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While there are plenty of benefits to owning your own home or apartment, over 1/3 of Americans opt for renting instead. Finding the ideal home for rent can feel daunting, but it can become easier if you have the right items on your checklist. Whether you’re a first-time renter or looking for your fifth place, there are essential things that you must consider; keep reading to learn the top things to add to your checklist while searching for your dream rental.
Determining Your Neighborhood
Of course, where you live affects more than just the cost of your apartment; it can affect everything from transportation expenses to a good night’s sleep if the neighborhood is noisy. While you might want to live in your dream neighborhood, you have to consider if your dream neighborhood is ideal beyond appearance; how close will you be to work or school? Is public transportation available? Is your neighborhood walkable? Will it be quiet enough? If you enjoy taking advantage of local cultures like museums, restaurants, and excellent shopping, the proximity to these things matters. While you want to stay within budget, consider your quality of life when determining your neighborhood.
Pet Policies
For many people, their pets are their family members and with 75% of Americans owning at least one pet, knowing your prospective rental properties terms on pets inhabiting the space is key. Do they charge a deposit? Is the deposit per pet, or does it cover all of them? Do they have a limit on how many cats or dogs you may own? You also want to consider the space size and if it can accommodate the breed of pet you own. Lastly, be sure your dog breed is allowed on the premises; many rental properties, especially apartment or condo communities, exclude dogs based on breed or weight.
Budget Business
When trying to figure out how to rent an apartment for the first time, a common mistake first-time renters make is overestimating how much they can afford to spend on rent. The generally accepted golden rule is you shouldn’t spend more than 30% of your gross income on rent – even if you’re in an expensive city, you should do your best to keep your housing expenses under 30%, whether that means taking on a roommate or picking up a side hustle to offset your living expenses the budget business is one of the essential pieces of your checklist.
Spotting Scams
These days, scams are everywhere, even in the rental market! While you may feel like looking online is easy, it’s never a good idea to rent an apartment sight unseen. Over 5 million American renters have fallen victim to rental scams, so look out for your best interest, tour apartments in person, look over the fine print and ask tons of questions before signing a lease.
Avoid Parking Problems
Suppose you live in a large metro area and use public transportation, walking or biking. In that case, this doesn’t apply to you – however, if you commute, considering the parking situation of your rental is paramount. You’ll need to consider whether you need a covered space assigned parking or if on-street parking is available and safe. It would be best if you took into account your comfort level on these things when considering the parking situation. It’s also a good idea to review your car insurance policy and ensure you’re covered for any potential issues. Ask your insurance company if your rates could go up or down depending on your new parking situation.
Which Amenities Matter
Amenities are one of the best things about renting because they often don’t come with home ownership. Depending on where you live, different apartment complexes prioritize different amenity options, from swimming pools, fitness centers, balconies, on-site laundry, and so much more. Outdoor amenities are just as important, especially if you have a dog and need a comfortable place to walk or are searching for an apartment that has an enclosed dog park. Amenities are an excellent way to enhance your life without spending money on things like gym or pool memberships.
Apartment hunting isn’t for the weak, but it can be less stressful if you include the above items on your checklist. Again, ask plenty of questions and don’t settle for something that’s not the right fit or goes beyond your budget. Good luck!
