5 tips for renting for the first time

The first time you rent is an exciting experience. While you can’t wait to enjoy the freedom that comes with your first apartment or home, remember also that you will take on more responsibilities. With this first checklist you will make sure that you do not have any problems and can enjoy your first apartment with peace of mind.

Make a budget

Before moving into a new apartment, you need to budget to detail how much you can afford to spend on rent, décor, utilities, and more. Make sure your rent and utilities do not exceed more than 30% of your gross income. If it is higher, it will be difficult for you to keep up with your payments.

Visit the apartment before renting it

It is very easy to take advantage of technology to make virtual visits of the places for rent. However, you should always see the property in person before living there. So when you visit, turn on the taps, test the air conditioning and heating, and check the appliances. Also, pay attention to the general environment. Is there a lot of noise outside or is it quiet? Are the neighbors friendly?

Read the lease

Tenants have a bad habit of signing their lease without reading it carefully. It does not matter if it is the first or the tenth time you rent, you should take the time to read the entire contract. It contains essential information about your rights and obligations as a tenant. Once you read and sign it, make a copy and keep it.

happy couple sitting in their new rental apartment watching a tablet

Use a rental checklist

It is common for people who rent for the first time to forget to make a checklist the first time they visit a property that you are interested in renting. If your landlord doesn’t provide you with a rental inventory or checklist, bring your own with separate sections for each location or room. Write down the condition of:

  • Floors
  • Walls
  • Roofs
  • Doors
  • Windows
  • Displays
  • Curtains or blinds
  • Closets
  • Light accessories
  • Power outlets and light switches
  • Spotlights

Keep your rental checklist in a safe place so you can see it before you move in.

Take out rental insurance

This is one of the most important tips when renting an apartment. Rental insurance will cover you if your belongings are stolen or destroyed in a disaster, such as fire or flood. While homeowners insurance will cover the structure, renters insurance will cover your things. In addition, the policies are relatively cheap and you can adjust them to your budget.

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