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So, you’re ready to move out. You’ve explored Zillow listings, clicked through photo galleries, and read reviews of a million places all over town. You can picture it now: your first apartment, your own space, your next big step. But… Now what?
Taking the plunge into renting your first apartment is an exciting step toward independence and a space to call your own. With a little planning and research, you’ll be well on your way to finding a place that fits your lifestyle and budget.
Here’s how to get started:
The rental market can be tricky to navigate, especially for first-timers. From listings that sound too good to be true to pages of fine print in a lease agreement, the process has its challenges. Working with a broker is a great way to lean on a professional to ensure your apartment search is successful.
+ Better with a Broker: A broker is a licensed professional who helps people find apartments or homes to rent or buy. They have access to listings, know the ins and outs of the market, and can help guide you through the process. In many areas, you can work with a broker to find an apartment at no cost to you.
+ Work with someone you trust: It’s important to work with a broker you trust. Brokers have a deep understanding of the city, as well as familiarity with reputable management and ownership groups. This insight can be key to ensure you don’t sign a lease that you’ll later regret. It’s better to hear honesty from your broker to avoid issues later.
+ Avoid scams: Make sure you research your brokerage before working with a broker – you’ll want to ensure that the person you’re renting with is legit. Once you’ve found that perfect partner in your apartment search, they can also be a great resource in sniffing out scams. Be wary of listings with prices that seem significantly lower than comparable units in the area.
+ Understand your lease agreement: Your lease is a roadmap for what’s expected as a tenant. Does it include utilities? How do you pay rent, and when is it due? What happens if you need to break the lease? Read everything thoroughly, and if something doesn’t make sense, ask. Your broker can help you interpret the legal jargon and help you understand what to expect when you move in.
+ Do your due diligence: Scan ILS sites such as Zillow or Apartments.com to view all of your potential options. Filter by price and location, and don’t be afraid to explore – you might find a hidden gem in a neighborhood you weren’t initially considering. Once you’ve found buildings that pique your interest, check out the reviews to hear from current and former residents.
Setting a realistic budget is the key to making your first apartment a success. Here’s how to plan:
+ Rule of Thirds: Common wisdom states that you should spend no more than 33% of your gross income (before taxes) on rent. This guideline is supported by research and expert insight, and is best practice to ensure you are not overspending on a place you can’t afford.
+ Location matters: A cheaper apartment further out might mean higher commuting costs, or you might have to spend more money on gas or getting your car serviced. A closer spot might save time and money on transportation, but demand higher rent or parking payments each month. Consider the trade offs as a part of your 33% rule.
+ Roommates or cosigners: If your budget’s tight or your credit history isn’t established, consider splitting the cost with a roommate or enlisting a cosigner. The requirements for cosigner eligibility often differ from city to city and even building to building – make sure you inquire about cosigner requirements when you are exploring your options!
+ Think long-term: Your expenses aren’t just the initial costs. Each month, you’ll be responsible for additional fees or bills that are important to consider. Here are some common items to budget for:
+ Upfront costs: Application fees, administrative fees, security deposits, moving truck rentals, and new furniture.
+ Recurring costs: Rent, utilities (electricity, water, gas), internet, phone, parking, laundry, and transportation.
Before you start touring apartments, make a list. What features are must-haves? What’s nice to have? And what are your absolute dealbreakers?
+ Needs: These are non-negotiables, like being within a certain commute to work or having access to public transportation.
+ Wants: Features like hardwood floors, a gym, or a private balcony might fall into this category.
+ Dealbreakers: If you can’t live without central air or in-unit laundry, or can’t tolerate a pet policy that bans your dog, add it to your list!
Being clear about these categories will help you narrow down your options quickly. An experienced broker will help you work through these lists, ensuring your needs are met!
Pictures can sometimes be deceiving, and 3D tours only go so far. Always visit an apartment in person before signing a lease if possible. Take your time to:
+ Check the overall condition of the unit and building.
+ Test things like faucets, light switches, and appliances. (Pro tip: If you enjoy long, hot showers, always check the water pressure and the water temperature to make sure your apartment can accommodate the showers of your dreams)
+ Scope out parking, laundry facilities, building security including mail and package receiving, and the surrounding neighborhood.
If you are moving from out of the city or state, or don’t have time to visit the apartment in person, your broker can help you out. Many brokers will walk you through virtual tours via video call to give you as accurate of an impression as possible. This is why it is so important to work with a broker you trust – if they’re your feet on the ground, you want them to tell the honest truth about what they’re seeing.
Remember: there are no dumb questions. Ask about everything, from building security to maintenance response times.
The work isn’t quite over once you’ve signed your lease. Moving your belongings can be a bit daunting, but a little planning goes a long way toward protecting your stuff (and your sanity).
+ Hire professional movers: If you decide to splurge on movers (instead of borrowing a friends’ car or renting a U-Haul), look for companies that are licensed, insured, and bonded. It’s worth the peace of mind in case something breaks or goes missing during your move.
+ Reserve elevator and dock time: Most apartment buildings require you to schedule your move-in window. Coordinate with building management early so you’re not stuck hauling boxes up the stairs or paying more than you need to for an extended movers window.
+ Get Renters Insurance. Many buildings require it, but even if they don’t, it’s a smart move. If something unexpected happens, like a fire, flood, or break-in, renters insurance helps cover the cost of your personal belongings.
Renting your first apartment is a big step, but with some preparation, it doesn’t have to be overwhelming. Lean on the right resources, budget wisely, and don’t be afraid to ask for help along the way. This is your first home, and you deserve to start off on the right foot.
We’d be honored to help you find your very first apartment. With our local knowledge and industry experience, we’ll guide you to a place you’ll love while steering clear of scammy listings and hidden fees. We’ll connect you with trusted movers, offer FaceTime tours if you’re relocating, and give you honest advice about what fits your budget. If you’re looking for support with your first rental, reach out below.
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