Did you know that 37% of renters live in apartments?
Renting an apartment for the first time is a huge milestone. However, whether you’re renting an apartment or a full home, there’s a lot to keep in mind before and after you sign your lease.
So, how can you make your first rental experience a great one? Luckily, you can manage it with some simple tips for first time renters.
We’re here to help you out. Keep reading below for the ultimate guide to renting for the first time!
- Consider Renter’s Insurance
Some property managers require renter’s insurance. However, it’s worth considering even if it isn’t a requirement.
Renter’s insurance generally protects all of your belongings from theft, fire, water damage, etc. It often also covers temporary housing if the rental property becomes uninhabitable.
- Be Mindful of Your Security Deposit
Most renters are required to pay a security deposit, but not all of them get that deposit returned at the end of their lease. If your landlord deems your apartment has been damaged since you moved in, they’ll likely keep all or part of your security deposit.
The easiest way to avoid this outcome is by staying on top of property maintenance and cleanliness. If an issue arises, like a leaky faucet, contact the maintenance staff immediately. Check out this guide from SYK Cleaning to learn how to clean your unit at the end of your tenancy.
Another way to ensure you get your security deposit returned is by taking photos of the property as soon as you move in. If your landlord points out any damages to the apartment at the end of your lease, you can use the photos to determine whether the damage existed before you moved in or not.
- Learn the Parking Policies
If you own a car, it’s best to consult with the management before signing your lease. It’s important to know what the parking policies are in order to avoid breaking any violations.
Ask your property manager whether there’s a parking lot or a nearby parking garage. If only street parking is available, consult with the manager on the best time to move in.
- Manage Your Utilities
First time renters often forget that they’ll have to manage their utilities. Luckily, many landlords tend to pay for one or two of the utilities.
Be sure to read property listings as well as your lease thoroughly to learn which you’re responsible for. Ask your landlord which utility providers they recommend and which the other tenants use if you’re feeling lost.
Everything First Time Renters Need to Know
First time renters often feel overwhelmed by all the factors that go into renting a property. Each location, lease, and landlord is different. However, with the tips above, you will navigate your first renting experience with no problem!
Looking for more? Check out the rest of our website for more real estate guides and tips!