{"id":756,"date":"2019-12-09T15:06:00","date_gmt":"2019-12-09T23:06:00","guid":{"rendered":"https:\/\/apartmentsbstg.wpengine.com\/?p=756"},"modified":"2022-06-28T09:13:25","modified_gmt":"2022-06-28T16:13:25","slug":"how-to-rent-apartment","status":"publish","type":"post","link":"https:\/\/blog.irvinecompanyapartments.com\/how-to-rent-apartment\/","title":{"rendered":"How to Rent an Apartment"},"content":{"rendered":"

It\u2019s a newfound independence when you <\/span>rent your first apartment<\/span><\/a>. You can settle in and decorate your own space, creating an oasis truly meant for you and your lifestyle. It all starts with the apartment hunt, so you\u2019ll want to see what this process entails and how to prepare for it.\u00a0<\/span><\/p>\n

Here\u2019s what you need to know as you\u2019re embarking on the journey to find your first place.<\/span><\/p>\n

\"WorkingSTEP ONE: SEARCH BASED ON A REALISTIC BUDGET<\/b><\/p>\n

Your budget is the most important part of the apartment hunting process. It determines whether you can even look at certain communities and is great at helping you narrow down your search. Put simply, your budget is based on your income leftover after all mandatory expenses. If your earnings are unpredictable or fluctuate, keep your estimates fairly conservative, just to be safe. Here\u2019s how you budget:<\/span><\/p>\n

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  1. Determine your net income per month (what you make in your paycheck, after taxes).<\/span><\/li>\n
  2. List your current bills per month and deduct them from your above income (credit cards, car payment, etc.).<\/span><\/li>\n
  3. Factor in unexpected costs, such as an ER visit or car troubles (by adding 10 to 15 percent to your expenses).<\/span><\/li>\n
  4. Consider utilities and groceries (on average, <\/span>utilities<\/span><\/a> cost around $200 per month, and <\/span>groceries<\/span><\/a> for one person cost around $250 per month).<\/span><\/li>\n
  5. Don\u2019t forget about entertainment money, such as happy hours with friends and movie dates.<\/span><\/li>\n
  6. What\u2019s left? That\u2019s <\/span>your available budget for renting an apartment<\/span><\/a>. Be realistic about what expenses you can cut, if you so choose.<\/span><\/li>\n<\/ol>\n

    While you\u2019re looking for your first place, try to find out if any utilities are included in the rent. Sometimes, a unit seems more expensive than it is because certain amenities are included in the overall price. As you\u2019re budgeting, also consider move-in and upfront costs, such as the security deposit and pet fee. Some apartment complexes may ask for the first and last month of rent upfront. Just be ready for these financial twists and turns along the way.\u00a0<\/span><\/p>\n

    If you can\u2019t afford a place, don\u2019t look at it. It\u2019ll be a constant game of comparison, so always stick to what you can afford.<\/span><\/p>\n

    \"CreditSTEP TWO: CHECK YOUR CREDIT SCORE<\/b><\/h3>\n

    Before the landlord checks your credit score, you should. You can do so for free at <\/span>annualcreditreport.com<\/span><\/a>. This way, you have time to correct any inaccuracies and determine if you\u2019ll need a cosigner <\/span>\u2212<\/span> someone who will be responsible for paying your rent if you can\u2019t afford it that month. Usually, you won\u2019t need a cosigner unless <\/span>your credit score is fairly low<\/span>.\u00a0\u00a0<\/span><\/p>\n

    STEP THREE: DECIDE IF YOU WANT A ROOMMATE<\/b><\/h3>\n

    If finances are an issue when looking for a place, you may want to think about getting a roommate to share the space and expenses. The roommate situation isn\u2019t for everyone, though, so be cautious about this decision. Money aside, living with someone can present its own set of challenges, especially if you don\u2019t know the person or their nuances very well. Make sure that you\u2019re both listed on the lease and that there won\u2019t be any surprises, such as a rent or security deposit increase due to adding an extra person.<\/span><\/p>\n

    Certain questions need to be answered before signing a <\/span>roommate contract<\/span><\/a>:<\/span><\/p>\n