Rent an Apartment
Renting your first apartment might not be easy, but definitely will be a good learning experience. To make it easier and to give you an overview on what are you trying to do, here is first a brief overview of the renting process, then we will look at the details by breaking down each step some more.
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Define your needs: what size of apartment are you looking for (studio, 1 bedroom, 2 bedroom or more), what extra services etc. |
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Search: look and find the right apartment for you. This might not be easy especially in big cities. It might take even weeks. But keep searching and you will succeed. |
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Submit your application: once found a good prospect apartment, fill out an application and apply for it. |
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Move in: if your application is approved and you agree and accept their terms, sign the lease contract and move in. |
Let's go into more details.
1. Defining your needs
This is probably easy in most of the cases, as most people lived somewhere before so they know what they want. Additional aspects on picking up the right apartment might be related to how far the complaex is from your job, from main shopping centers, if you have kids how far is from schools.
2. Searching for the right partment
There are several ways to start looking for an apartment.
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Personal references: friends might now apartments which are suitable for you. |
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Newspaper: this is still the most widely used advertesing medium. The Sunday edition of your local paper has a thick real estate and renting section. Browse for it. Most ads are fresh. You can get good deals from small complexes or physical persons who have a house to rent. |
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Supermarkets, grocey stores very often have at the exits free newsletters and classified ads publications which can be a good source to find an apartment. |
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Driving around in the neighborhood: if you are moving in a relatively small town you can drive around in the neighborhood in a few miles area and look around. You will find apartment complexes. You can go in, ask about vacancies, prices and even you can get an application. If the office is closed write down the phone number and call them next day and ask your questions. |
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Internet: I think the easiest and fastest way is online by the use of the internet. Usually I start this way. There are several big sites specialized in apartment renting. |
Some of the obvious advantages of searching online is that is fast, and in just a matter of minutes you can find a wealth of information. You can find adresses, phone numbers, price information, size and square footage of apartments, services offered by complexes etc. Many times you can view photos or videos about the complex and about the interior appearance of the apartments. This way you can pre-screen the available complexes, and form in advance a pretty good idea on the local market and its prices.
Limitations of the online search is that you can only do this if you have a computer and online connection, which many people don't have. And you can still miss good deals which you can find inthe newspaper and are not listed online. Many small complexes or ordinary persons who have just an apartment house for rent don't advertise on the web.
Which sites I recommend to start looking at for apartments? Well, I use most of the times http://www.forrent.com/search/ It is one of the few websites which allows you to make searches based not only a wide variety of search criterias (location, but you can search based on zip codes only. This is very convenient if you want to find an apartment in a limited neighborhood. In the US the zip codes (postal codes) define a quite small area, usually not more than a few blocks. Thus searching based on a zip codes only is the easiest way to find something in a few blocks ditance. Plus the site offers a wide variety of information about each selected complex, you can specify the number of rooms, number of bathrooms, maximum price level and other parameters. With the usage of this site alone I rented apartment at least 3 times.
Another good site is http://www.apartments.com/ This a good place to look for short term lease. If you are moving temporarily in a location and looking for complexes with montly leases, this is a good place to look for.
Whichever apartment you pickup it is important to do two things at this point:
1. Call the complex and ask a set of preliminary questions:
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What kind of vacancies do they have available? They might not have the 2 bedroom, 1.5 bathroom you are looking for. |
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How much is the monthly rent? |
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What amenities come with the apartment (like refrigerator, microwave owen, dishwasher, washer, dryer, fireplace, ceiling fan, garbage disposal etc.) |
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What utility costs are supported by the complex? Quite often you don't have to pay for some of the utility cost including water, garbage fee, electricity, heating and air conditioning, gas etc. because it's included in the monthly rent. Make sure you ask about this. |
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What facilities the complex offers? (like covered parking, CATV, garage, balcony, extra storage place, laundry facility, clubhouse with computer and internet access, pool, spa, sauna etc.) Which of these is for free? |
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Which is the minimum lease period you should commit yourself to? This varies drastically from community to community. Sometimes they require to sign up for a year, sometimes for 6 months, sometimes you renew your lease month by month. Obviously if you plan to stay in one place for a shorter time you are not looking for a complex which requires from you a full year commitment. |
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What is the penalty if you move out earlier? Many complexes penalise you if breaking the lease agreement and moving out earlier. Sometimes you lose your security deposit, sometimes you have to pay a full month rent fee, or even more. Ask about it before you apply. |
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What are the move-in costs? (which is composed ofthe firts month rent, plus security deposit, plus other fees you might pay before you move in). this refers to the total amount of money spend to move you in. |
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Do they have a pet policy? Some communities accept pets, others don't at all. Some communities accept only small pets, like cats and dogs up to a certain weight, others have no limits. In some cases you will have to pay an extra rent for your pet, or just have a non refundbale fee. There are many variations, and if you have a pet be sure to ask about it. |
2. Make a physical inspection of the neighborhood and the apartment
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Check the apparence of the neighborhood. Drive around the complex, drive in every direction a few blocks and look at the neighborhood as a whole. How are the houses? Who are the people who live here? What cars you see? Is the grass cut in the yard? Any sign of erosion? Any graffittis on the walls? What feelings the neighborhood generates in you? |
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Check the complex the same way. What feelings generates in you? Does it look and feel safe? |
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Even if the price is right and the neighborhood looks OK, always insoect that particular apartment you want take. Check the external appearance. Check from inside the painting, the amenities. Is the carpeting clean? Any smells in the apartment? Any spots? Everything looks right? |
If the look and feel satisfies you, can ask for an application, fill it and submit it. If you will rent the apartment with your wife it is a good idea to take her with you becaus eshe will need to fill out and sign her own application.
3. Submitting your application
Things you will need in order to submit an application:
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Application form: every person above the age 18 who intends to live in the apartment must fill out an application form. Every apartment complex has its own dedicated set of forms, but the information you fill out on these are mostly the same. These include most or all of the information below. |
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Personal information: your name, phone number, drivers licence number, SSN |
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Rental history: in America most management companies will check your previous rental references. If you rented before, give that information. If you didn't give the address of your friend where you lived before and ask him to serve you as reference if the management company will call him. |
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Employment information and history: in order to ensure proper quality tenants, and to insure you can afford the apartment, the management company might check the prospective tenants employment background. If you attach enough employment and income evidences to your application in form of a few recent paystubs, it will be enough. |
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Financial information: can include the name of the bank you have accounts, the type of the accounts you have, credit cards you have, major loans and obligations etc. This helps the management company to have a clearer picture of your financial background. Usually they don't call your bank and check your financial information. |
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Credit check fee: when you apply for an apartment they will run a credit check on you. The credit check fee varies, itis usually about $25 per person or $40 for a couple. All the persons who intend to live in the apartment will have to have their credit checked. Usually they won't accept cash just money orders. |
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Proof of income: usually your last few pacheck stubs. As a rule of thumb, your monthly income must be at least 3 times higher than your monthly rent to qualify. |
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Your ID or Drivers Licence |
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Social Security Card is often required |
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Sometimes a holding deposit. Some companies in order to process your application might request a deposit. Now if you don't qualify and your application is not approved you will get your deposit back in full. However if you qualify and change your mind and decide still not to move in, you will lose your holding deposit. If youdecide to move in the holding deposit will go toward the first month's rent. |
4. Moving in
Once approved, you should find out:
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What your new address is? |
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What your total move in amount will be. Usually you pay the first month's rent in adavance plus a security deposit. The security Most properties charge security deposits of $75-$300. Security deposits are refundable upon move out. Check with the apartment deposit usually is about another month worth of rent, depending from complex to complex and your credit history. The first months rent plus the security deposit together total your move-in cost. |
Also get familiar with the rules of the house, including:
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Rent payment: usually the rent is due between the 1st and 5th of the month. For late payments you will be charged a fee, a certain percentage of your monthly rent. If the rent is not paid by the 10th of the month the management company will make the necessary steps to evict you. |
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Parking rules and regulations |
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Lost key replacement fees, or lockout charges after business hours |
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Pet policy and pet deposits |
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Emergency maintenance services, whom to call if you need them |
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