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A good friend of mine asked me to room with her and I thought this would be a great opportunity for me to learn what it’s like to fully move out of my parent’s house and get to experience the world as an actual adult. I’ve been very excited, but I’d be lying if I didn’t say this has been some extremely emotional and hectic couple weeks. We did what most people in their 20’s do; wait till the last possible moment in order to find a place!

There is a lot more to renting an apartment than I realized. There’s so many fees associated to every little thing. It’s ridiculous! There is a fee to send off the application, a security deposit, a fee for a guarantor, etc. (I’ll tell you what all that means in just a second) Luckily, we had a great realtor working with us and she made the search exponentially easier.

If you’re looking for a place to rent and have no idea what to do or where to begin, you’re not alone. I didn’t know anything about this either, but I’ll try to explain everything in the easiest way possible.

Step 1 – MAKE A BUDGET

Find out how much you can afford on a place before you start a search. There’s nothing worse than apartment-hunting for hours only to find out you can’t afford them.

• Also makes it easier for you to explain to a realtor what you’re looking for, in case you get one.

Step 2 (optional) – GET A REALTOR

We were lucky enough to accidentally stumble into a realtor’s office and she had a list of 4 really good properties in less than a day.

A lot of realtors won’t charge you for finding a place as the apartment complexes will pay them for bringing you to them. Just make sure to write on the application that you were referred to them by the realtor. They work hard to find you a place. Let them get paid for it 🙂

Step 3 – FIND OUT WHAT THE FEES ARE

Like I mentioned earlier, there’s tons of fees associated with getting a place. Let me explain what some of them are:

• Application Fee: Much like when you apply for a university, you have to pay an application fee. This typically ranges from apartment complex and even when you buy a house.

One guy was asking $150 per person that way applying for the unit and another was only asking for $50 per person applying. It really just depends.

• Admin Fee: Typically, admin fees are to cover credit checks and background checks per application. It’s important for owners to run credit and background checks in order for them to protect themselves and their assets by finding qualified renters. Admin fees also help to encourage only serious renters.
• Security Deposit: A sum of money given to the apartment complex as collateral in case you damage the place up. Most places will typically return the deposit once you move out if you’ve kept the place in the same condition as when you first moved in. Kind of like when you wanted to go to the bathroom in high school, but your teacher would ask for your phone before you went so you would come back to class. It’s just a security measure to ensure you don’t screw up the apartment.
• Utility Bills: Essentially any bills that aren’t included in the rent:
  • Sewage
  • Gas
  • Water
  • Garbage

Make sure to ask about how much utilities run because you’ll have a lot more expenses to pay for than just rent. Also make sure to ask how all that is paid and how to set everything up. Some places allow you to pay everything to the apartment complex themselves while others let you take care of it.

Ask the leasing agent what is included in the rent payment as some places will have internet/cable or other bills included. You don’t want to find out you’ve have high speed internet through the complex after you’ve signed up for a year-long contract with another company.

• Guarantor Fee: As an adult that is barely starting out, many places won’t trust you, so they will require you to have an adult tag alongside you for a little while, a guarantor*. A guarantor is essentially someone who signs their name to the contract and agrees to pay if the tenant is not able to pay the rent.

*Unfortunately, not everyone is able to get a guarantor and it may feel like the end of the world since most places won’t let you move forward in the application process without one. Here are some things you can do if you can’t get a guarantor:

Find out whether you need a guarantor or not. Most places require the potential tenant to:

• make 3 times the monthly rent
• be verifiably employed for at least 6 months
• must provide proof of income
  • paystubs
  • W-2
  • Employment offer letter

• If you don’t qualify based on the above, try these out:

  • Increase the security deposit. The fact that they see you have more money and are willing to pay more just to secure a spot will make you seem more trustworthy.
  • The complex may require first and last month’s rent payment
  • I’ve heard there is a type of insurance policy for landlords that cover rent if tenants fail to make payments. If you’re willing to pay that cost, the apartment complex may be willing to overlook you not having a guarantor.
  • Get both the insurance and increase the security deposit amount! This should make it almost impossible, at least in my honest unprofessional opinion, for the landlord to not give you the apartment.
  • Hire a “Rent Guarantor Service”. Apparently, you can hire a company to be you “guarantor”. I looked a little into it and there seem to be a lot of stipulations regarding it, so it may or not be worth it depending on your circumstances. It’s worth a google in case you’re in a bind, though!

Step 4 – MAKE SURE THE MOVE-IN DATE WORKS FOR YOU

Double check that the move-in date for the apartment you’re looking at applying to corresponds with the move-out date for your current apartment. You don’t want to apply for a place with an available date of the 21st if your current lease ends on the 15th.

You might also want to give yourself some wiggle-room of a few days from the move-out date and the new move-in date for the move itself. If you move-in date for the new place is  the 10th and the move-out date for the old place is the 15th, you get a few days to move at your own pace rather than rushing and making things more stressful.

Step 5 – DO A WALKTHROUGH OF THE APARTMENT

This is probably one of the most important parts of the process because this is where you will be living for quite a while.Most of the time they’ll show you the model apartment that looks flawless and beautiful. Ask to see the apartment you’ll be renting, if at all possible. Sometimes the tenants haven’t yet move out so this won’t always be possible.

If they do show you the unit you’ll be living in, be hypervigilant of EVERYTHING and don’t be afraid to ask questions! If there appears to be mold on the ceiling, ask about it. If there seems to be bugs, ask about it. If the appliances look all worn down, ask about it. Also take note of anything

Here’s a few simple things to look for while doing a walk-through:

• Available appliances – some places provide washer and dryer in the rent
• Where the sun rises and sets – those rooms may become especially warm
• Cell reception – nothing worse than not being able to make calls in your own home

Step 6 – ASK ANY QUESTION YOU CAN THINK OF

There’s so many aspects about renting that differ from place to place. Here’s a few I would recommend you ask:

• Is renter’s insurance required? What amount should the policy hold?
• Is there pet rent? – I’ve seen that some places require additional rent for your pet that can range from a $5/month to $25/month. You heard that right, a month! Pet deposit AND pet rent in some places
• Is the washer/dryer included?
• How will rent be paid? – Checks, online portal, cashiers check, money order, cash?
• Is there a grace period for the rent? – Some places allow a few days grace period while others immediately charge a late fee
• Are any utilities covered in the rent? What are the names of the utility services (gas, water, electricity, cable/internet, etc.)?
• How are emergency situations handled? Is a broken AC in a hot summer considered an emergency to them? How long will it take for an emergency request to be handled?
• How far in advance do I need to give notice before moving out?

Take a chance to ask yourself what is important to you and ask the leasing manager. Write these down so you don’t forget one that might be important. If you’re nervous about asking these questions in person, send the leasing manager an email!

Step 7 – SUBMIT APPLICATION AND HOPE FOR THE BEST

The whole process typically takes about a business day, but sometimes they’ll have an answer by the end of the day. Some of the things they look for include:

• Credit Check: An investigation that includes information about timely payments, or lack thereof.
• Criminal Background Check: An investigation that looks for
  • Criminal records
  • Arrest history and jail time
  • Sex offender records
  • Litigation records
  • Driving records; DUI, speeding tickets, etc.

Step 8 – BE ACCEPTED! (Hopefully)

One of the best feelings you’ll have is to be approved for something you’ve spent countless hours worrying over!

Step 9 – SIGN THE LEASE

Now that you’ve been accepted, and you decide to move forward with the unit, you will be signing the lease agreement. They’re very long and full of legal wording…BUT it’s very important that you read it through and at least have a general idea of what it says; this isn’t the iTunes terms and conditions.

The lease will contain details regarding the late policy for rent, where your security deposit will go, what the process is in case you want to cancel or renew your lease, or even the pet policy in case you decide to have a pet later on. It’s like the syllabus professors give you on the first day of school; when in doubt, check the lease.

My leasing agent emailed us the lease and also gave us a hard copy. What I did was save the lease as a pdf document on my computer so if I ever had a question regarding anything, I can use the search feature on my computer to easily find any information I may need.

Best of luck during this exciting time! Remember that there’s a first time for everything so don’t be afraid to ask questions or that you sound dumb for simply not knowing. Check out my other blog talking about what to do BEFORE moving.