I am super excited for this blog post today because I have exciting news to share! This summer, my boyfriend (we’ll be at 4 years in September) and I will be moving into our very first “adult” apartment. No more college dorms or college apartments for us! Titi graduated this past December with his bachelor’s degree (gotta love a black, educated man) and I’ll be graduating from pharmacy school in May 2020 (so a little more than 1 year to go). With both of us being a bit older than the normal college kids, we both felt like it was the perfect time for us to join the adulting world and get our first place together.
It’s a little scary, but also very exciting because it’s a new adventure that we’re taking. Our apartment hunting experience was a little different than most because we had a very short list of places that we were looking at before we finally settled on one, in particular. It’s beautiful, but I have to wait to show you until move-in day of what it looks like. Actually, let me know if you want me to show the entire process of us decorating the new place because that could be a really fun little series!
In this blog post, I wanted to share my tips and some advice that really helped my boyfriend and I find the perfect place for not only our budget, but what we actually wanted in our first apartment. Because don’t forget that apartments complexes or rental properties are in the business of making money and you have to be careful about the decisions you make when it comes to renting from people.
Decide what apartment features matter the most
Before you start driving around town looking for apartments, sit down at home and create a list of apartment features that you want in your apartment. Create a list for items that are must-haves, a list of things that you want, but could do without, and then a list of your dream features. These three lists may include features such as locations, bedrooms, square feet, amenities, parking, elevators, on-site laundry, and so much more.
When Titi and I sat down to create our list, my biggest must-have was a one-bedroom unit in a safe neighborhood that was not too far away from campus that had individual units, almost like mini houses. I didn’t want to feel like I was directly under someone else’s place and for privacy reasons. I also wanted the unit to have A/C and heat options with an open dog policy that allowed for pitbulls, since my rescue is a mix with pit.
Timing is everything for real estate
“Adult” apartments are very different to college apartments when it comes to booking schedules. What I mean by that is in a college town, the busy seasons for rentals are at the beginning of August and the beginning of May because people are either coming in for school or leaving to go back home out of state. Verses an adult apartment, it’s pretty steady and unpredictable throughout the entire year, depending on the location.
That being said, you don’t have to plan a year ahead of time to get an apartment, like you have to with any college apartment near campus. You can wait until a month or two before you need a place to start looking and to sign a lease somewhere. You don’t want to call around too early or you run into the risk of the management staff not being able to tell you an accurate availability.
Get your finances in order and make sure you can afford the rental
If you are looking for an apartment for just yourself, then make sure you are afford the rental property that you are looking for. You don’t want to be working every single day just to be able to afford the rent. Most landlords want you to make 3-4 times the rent or have that much in your bank account. But if that’s not possible for you right now, then look into getting a few roommates to split the bill.
When you’re looking at your finances and your apartment budget, don’t forget to factor in all of the additional fees and costs that can accrue too. These can include:
- application fees
- renter’s insurance
- utilities
- pet fees
- parking expenses if there is any
- any deposits required
- building fees (maintenance, water, and/or trash)
A lot of rental complexes will also require you to put down a security deposit that is equal to one month’s rent and whatever the cost is for a credit report. You also might have to factor in the cost of renter’s insurance, which may or may not be required by the landlord. Regardless it’s always best to have it because it protects your possessions in case of a natural disaster or catastrophe and provides liability for personal injury or property damage. All of these added fees can be a lot so make sure to include them in your overall budget. If you need help saving for the big day, look into the Qapital app. I’ve been using it for years to save thousands of dollars without me even thinking about it.
You might need a co-signer
If you don’t have a credit history or apartment history, then your future landlord might ask that you get a co-signer, or guarantee, to sign with you on the lease. You might also need this if you just started at your first job after graduation! A co-signer will sign on the lease with you and will be financially responsible for the unit, if you aren’t able to pay the expenses each month. Most recent grads’ cosigners are their parents. But be sure that is something that they are willing to do for you, or take matters into your own hands and start building your credit today!
Start the searching process and watch for red flags
There are tons of websites out there to help future renters find their perfect rental spot so find one that works for you and your needs. Some of the ones we used in our search were Apartment.com and Zillow.com. Both websites allow you to put in your wants into the search bar as well as the location that you are looking in to find apartments that match your requirements. They are also super easy to use!
When looking online though, make sure to really dig deep into your search and scrutinize every detail. Most of the pictures that you see on both websites are going to be of the model room, which of course is always going to look better than the apartments that people actually live in. So look at any pictures and the reviews to see what the apartment is really like. Feel free to dig deeper and stalk the apartment complex’s Instagram and Facebook page to see what past and current renters think about the units.
The apartment that we needed up choosing had good reviews, and we both knew people currently living at the complex who really enjoyed the place. We were also able to ask about the utilities and other questions that we wanted to ask a current tenant.
Ask questions
If a detail is missing or they forgot to answer a question you had, don’t be afraid to ask questions to the landlord or management staff. Forgot to ask during the tour? Give them a call! You want to know everything up front before you sign your lease that way there are no surprises during move-in day. Plus you might learn something that really turns you off about the rental (say that there’s no laundry in the unit or in the building at all) and saves you a big disappointment later on.
Here are some examples of some questions you might want to ask:
- How long is the lease?
- How long has this apartment been empty? How long did the last tenant stay?
- What is the typical rent increase and how often does it occur?
- Can I paint the apartment?
- Is there an on-site maintenance person? If so, how quickly do they respond to a request?
- Are there any late fees for a late payment?
- How much is a security deposit?
- Are there any specials or promotions going on right now?
- Are there any limitations on what you can mount or hang on the walls?
Be ready to jump on a great opportunity
So you’ve finally found the apartment of your dreams but you want to think about it for a few weeks? Just know that somebody else might be eyeing up that same apartment at the same time as you are! Because real estate is a quick and competitive market, you’ll want to lock down on a place as soon as you find the perfect one for your budget and needs.
Titi and I had been looking at apartments for a few months before we found the perfect one for us. But since we’ve had been looking 8 months ahead of schedule, the only option for us was to put down a $200 deposit that locks in the old rent price. That way when we go to sign our lease in the late spring season, we can keep the old, cheaper price from last year. A lot of rentals will increase the rent price every year so ask if that is an option if you are looking ahead of time.
Read everything, even the fine print four or five times
Leases are a tricky piece of paperwork that legally ties you down so make sure you thoroughly read the lease, including the fine print, to make sure you understand everything. You might be signing a document that says that the landlord can kick you out at any time without warning or some other ridiculous event. No Bueno! If anything in the lease concerns you, bring it up with your landlord and work something out. But if you do come to a verbal agreement, make sure you get that part in writing too that way you can proof that the discussion happened.
The Takeaway
Honestly, renting an apartment is such a cool and scary experience, but it definitely feels a lot better when you’re in control of the situation and not the other way around. Hopefully, these tips and pieces of advice that I’ve shared today help you find your perfect apartment with ease and confidence. I’m sure you’re going to have some bumps in the road and plenty of great stories to share later on because after all, you’re still renting an apartment through somebody else. But the best part about your first apartment is that it’ll always be your first.
You may also like: How to Decorate Your First Apartment on a Budget and How to Build Credit as a College Student
