6 Important Factors Every First-time Renter Should Be Aware Of

 

Renting a house/apartment is one of those huge steps that showcase that you're no longer a kid, but a responsible adult. When you're doing it for the first time, it can be a bit intimidating, however, if it's done the right way, everything is going to be okay.

People carrying boxes, plants

 

Generally speaking, the freedom of moving out and living on your own is very thrilling, however, you should remember that it does come with a couple of responsibilities. Furthermore, being a first-time renter is a huge deal.

There are a lot of things that must be considered before doing anything and if you haven't done it before, you may find yourself a bit lost. But don't worry! That's why this article is here. To give you some tips that will help you choose the best place in the universe!

1. Do Your Research

As we stated in the beginning, moving into a brand-new house is a huge life event. Now, it doesn't matter whether you are purchasing a home or rent it, you should still make an effort to do your research in order to find the best one

This digital age that we're all living in should be embraced and used to our advantage. Literally, anything you want to know can be seen or found on the internet. Moreover, online you can find numerous property search web pages that provide people with quick access to all accessible properties on the market.

More importantly, you can always sign up for efficient alerts to stay updated on all the latest listings when it comes to the rental market. One of the best portals, for the time being, is Private Property where immediately notifies people through SMS or emails of all the brand-new available listings.

2. Renters Insurance

Those who want to live in a rental apartment or house probably do not have the right insurance. Many types of research have shown that these types of places are prone to burglaries, and yet, people still do not consider any form of insurance.

Why does this matter? For instance, if something happens to the place you currently live in, such as theft, fire, or any other disaster, your landlord is not going to be responsible for your personal possessions.

He or she may have insurance for the building, but not for your personal stuff. Therefore, obtaining insurance for renters is a must if you want to protect yourself from any of these negative events. Namely, this type of insurance covers all your possessions, additional living expenses, as well as liability, so it would be recommendable to give it a second thought.

3. Long-Term Expenses

Unfortunately, after moving in, you have other expenses to think about because setting aside money for the rent is not your only financial obligation. According to some studies, long-term expenses range from items you purchase on a daily basis, to monthly utilities. Still, there are a couple of things that can be also added to the list and they include:

  • Electricity
  • Internet and cable
  • Gas
  • Mobile phone service
  • Clothing
  • Water, trash, and sewer
  • Transportation costs
  • Groceries

4. Define Your Needs

Did you even make the list of things that you really need all the time? In this case, when we say needs, we refer to your apartment. Now, there is a difference between what it actually needs and what it "wants".

Boxes on a table, books

 

So, for instance, if you do not have any type of vehicle, then you will have to find an apartment that is close to public transportation. On the other hand, if you own a pet then you should rent a place that is part of the pet-friendly community. These are the things that actually matter and should be put on your list. Furthermore, things that aren't a necessity should not be considered, at least not at this very moment.

5. Understand Your Rights

Even if you manage to build a great relationship with your landlord, you should still find out all about your rights as a tenant. Get the information about the local laws by utilizing the Tenant Landlord Handbook. It is going to provide you with the info regarding things like security deposits, etc.

6. Can You Renew The Lease After The Contract Expires?

This is an important question to ask when renting a house or apartment. Why is that? Well, that's because occasionally, landlords plan on selling their place and will only rent it for a short period of time. On the other hand, you can always find those who will rent it as long as you're willing to pay.

Moving out is so exciting. You are able to set your own rules, decorate the place the way you want it, etc. Still, you should focus on all the things we've listed before you start your house hunting.