Three Mistakes that First-Time Renters Make

Are you getting ready to rent your first apartment, condo or home? If so, there are many things you should consider so you can be sure you can afford the cost of renting Here are some common mistakes that many first-time renters make so you can plan on avoiding the same problems.

1. Not knowing the cost – Many people who are looking to move out and be on their own for the first time fail to recognize how much it really costs to rent an apartment. Some apartments complexes and landlords will pay some utilities like water and heat for its tenants, but there are other expenses as well. Electricity, cable and phone are some utilities that you may want to have in your place and these are not typically covered in your rent. Be sure to find out how much these other bills will cost you each month before determining if you can actually afford to live on your own.

2. Taking the apartment sight unseen – It might seem like common sense, but you should never agree to rent an apartment or home without even seeing it first. If you are renting at an apartment complex, the property manager might show you a “model” which represents what your apartment will look like. This is good to give you an idea about your actual apartment, but don’t go by just that. Ask to see the unit you will be living in before you agree to rent it.

3. Not reading the lease – Your lease is your contract with your landlord or property manager. If you don’t know what is in the lease, you could be agreeing to terms and conditions that could end up being bad for you. Regardless of how long the lease document is, be sure to read it carefully before signing it. If the landlord or property manager does not want to give you the time to read it, look for an apartment elsewhere. Any respectable landlord or company will want you to know what you are agreeing to before you sign the bottom line.