For Millenials, renting an apartment has become a rite of passage to adulthood. It gives an odd sense of freedom but also comes with a lot of responsibilities and considerations. Now you are no longer in your parent’s home; you are going to live alone and enjoy all the liberties as well as perils that come with it. Most people prefer to rent an apartment since it is cheaper than actually buying one, and due to the abundance of rental properties, you can choose from several options.
However, before renting an apartment, certain considerations need to be thought over properly, such as the terms of the lease, location of the apartment, and the expenses, of course. Knowing what to consider before renting an apartment could significantly improve your search and also help you find a better place in a shorter time. Read on to know more.
Decide on your budget wisely.
For renting a place, usually, you have to pay a certain security deposit and then submit rent monthly. When you consider renting an apartment, don’t just consider this fee which is paid upfront. Long-term expenses should also be considered- gas, electricity, internet services, telephone services, groceries, water bills, trash expenses, and other miscellaneous expenses, definitely not a small amount if combined. Therefore, choose your budget range accordingly.
2. Be ready with all the paperwork from your end
Any property manager or landlord will want verification of your status and nationality before renting out to you. It will be a good idea to keep copies of important documents like your bank record, your citizenship proof, your work permit, and all other important legal documents with you at all times so that you can promptly hand them over to your landlord or property manager if they ask for these.
3. Be very careful about the lease terms
The lease terms will invariably have some legal jargon that might be difficult for you to interpret. In this case, always clear this with your property manager or landlord. Most importantly, always take your time to read through the terms properly and ask as many questions as you need to clarify what you are signing up for. Sometimes, landlords passively force tenants into signing away to unfair terms, so if you think you are being forced, then it is a good idea to read through the term with more caution; of course, there might be areas where you have disagreements with your landlord, such as curfew timings. In this case, try to negotiate with an open mind.
4. List what you really need in an apartment
Do you need a fancy corner where you can read and enjoy the view? Or do you need your kitchen to come with a microwave oven? It would help if you listed down your absolute basic needs in an apartment and then expand that one by one. This way, you will save money and also get only what you need. Before renting an apartment, only think about the bare essentials, since the more items you take or look for, the more money you will have to pay.