Your time has come and your dreams are finally coming true; you are about to make your first step into the real world. For most of us, that first step means renting your own apartment. There are several things you should carefully consider before signing a lease or a rental agreement. Even if you aren't a first time renter, there are tidbits of useful wisdom for you to discover here.
The first question you should ask yourself is whether or not you can really afford it. The answer lies not in the emotional high that you get from being on your own, being responsible, self-reliant and finally free from well meaning free-advice givers. No, you have to crunch your financial numbers on your own to find the answer to this question. You know, sit down with a pencil, paper (or spreadsheet), and figure out just how much you can afford to spend on food, utilities, transportation, personal necessities, clothes, entertainment, and last of all - rent.
If you have done your homework and created a realistic budget that you can live with, then the next step is to consider the pros and cons of your dream apartment. You've probably gone through a dozen or so different apartment listings and determined that there is only one choice and it's going to be right for you. You've made up your mind that your'e going to call it home for the next year or so and now it's off to pay a visit to the premises and see just how well they measure up. In other words, this is where apartment reality meets your ideals for living large on a budget.
So what are some things that you really need to consider. First, how about safety and security? Ask the landlord or property owner about whether or not the apartment has an on-site manager, or what security features are included. How about the maintenance system: how are repairs and emergencies handled and who is responsible for making repairs when you need them? How old are the appliances and are they clean and in good condition?
Next, you already know that you should ask about the cost of air conditioning and heating, cable TV and telephone service, parking, and transportation, but remember to also ask about having an on site laundry with driers and any other amenities. You know, just like mom's laundry, but now you're going to handle it and you want the best.
If you're satisfied with everything to this point, it's time to take a look at the apartment. There are a few tips to keep in mind when making the nickel tour. Look carefully at the appearance of the building, the parking lot, the passageways, stairways, garbage collection area, and laundry room. These are common areas that you will frequently visit on your way into or out from the apartment. Are they clean, well lighted, and are all fire extinguishers and smoke alarms in place? Are the doorways free from any obstructions and are windows maintained and secure from the inside? Is there any sign of vandalism, gang activity or neglect by the owner? If the building and the apartment itself passes your inspection, then you are close to making an informed decision to rent.
Before you make the commitment and sign on the dotted line, however, you should ask about the security deposit and the owner's policy on returning it to you. There should be clear language in the lease or rental agreement form. Be sure that you fully understand the conditions under which the property owner will return your deposit money to you when you move out. Security deposit money is your money being held by the property owner in an escrow account. You are entitled to having it returned to you in full if you haven't neglected to pay your rent and haven't damaged the premises. Be sure to ask questions and be satisfied with the answers.
If you've made it to this point, congratulations. You're well on your way to renting your first apartment. Last but not least, however, one more extremely important consideration. Renter's insurance. Now you're probably thinking that you don't need it and it probably costs too much for your budget. Go back and figure it in. You do need it and you definitely should have it. The property owner's insurance doesn't cover damage or losses to your possessions, that is your responsibility. It probably even says so in the lease. So get three quotes and make the best purchase you can. Discuss it with your personal financial advisors, if you must, be don't neglect having renter's insurance.
This information should help any first time apartment renter determine if they are financially ready to rent, what to consider for safety and security, what features make the difference between a nice apartment and a dream apartment, some insight into security deposits and the importance of owning a renter's insurance policy. Making the decision to rent your first apartment will be a painless process when to apply this information to making your decision. Go ahead and sign that lease, live large in your dream apartment, you deserve it!