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How to Rent an Apartment for the First Time
1. HOW TO RENT AN
APARTMENT FOR
THE FIRST TIME
Jason Cohen Pittsburgh
2. There are certain benefits to renting an
apartment instead of buying a home,
including free maintenance, access to
communal facilities and no long-term
commitment. However, it's important for
prospective tenants to choose the right
apartment. The following tips can help
first-time renters select the best apartment
for their needs.
WHY RENT?
3. SET A BUDGET
Prospective tenants should first
set a budget by determining
exactly how much they can afford
to pay in rent each month.
According to Quicken, a good rule
of thumb is to pay no more than
25 percent of income before tax
on rent. However, this estimate is
a suggestion, not a hard-and-fast
rule; if a tenant has other
significant monthly expenses, they
might be better off choosing an
apartment that costs well under
25% of their total income.
4. CONSIDER
LOCATION
The location of an apartment will
affect the cost of rent,
accessibility to other businesses
and the tenant's daily commute.
Apartments outside of the city are
usually cheaper than those within
the city, but this can also make
daily commutes longer. Therefore,
prospective tenants should choose
an apartment that's within a
reasonable driving distance from
their place of work.
5. LOOK AT MANY
APARTMENTS
When searching for their first
apartment, prospective tenants
should look at least five
properties. Even if one apartment
offers all the right amenities and
is within the tenant's budget,
others may offers better features
at an even lower price. The only
way a prospective tenant will
know, however, is by considering
multiple properties.
6. CONSIDER
SECURITY
How secure is the apartment
complex? Prospective tenants
should consider security features
like perimeter fencing, gates,
video surveillance, patrols and
alarm systems.
7. WHAT ABOUT A
ROOMMATE?
To help offset the cost of living in
an apartment, prospective tenants
should consider getting a
roommate. Assuming it's allowed,
this can reduce the cost of reduce
the cost of rent by up to 50
percent. If a tenant decided to get
a roommate, though, he or she
should carefully vet the person to
ensure they are capable of paying
their share of the rent and
utilities.
8. REVIEW THE
LEASE
Arguably, one of the most
important steps in renting an
apartment for the first time is
reviewing the lease agreement.
This is the legally binding
document that explains the terms
of rental. When reviewing the
lease agreement, prospective
tenants should look at the
duration, security deposit and the
fee for breaking the lease.
9. THANK YOU!
J a s o n C o h e n P i t t s b u r g h . n e t