8 Factors to Consider Before Renting an Apartment

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Services for Real Estate Pros with Eric J - Dream Home Financing

8 Factors to Consider Before Renting an Apartment

Renting an Apartment

Are you tired of your old apartment? Do you need to move for work or family? Or are you just ready for a fresh start? Then moving is something we see in your near future.

Moving is quite an exciting event, but also very stressful (and hard on the back). How do you know this new apartment will offer you comfort, safety and an opportunity to thrive? Easy! Here are a few factors to consider when renting an apartment so you can enjoy all the benefits and skip all the problems:

Budget

Unfortunately, the situation in the world is quite uncertain today and all of us need to consider money before any other apartment aspect.

When budgeting for your apartment, consider your monthly income from all sources and see whether it can support the monthly costs of living in your potential new apartment. These costs do not just include rent—you have to consider the security deposit, extra fees, application fees, cost of utilities, renters insurance, etc.

The number you get when you add everything up will need to be compared to your income so that you know in what price range to look for an apartment. 

Parking

If you own a car, you know just how important parking is—your car needs to stay somewhere safe, cheap and convenient. Parking away from your apartment means a little bit more exercise and fresh air, but imagine if you need to carry groceries or get to your car in a hurry.

Some cities are notoriously bad with parking like Chicago, NYC or San Francisco, but if you choose a bigger state and a smaller city, expect a lot of space. Car owners should always check whether an apartment also includes a parking spot included in the rent price or available for rent.

If there’s no such thing, you should drive by later in the evening and check out the parking situation. In case you see no empty spots, you might want to continue your search.

Location

And another thing before you start contacting renters: consider the best location for your apartment. Find a map of the city you want to live in and mark all the most important places in it—your job or school, your partner’s place, your favorite bar, your family’s house, etc.

Consider how far you’re willing to be away from these places and create a radius that will allow you to narrow down your search. In smaller cities like Lubbock, Texas, you can basically choose any location and still be close to all the most important establishments, job opportunities, schools and entertainment. Plus, affordable Lubbock apartments for rent can be found on every corner, so you don’t have to waste days searching for a place.

Picking out a city that’s smaller in size might benefit you in many ways, so don’t just automatically go rushing for a metropolis.

Rooms

Once you find an apartment that satisfies all the aforementioned criteria, you can take a deeper look into the most important rooms - the kitchen and the bathroom. If these two rooms need a lot of investment, it means your landlord is not very proactive with maintenance.

If you are passionate about cooking, a cramped kitchen might kill that love, but don’t just settle. There are still rental communities with big and well-equipped kitchens out there.

Furniture

When examining the place, bring a tape measure so you can check whether your furniture can fit into the apartment. If it can’t, can you afford new furniture? Living in an empty apartment might seem like an adventure now, but it will soon become a huge bother.

Landlord

Choosing a landlord with bad ethics or no boundaries can completely cause you to hate the apartment. In order to examine the landlord situation, meet with them so you can chat a little bit and ask a few questions concerning privacy.

In case you’re moving into an apartment as a roommate to existing tenants, check the level of their satisfaction with the landlord.

Pet-friendly or not?

If you have a pet, then you probably see them as your family, but that’s not what many landlords see as well. No matter how perfect the place is for you, if it doesn’t tolerate your pet, you will have to continue your search without expecting your landlord to change their mind. Some communities charge pet fees, so add that to your budget calculations.

Lease

If everything looks okay to you, talk to your landlord about your lease. There are different kinds, but most insist on yearly leases. But it’s useful to know your options in case you’re not sure about the duration of your stay. It’s possible to agree to six-month leases in the US as well as month-to-month leases, but the latter can be more expensive.

Anyone who’s ever been in search of an apartment knows how stressful this venture can be, but if you do your research, you will find a place that’s the right fit for your budget, your needs and your dreams.

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Comments (2)

Sham Reddy CRS
H E R Realty, Dayton, OH - Dayton, OH
CRS

Great points, thanks for sharing Etic!

When budgeting for your apartment, consider your monthly income from all sources and see whether it can support the monthly costs of living in your potential new apartment. These costs do not just include rent—you have to consider the security deposit, extra fees, application fees, cost of utilities, renters insurance, etc.

Nov 08, 2021 03:57 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Eric. Renting can best he best option for some and you can be a bit more discerning of what is a need rather than a want, but home ownership is the better alternative for most. Enjoy your day.

Nov 08, 2021 05:00 AM