Finding a new apartment can be stressful especially if you are not sure exactly what you are looking for or what you can afford. If this is your first apartment or if you are looking with new roommates it is important to make sure that you are trying to satisfy all of the needs of all of the occupants as well as your list of amenities that you would like to have. In many instances you will not satisfy all of your “must-have” list but it would be important to prioritize the things that apartments needs to have so that you don’t waste your time looking at properties that your just not interested in.
Many applicants spend their weekends running around looking at places that at the end of the day they just were never seriously going to rent in the first place. Examples of this would be I have to have 2 bathrooms and the property only has 1 bathroom. Another example is I must have a garage and the property only has a carport or parking space. Many applicants want to have laundry facilities inside their unit and again these are things that will not change, the property either has them or they do not.
Access to transportation, proximity to your work or family are all things that you can vet in the initial process before you run around looking at the insides of a property. Proximity to schools, the quality of the school district, proximity to a park, are also important factors for families with children these are also things that can be explored on the internet very easily on the front end of the process.
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Determine Your Budget
This is probably the most critical step in that if you cannot afford it there really is no reason to look at it. If it is at the higher end of your budget and you prefer to pay less, then you can explore multiple options and make that determination at the end of the day. It would also be important to see if the landlord is open to any price reduction depending upon your move-in. If there is no willingness by the landlord to adjust the price and it is clearly above your budget, you are wasting your time in trying to see if they will make you a deal. If the landlord is open to a discussion, they will not complete the conversation with you until you have viewed the inside of the property and submitted the appropriate application. No landlord will pre-haggle with you about price unless they know for sure that you are seriously interested in renting the property and that you are the type of tenant that they want to rent to. If a landlord is offering a move-in special or free rent or discounted rent, then certainly you can qualify what those incentives would be and they may assist you in your decision-making process.
The simple recommendation is if you cannot really afford it do not waste your time. It is also important to understand if there are any additional expenses that you would be exposed to i.e. internal utilities, common utilities, water, trash, cable. It is important to clarify these potential additional expenses on the front end so that you can factor them into your overall budgeting process.
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Know Your Credit Score and Credit History Before You Apply
It is very easy for you to obtain a free copy of your credit report. You can go to creditkarma.com or myfreecreditreport.com to obtain a free copy of your credit report. If you have credit issues on the front end you will need to address them prior to applying. This may impact the amount of security deposit that you may be required to put up and will ultimately affect your budgeting. If you have excellent credit a landlord may be more willing to offer up a move-in incentive than not.
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Shop Around for Renter’s Insurance and Movers Prior to Your Move
It is important to understand any additional costs other than those directly related to the rent before you move. Obviously, you will incur moving costs and you should explore the cost of renter’s insurance which you should have to insure your belongings. The more information you have the better your overall budgeting plans will be.
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Refine Your Must-Have vs. Nice-to-Have List of Amenities and Requirements
As we mentioned earlier, you should make a list of “must-have” things for the new home that you are searching for and then a list of “nice-to-have” items as well. While a swimming pool at the complex is a nice to have it might not be a must have. Typically, properties with pools, gyms, and other amenities will charge higher rent as a result of it and you can factor in whether you will use them to your overall decision-making process. This will aid you in comparing one property to another.
Call and get specific information before touring. It is imperative that you make contact physically with a leasing agent or property manager or someone from the property before you go look at available properties. Spending your time driving around to open houses and without complete information in advance will be a waste of your time. If no one bothers to call you back promptly you can take that as an indication either that they don’t have anything available or that this is the type of company that you will be dealing with when there is a problem and you may not want to rent from them in the first place. Companies that call you back promptly and provide detailed information on the front end are far more sophisticated and may be better landlords to work with than others. It is also important to make sure that you have all the details of the property, additional costs, timing of when the unit is available to ensure that it fits within your own budget and time restraints. Your time is valuable and so is the time of the agents and property managers that show these properties. Vetting all of the information on the front end will help you streamline your process and make good use of your time.
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Go See the Property
While many properties have virtual tours, drone footage, pictures, and floor plans on their websites or in their advertisement there is no substitute for physically viewing the property. Many pictures can be deceiving, and rooms may look much bigger in the picture than they are in real life. As a company policy we will not rent to anyone who has not physically seen the apartment or the unit unless they sign a waiver acknowledging that they have done so. The chances of someone having an issue without ever seeing the unit are much greater than if you have had a chance to physically walk the property.
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Make Your Decision Quickly and Act On It
Once you determine that you like an apartment or property our suggestion is that you move on it quickly. Landlords have multiple applicants and especially at larger properties there are many moving pieces. If you want to secure the property it is important for the landlord to know that you are seriously interested and once you submit the application they will be more likely to get back to you quickly with an answer. For your own decision making, it is important that you do not waiver and continue to look at multiple properties over an extended period of time. Ultimately if you contact a landlord days or weeks after you have viewed the property there is a good likelihood that it may be already rented. If you have a checklist in advance and know what you are looking for you should be able to make a quick decision once you find what you like.
Searching for a new home can be fun but can also be stressful and exhausting as well. Having a game plan and making sure that you make good use of your time are the two best pieces of advance we can give. Happy hunting!