Renting your first apartment comes with more freedom but also a new set of responsibilities, like bills to pay and expenses you’ve never had before, which can make first-time renters nervous. These 11 first-time renter tips cover the essentials: budgeting, apartment touring, the application process, how to read a lease, renters’ insurance, and more. Understanding these renter basics will help you feel prepared to move into your first apartment with confidence.
Tip #1: Budget Wisely
Putting together an apartment budget can help you save up for your first apartment. Common budgeting guidelines suggest that renters should spend no more than 30 percent of their monthly income on rent. Our rent affordability calculator can help you pinpoint a good budget for an apartment based on your monthly income.
The 50/30/20 rule suggests that 50 percent of your income should go toward essential living expenses like rent, groceries, and transportation, 30 percent should go toward non-essential expenses like vacations, hobbies, and streaming services, and 20 percent should go toward savings and retirement. This framework can help new renters budget for an apartment while leaving income left over for other expenses.
Tip #2: Determine Your Needs
Before you start searching for apartments, make a first apartment checklist. If you own a car, you’ll need to look for an apartment with ample parking space. Pet owners will need to find a pet-friendly community that’s accommodating to their furry friends.
Your apartment needs may differ from your apartment wants. Must-haves in an apartment usually include amenities that will keep you comfortable, like air conditioning and a dishwasher. Wants can range from a swimming pool, fitness center, or a balcony. Before you sign a lease, make sure the apartment community you’re considering fits your needs.
Tip #3: Tour the Apartment in Person
While virtual apartment tours can give you a good sense of the space before visiting an apartment, an in-person apartment tour can alert you of any red flags or unit damage that are hidden or unclear in photos or 3D tours. During your tour, make sure to ask the leasing agent important questions about the community, such as:
- Is parking assigned or first-come, first-served?
- Where do visitors park, and do overnight guests need a pass?
- Is parking free or is there a monthly fee?
- How do residents receive mail and packages?
- What are the community quiet hours?
- Do residents have to pay for valet trash?
- What other added fees do residents have to pay upon move-in?
- Is renters insurance required?
An apartment tour is the best time to learn more about an apartment community and make sure it’s a good fit for you and your lifestyle before signing a lease.
Tip #4: Know What Utilities Are Included
Some apartment communities will lump utility payments in with monthly rent, while others will require you to set up your own utilities, like power, water, trash, or internet. Setting up your own utilities may require you to open new accounts and pay higher one-time fees than you will eventually be paying monthly. If you would rather live in a utilities-included apartment community, talk to your property manager about the utility payment process before signing a lease.
Tip #5: Plan for Move-in Costs
Before you move into your first apartment, you will have to pay a variety of different move-in costs. Move-in costs for an apartment don’t just include the monthly rent or first month’s rent; it can also include other fees. Here are several other move-in costs you should budget for and be aware of before moving into an apartment:
- Application fee
- Administrative fee
- Security deposit
- First month’s rent
- Utility setup
- Renters insurance
- Pet fee
- Parking fee
These extra costs can make your initial move-in expenses much higher than you originally thought. Make sure to ask your landlord or property manager how much will be due prior to move-in so you can budget accordingly.
Tip #6: Know What the Application Process Involves
The apartment application process is typically the same for every renter. First, you will fill out an application and pay a small application fee. The apartment community will then usually run a background and credit check to ensure you will be a reliable tenant. The turnaround time for approval ranges from community to community but usually takes between three to five business days for the apartment to come to a decision.
New renters with little to no credit or rental history may need a guarantor or cosigner to be approved for an apartment. A guarantor is someone who signs the lease with you and is responsible for paying any missed rental payments. A cosigner also signs the lease and takes on financial responsibility but is legally allowed to occupy the space.
Tip #7: Read and Understand the Lease
Before you sign a lease, make sure to read the contract in full and voice any questions or concerns with your property manager or landlord. If you and your property manager verbally agreed to something during the tour, make sure it is written into the agreement.
Reading through your lease can be hard, but it can save you from legal trouble in the long run. Keep a copy of your lease in a safe place in case you need to reference a specific clause, like rent deadlines, late fees, pet policy, maintenance request issues, and other apartment-living concerns.
Tip #8: Get Renters Insurance
Many property managers require renters to purchase renters insurance before move-in. A renters insurance policy provides monetary protection for you and your belongings in case of emergencies. Renters insurance includes property coverage, personal liability coverage, and temporary housing if your rental has been deemed uninhabitable. Some property managers may have a preferred insurance agency, but you can also do your own research and get quotes from different agencies to decide what works best for you.
According to NerdWallet, renters insurance costs an average of $14 a month, or $165 a year. Before deciding on a plan, read through your lease to make sure your renters insurance meets any minimum coverage requirements.
Tip #9: Conduct a Move-In Walk-Through
After you receive the keys to your apartment, your property manager will most likely do an apartment walk-through with you. During this walk-through, check for any unit damage, like scratches or holes in the wall, chipped paint, or broken appliances. After you’ve done the walk-through, you or your property manager can send a list of repairs to maintenance.
Make sure to take pictures and videos of any potential damage during the walk-through. If you don’t record prior damage and share it with your landlord, you may be charged for these repairs when you move out of the unit.
Tip #10: Befriend Your Neighbors
One perk of apartment living means living close to other people. Getting to know your neighbors can help you make new friends and create open communication when it comes to disturbances, like banging on the walls or loud noises past quiet hours. You’ll also be more comfortable asking for neighborly favors, such as grabbing your mail when you’re out of town or taking your dog for a walk when you need to stay late at work. Staying friendly with your neighbor can help make the apartment living experience better for you and your neighbors.
Tip #11: Decorate Intentionally
After you move into your new apartment, you can start decorating. Because you don’t own your rental, you can’t make permanent changes, but most rentals still allow you to decorate your space. Bring your walls to life with art that fits your style and light up your new home with fun lamps. Curtains can make a room look more expensive and throw pillows and blankets are easy ways to add pops of color. Check your lease before you start decorating to ensure you’re not violating any lease terms.
Find Your First Apartment on Apartments.com
If you’re searching for your first apartment, start your search on Apartments.com. On Apartments.com, you can search for apartments by the things that matter most to you. Whether that’s location, price, size, or amenities, Apartments.com makes it easy to find an apartment that works for you, your lifestyle, and your budget.
This article was originally published on July 7, 2019, by Lauren Ross and has been updated.
FAQs
What do I need for my rental application?
Before you apply for an apartment, make sure you have the following items on hand:
- Contact information
- Social security number
- Photo ID
- Employment information
- Proof of income
- Rental history
- Vehicle information
- Cosigner or guarantor information
How do I look out for rental scams?
Common red flags for rental scams include stolen or fake listings, unrealistically low prices, requiring cash or wire payments, not offering in-person tours, and not requiring a rental application or background check. Scammers will often create excuses for why you can’t tour a property in-person and rush you into signing a lease or sending payment. Look for these signs and stay proactive during an apartment search.
How does renting an apartment for the first time work?
If you are renting an apartment for the first time, you will usually follow these five steps:
- Set a budget and decide on your must-haves.
- Search for apartments and tour your top choices.
- Submit an application and wait for the approval decision.
- Review and sign your lease and pay any move-in costs.
- Buy renters insurance, set up utilities, and complete a move-in walk-through.
How much income do I need to rent an apartment?
Many property managers require a potential tenant’s income to be three times the monthly rent. So, for example, if the average monthly rent at an apartment is $1,200, you would need to make a monthly income of $3,600 to be approved.
