Are you a first-time renter? Is the process stressing you out? Have you even started the process? Do you need some help? Have you tried reading articles online and they’re just filled with a bunch of unhelpful information? If you answered yes to any of the questions above then this A-B-C Guide to First Time Renting is just for you. After you read this blog, you should check out our blog on “How to Find the Right Apartment?”, it will definitely help in your moving process.
A- Allow yourself time to find a place.
B- Bring someone with you when you go visit properties. They may notice something you do not and it makes it more fun.
C- Communicate. Call the property to find out information before visiting. Communicate by discussing payment arrangements and other information with your landlord. Do not keep them in the dark.
D- Do not lie on your rental application. 99% of the time the rental company will know.
-Check out this page on application evaluation. E- Each applicant will be evaluated based upon their own information.
F- Financial stability is key to maintaining your survival as a first-time renter. G- Groceries will be your best friend. Eating out will only affect your budget and cooking will more than likely be healthier than fast food.
H- Help. It is okay to ask for help in your apartment search, during your application process or after.
I- Inquire as to the crime rate, schools, and atmosphere of your potential new residence.
J- Job. Make sure you go to work. Just because you have your own place now does not mean call in sick because you want to watch Netflix on TV. Maintain your employment. It is very likely that if you lose your job, you will fall behind on payments.
K- Keep it quiet. If you move into an apartment and have neighbors. Try and keep it down late at night or early in the morning. Your neighbors will love you for that.
L- Lease Terms. Before you sign an application, you want to make sure you know how long your lease is for and if that fits in your plans. It could be 6 months, 12 months, 18 months, or 2-year lease. This is important information.
M- Maintain a budget. You do not want to fall behind on your bills.
N- Notify your landlord of any damage or issues you see within the first five days of moving in. You do not want to be penalized for a past resident. O- Options. Be sure to weigh all your options before you sign on that dotted line.
P- Property Upkeep. Pay attention to the property when you visit. Is it maintained? What are the residents doing? Are the cars on the property operable? Does it look like the rental company cares about its residents?
Q- Qualifications. Have you spoken with someone about the rental qualifications or requirements? Do you meet those?
R- Respect the property. You can be fined or even forfeit your security deposit for damage caused to the property.
S- Second Chance apartments work with negative and minimal credit history. If you lack rental history or credit, maybe a second chance apartment will be the best choice for you.
T- Give the office time. Please allow the rental company time to process the application. It is okay to call and check on your application, but maybe not twice a day.
U- Understand that the rental company has a job to do and no part of that job is personal. If your application is not approved, try and find out why and then work to fix that issue. V- Versatile. Be willing to adapt to changes. Maybe your move-in date has to be pushed back, maybe you have a deposit higher than expected or maybe they changed their qualifications. No matter the situation, remain versatile. W- Worthwhile. It may seem like a long and anxiety-ridden process, but once you hear “ you were approved” it will all have been worthwhile. Remember to be patient
X- X means to Multiply. You want to multiply your monthly net income and see if you bring home at least 3x your rent. Anything less than 3x and it could leave you without enough income.
Y- Yield on your spending. Between moving costs, first-month rent, and a deposit you’re going to need to save some money. Not to mention I’m sure you’re going to want to buy some new things to make your place feel your own. Until you get situated, don’t spend….Thank me later.
Z- Zoom into action. Every day you waste is a day you don’t have your new place.
Check out our resource page for additional information on first time renting.