Are you a first time renter? Not sure where to start?

First time renting?

 

Are you a first time renter looking for an apartment? Curious where to start and what you’ll need? Here are some tips to make your first renting experience a breeze! Please keep in mind that you need to be at least 18 years of age.

 

  1. If you do not have rental history you will most likely need a cosigner. Much like getting your first car getting your first apartment can be a big step and landlords just want to make sure you are ready. We understand that everyone has to start somewhere and that is why we offer having a cosigner. Begin thinking about who you may have that would be willing to cosign for you. Talk to this potential cosigner and explain what it means to be a cosigner.
    • Cosigner: Cosigning for an apartment is much like cosigning for a car. The cosigner will need to put in a rental application as well and meet the rental criteria. The biggest thing that I look at in a cosigner is that they make 3x the rent amount and that they have a credit score above 600.
  2. Make a budget for yourself. Make sure that you can afford the apartments you are looking at and understand that this is your first apartment. You will most likely not be there forever- but you have to start somewhere. Most landlords will want to see that you have at least 3x the income of the rent. (If the rent is $100 a month we want to see about $300 a month coming in).
    • Figure out the costs of utilities-what is included and what is not included. Ask the average cost of the utilities that are not included. BUDGET HIGH! This will make sure that you are never surprised with a bill.
      • Internet/Cable
      • Electric
      • Heat- what kind of heat is it? Oil, propane, electric?
  • Hot water- is it electric?
  • Cold water/sewer
  • Lawn care
  • Snow removal
  • Trash
  1. Set up a time to view some apartments. Sometimes it’s helpful to bring a family member or friend to the showing with you. Make a list of questions to ask during the showing.
  2. Fill out the rental application. Be TRUTHFUL on your rental application. This is very important.

 

Photo by Bench Accounting on Unsplash