent prices and interest in moving, during the summer, is driven by renters with children or new graduates wanting to move when school isn't in session. Weather also less likely to get in the way

How long before lease ends can you tour apartments?

Start lining up appointments to tour apartments one to two months before your lease ends. Whether you're on a month-to-month lease or annual lease, check your rental terms to confirm how much notice you need to give your landlord to vacate the property. Try your best to schedule tours on the same day.

How to get a sense of what the average rent prices are in your preferred area?

To get a sense of what the average rent prices are in your preferred area, check out our average rent reports and National Rent Report.

How to avoid rental fraud?

Use a check or another traceable form of currency exchange. Become adept at spotting rental frauds, hone your skills to avoid being victimized. You can't stop rental fraud, but you can avoid it. Doing your due diligence can make it difficult for you to fall prey to scammers.

When signing a lease agreement, should you take the time to review it?

Before you sign a lease agreement, you should take the time to review it, regardless of the circumstances.