Advice for First-Time Renters

Being a first-time renter is a huge milestone, but it does not come without lots of new responsibilities. You will have more freedom living on your own, but you will also have new expenses, such as utilities, that have never been your responsibility before. Make your first renting experience a great one by following these tips:

Budget Wisely

Start saving for your first rental by putting together an apartment budget. One rule of thumb is that no more than 30% of your after-tax income should be spent on rent. Consider any move-in fees and other additional fees. Include your monthly expenses and always save up for unexpected costs. If you aren’t sure if you can handle all the expenses on your own, consider getting a roommate, which will allow you to split your bills in half.

Consider Your Needs

Consider your needs before your wants when planning your apartment search. For example, if you don’t have a car, you will need an apartment close to public transportation. If you have a pet, you will need a pet-friendly apartment complex. Your wants are things that you desire but can live without, which are usually amenities like a swimming pool or an en suite. Base your apartment search off your needs, and consider it a plus when an apartment has your wants. 

Schedule a Tour

Online apartment tours are a convenient tool that can help make your search much easier, but a walking tour will give you a much better feel of the actual place. Schedule a tour to get a sense of the community, layout, and amenities. Come up with a list of questions to ask during your tour based on things that are important to you, such as guest parking or quiet hours.

Utilities

Some apartments come with included utilities, but others do not. Consider this during your apartment search as it can affect your budget. Ask your property manager about utilities that will be added to each rent payment. It is common to have to pay some one-time fees when setting up your utilities account.

Parking

Inquire about the parking situations at each apartment community you are interested in. Ask where visitors park, whether or not there are assigned spots for renters, and how full the parking lot tends to get in the evenings. 

Read the Lease

You may be tempted to rush through the signing process due to all the excitement of finally living on your own, but be sure to read through the entire lease before signing. If you and the property manager agreed to something that is not written in the lease, they may not be legally required to follow through. Address any concerns that you see and request a copy so you can refer back to it when needed.

Wilson Property Management

Make the most of your time as a tenant with Wilson Property Management. We seek to offer a hands-on management approach to our owners by protecting their investments and enhancing the value of their property. We strive for “property management, leasing, and sales with a personal touch.” Contact us today!