Searching for the perfect apartment can be exciting but highly stressful. Whether you’re moving out for the first time or looking for something new, having a plan can significantly simplify the process. To help you on your journey, we’ve put together this apartment hunting guide to ensure a smooth transition.
1. Set Your Budget—And Stick to It
Before you begin apartment hunting, you’re going to need to know what your budget is. Although a rooftop apartment with a stunning view may sound fantastic, it’s important that you live within your financial means and don’t spend your entire income just on rent. Plus, renting comes with additional expenses such as utilities, deposits, and parking fees that you’ll have to consider when applicable.
By creating a budget and sticking to it, you can find an apartment you can live in while still having additional income to put towards other areas, such as saving for a down payment or investments. If you live in a high-cost area and find your budget too low, consider finding a roommate to help split the cost.
2. Determine Your Must-Haves
After you have your budget, it’s time to list your must-haves. Maybe you need a designated parking spot, have a pet that will move in with you, or maybe you just really want a balcony. Regardless of what you want your apartment to have, knowing these basic features will help you quickly eliminate choices you aren’t interested in while apartment hunting. When making this list, you may need to go back and adjust your budget accordingly to reflect your must-haves.
3. Choose the Right Location
Now that you’ve completed your budget and list of must-have amenities, it will be much easier to find which neighborhood best meets your established criteria.
When selecting which area you will be apartment hunting, consider additional amenities that are nearby that work with your lifestyle. For example, if you don’t own a car, living next to a public transportation hub or downtown may work better than somewhere on the outskirts of town. If you’re moving to a city that you’ve never lived in before, it’ll be best to do some prior research to ensure you move into a neighborhood you will enjoy living in.
4. Always Schedule a Viewing—And Ask Questions
Although apartment listings will include photos of the unit and a list of amenities, you shouldn’t take this information provided as the complete truth. It is possible for rental management companies to reuse original photos of units or leave out information that may deter applicants. Plus, rental scams are an unfortunate part of apartment hunting, so you want to do your best to avoid becoming a victim. Always schedule an apartment tour before committing to a place to avoid any unwanted surprises. Sure, Google Street View is a good way to scope out an area, but it doesn’t always provide the complete picture. When scheduling viewings, always start in the morning and give yourself plenty of time so that you can be thorough.
During your scheduled viewing, don’t be afraid to ask questions. Questions about the leasing agreement, building maintenance, repairs, and utilities will not only provide you with a clear picture of what to expect but also help you eliminate apartments that aren’t all they’re made out to be.
5. Take Photos During Your Visit
If you’re touring multiple apartments during your search, don’t forget to take photos. You may think you’ll remember every detail, but it can be easy to forget some things after a couple of tours. By doing so, you’ll be able to quickly reference which you liked best once you’re reviewing your options.
6. Prepare Your Documents and Deposit
Once you’ve narrowed your list of apartments to one, your next step will be applying for the one that best suits you. As you prepare to apply, gather all of the required documents and information you’ll need to apply. Most rental companies will typically ask for proof of income, credit score, rental history, if applicable, and references. Having this information ready will allow you to quickly submit your application, increasing your approval odds.
Before you move in, your landlord will typically require you to pay your first and last month’s rent alongside your security deposit. Since this will likely be a large amount, be sure to have these funds available once you enter the application process to mitigate any delays.
6. Understand the Leasing Agreement
Okay, so you made a budget, found the perfect apartment, and got approved…so time to sign, right? Not exactly.
Before you sign, always read the lease in full and make sure you understand it. This is when you’ll need to check to ensure everything you and the landlord agreed upon is actually stated. Double-check the rental term, any utilities that may be included, and the agreed rate. It may be tedious, but this step is the most important to ensure you are getting exactly what you’ve been promised.
7. Document Conditions and Move-In
Before you move your furniture in, we recommend performing a walk-through and taking photos of the apartment’s condition. This will come in handy if you need to dispute any damage that was there before moving in once your lease is over. Should you need to contact your landlord for any repairs, having photos showing any damage before you moved in will prevent you from taking the blame.
8. Don’t Forget About Renters Insurance
When you live in an apartment, your landlord will cover the cost of repairs in the unit and the building’s structure. But how do you protect your personal property inside? That’s where renters insurance comes in. Renters insurance will cover your personal property inside of the unit from covered perils, such as theft, vandalism, fire, and natural disasters. Renters insurance also has liability coverage, providing financial aid if someone injures themselves inside your apartment. Some landlords may even require you to purchase a policy to rent their unit. However, even if it isn’t a requirement, buying renters insurance is a smart option due to its low cost and added benefits.
At AIS, we partner with trusted insurance providers to offer our customers reliable renters insurance policies without breaking the bank. Our team of specialists can guide you through the process and help you find a policy that best works for you. To find which coverage options are available, call us at (888) 772-4247 or start a free quote online.
The information in this article is obtained from various sources and offered for educational purposes only. Furthermore, it should not replace the advice of a qualified professional. The definitions, terms, and coverage in a given policy may be different than those suggested here. No warranty or appropriateness for a specific purpose is expressed or implied.
