Tips for Renting an Apartment

                In the current housing economy, there is a great debate on purchasing a home vs. renting a home. For young people, there’s almost no contest. I myself have been a renter for over five years, in which I’ve lived in four different apartments. There’s good, bad and ugly to renting your home. Below are some tips to help you get the apartment, make it feel like a real home, and possibly save some money along the way.

                To Get the Apartment:

•           Look like a grown-up. Don’t show up in holey sweatpants and flip flops. You don’t need to wear a business suit, but jeans and decent shirt make a greater first impression.
•           Make sure you bring a check or money order to cover the rental application fee and most likely a credit check fee. Some landlords and rental companies will accept a copy of a recent credit check, thus waving that fee, but please check with them first. To get a free credit check, go to either Equifax.com, Transunion.com, or Experian.com  or annualcreditreport.com where you are entitled one free credit check from each per 12 month period. You should also use these reports to clean up your credit by making sure there are no mistakes.
•           Bring any reference letters with you as well. You look better than the applicant who makes the landlord wait three weeks while he or she gets letters from their boss, colleagues and current landlord. Get a leg up on the competition!
•           If you are looking at a specific apartment or house (i.e. not a complex), speak with the neighbors to see if there landlord or rental company is good about repairs, etc. or to see if there is a neighbor who creates unnecessary disturbances.
•           Don’t go over your budget. A good rule of thumb is to never pay more than 1/3 of your gross income. Sometimes, this isn’t possible to stick to, but try to be as close as possible or make a lot of sacrifices in other areas of your budget.
•           Read the lease. You might be surprised the things you can and can’t do in your new apartment. Never sign if you are not 100% sure this is the place for you. And always keep copies of ALL correspondence, before, during and after your tenant days.
•           Many people recommend renting from an individual landlord as opposed to a rental company because individuals will be less likely to hike up the rent and will value you if you stay long term.
•          Look in the middle of the month if you can. Most people look to move in at the beginning of the month, leaving landlords to let the apartment rest for a few weeks instead of flipping it rapidly. You might even be able to negotiate a lower rent rate if you move in during the middle of the month. Starting your search early will also let you look at enough options to be sure in the one you pick.
•           Use a roommate and split rent and utilities.

How to Feel at Home:

•           Decorate! Ask if you can paint, put nail holes in the wall, etc. before you do to avoid any charges come check out time. It’s easy to repaint or fill in tiny nail holes when you do leave. You can also use poster strips, sticky tack or tape to help hang your lighter objects.
•           If you are worried, don’t hesitate to get renter’s insurance. I have never purchased it but (knock on wood) I've been lucky enough not to need it. My current neighbor had his apartment get severe smoke damage however and needed it. You can never tell and if your budget allows for it, it’s best to be on the safe side.
•           Demand repairs! If you have something broken, call them to fix it. Keep calling them until they fix it. You have a right to live in a habitable place. You also don’t want to get stuck paying for something out of your security deposit that they were supposed to fix (this goes back to keeping records of your contact with them).
•           Save energy and reduce your utility bills. Energy Star has tips for renters.
•          Make friends with your neighbors. Eventually, if you get locked out, they can have a key to let you back in. Or pet sit for Fluffy and Scruffy (if they’re allowed).
•           Know your neighborhood. Where is a good place to go for a walk or get a latte? Where is a bad place to do those things? Be comfortable in your surroundings and be safe.

There are several more tips out there that I could spend pages upon pages talking about. Do your research, but don’t overthink it. If it seems like a good place and you like it, take it. Advocate for yourself once you have it. Don’t be afraid to talk to your landlord about anything regarding the apartment. Good luck and happy hunting!