Things Every First Time Apartment Renter Should Know

May 9, 2014 by

You have achieved a pretty good job, saved up money and ready to become a first time renter. Good for you! However, if you want to branch out on your own successfully, there are a few things to consider. You should remember that moving out on your own requires to you pay bills on time and save money to ensure you can cover rent each month. This means that beyond just having to find the ideal Apartments for Sale in the San Francisco Bay Area, you also have to ensure you can afford what you choose.

Create a Budget

It is important that you know what you are able to pay up front in terms of rent. Ideally, your rent should make up no more than 30 percent of your total income. In the majority of areas, there will be no grace period for paying rent, which means you need to be certain you can afford the cost each month.

Make a Great First Impression

It is important that you make a great first impression on your landlord. The fact is that the rental market is competitive, which means when you are ready to rent, you should bring all of the important paperwork you need, including:

  • Proof of income and employment dates as well as contact information for at minimum one reference.
  • Proof of a bank account with demonstration of financial planning by having a minimum of three months’ rent covered.
  • If you have a cosigner, bring them along.
  • Gather contact information for at minimum two character references.

The majority of this information will be used for filling out a rental application, which will allow a landlord to conduct standard credit and background checks.

There are some situations where you will be required to pay for the credit checks, which usually range from $10 to $50. The landlord is only able to legally charge these fees if they plan to actually run the credit check. Be sure to obtain a receipt for any rent, deposits or fees that you pay.

The Apartment Lease

The lease that you sign with your landlord is considered legally binding. You should be sure that you fully understand what is covered in the lease agreement. If you are unsure about what something means ask for clarification from the landlord or a lawyer.

Acquiring your first apartment is exciting; however, if you are not careful you may find that you are unable to pay the rent, or not sure of the terms of the lease. Using these tips, any first time renter can feel confident.

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