Moving out and renting a place of your own for the first time can be daunting. Whether you are leaving your parent's home for your first apartment or simply getting a new start, there are a lot of things to consider when renting a property for the first time. This guide lists a few things to know before jumping into the rental market.
WHAT CAN YOU AFFORD?
One of the biggest mistakes that first-time renters make is not knowing what they can afford. Having a budget is essential when you’re renting for the first time. You don't want to have difficulty paying your rent each month.
A good rule of thumb is to spend no more than
30 percent of your income each month on rent. Another thing you may want to consider is getting a roommate. Renting for the first time is often easier when you have someone else to share the costs with.
YOU HAVE OPTIONS
Another thing that you should know when renting for the first time is that you have options. It's important to remember that you are not limited to just one type of property. While a traditional apartment may be the first thing that comes to mind when looking into renting, houses are also a great option.
Before making a decision on where you want to live, looking into various rental properties is always a good idea. If you enjoy living in a community setting, then an apartment may be the right option. However, if you want a yard or more space, a rental home may be the better choice for your needs.
WHAT ARE YOUR REQUIREMENTS?
When renting for the first time, you need to know what your requirements are and whether or not the apartment or house you are interested in meets those requirements. Here are a few things that you need to keep in mind:
- Pets. Do you have a dog, a cat, or another type of pet? Do you plan on getting one in the future? If so, you will need a pet-friendly rental.
- Furniture. Do you have furniture? If so, it's important to make sure that your furniture will fit into your new space. If you have large furniture, an open concept living space may work better for you than a rental with smaller rooms. Make sure you measure your furniture and your rental before moving in.
- Space. What are your storage needs? You should also consider the square footage and storage when choosing a rental. You want to make sure that your new space has enough room for both you and your possessions.
- Location. One of the most important requirements that you may have is location. When choosing your first rental, you will want to ensure that your potential home is located in an area that is convenient for you, whether that means being close to family and friends, work, or school.
Keep your requirements in mind when choosing your first rental. It may take some time to find a rental that works with your lifestyle but it's worth it to find the right space.
IS COMMUNICATING WITH YOUR LANDLORD EASY?
As a first-time renter, you may find that you have a lot of questions. Communication with your landlord is key when renting. Don't be afraid to ask questions if you need to. A few questions that you may need to ask include:
- How much is the deposit?
- What day of the month is rent due?
- How do I pay rent?
- How do I turn on the utilities?
- Do you allow pets?
Asking questions will only improve your renting experience and help you feel more secure in your decision to move into a property.
If you need help finding a rental, our experts at Montgomery Realtors can help you find a place that suits your needs.
Contact us for more information on our rental properties.
