Resident Journal

When you're looking for an apartment for the first time, it may be overwhelming.The best method to avoid be overwhelmed is to break down the process into 10 steps. The timeline will mostly be determined by how long it will take you to save the initial money however, once the money is in the bank you should be in your own place within a matter of minutes.

Decide on your budget

There are two common ways to achieve this: You could divide your monthly take-home income by three. If you earn $1800 per month, after tax and other deductions, you could afford to live in a house that is priced at 600 dollars per month. You can also divide your annual gross income (before taxes and any other deductions) by 40. (For instance, if you made $40,000 a year, you could have the money to rent a house that costs as much as 1,000 each month.) Either way gives you a rough idea of your maximum budget.

Start saving

In the near future, you'll have to put down the security deposit (usually equivalent to one month's rent) in addition to the first month's rent. That's not even including the cost of applying for credit or any fees you may be assessed. So start saving now especially since moving can cost anywhere from $200-$2,000, depending on the distance to be covered and the cost of doing it yourself.

Verify your credit score

Management companies will examine your credit once you start applying. It is crucial not to be caught flat-footed. You can check your credit report at the no-cost Annual Credit Report website. The site is a part of the federal government. If you've got great credit then you don't have anything to worry about. You might want to consider asking an adult or a friend to cosign your a lease if your credit score isn't perfect. In any case make sure you can describe your credit score's shortcomings to prospective landlords and explain what you are doing to fix it.

Find a place to settle in your area

Take a tour of the neighborhood prior to making the move in. Ask your friends and neighbors what their thoughts are. Also, consider affordability. Although we would all love to live in SoHo and have the opportunity to do so, many people can't afford it. Be sensible. To determine the cost of a neighborhood, go online to see what an average 1- or 2-bedroom cost. A good guideline is to ensure that at least a third of the properties in the neighborhood of your preference should be within your budget. There are fewer options for you in the event that it's less the amount.

Begin to look

There are listings on the internet, however, you must also connect with your colleagues and friends. A broker may be necessary in the event that the rental market is very constrained in your area. It will typically cost you one month of rent. For the purpose of moving in, you'll need to pay three months rent in cash. Ouch! Also, be aware of warning signs. If you suspect that a certain manager or landlord is involved in poor practices Don't look at their locations.

Another tip If something seems too good to true is likely to be true. Talking to a potential landlord should be straightforward and respectful. Make sure to Google the address of the building to be a final precaution.

Request a quote

Once you find a great area, don't feel cold feet. Make an application if it's within your means, in a place you like and run by a reputable firm. If your credit rating is excellent -- or you have a co-signer lined-up and you're able to get it!

Take the lease

Your lease is a contract so be sure to understand it. You can often negotiate or change certain terms with the management company before signing the lease. You should carefully go through the lease. There are some points that you must be aware of such as the penalties for breaking leases early and the procedure for resolving issues with apartments; how much notice is required in order to extend your lease, and the rules for getting your security deposits returned.

Transfer or set up your utilities

It is recommended that you contact utilities at minimum one week prior to moving into your new home to make sure you are prepared in case of an emergency. Another thing to consider when you are moving in, you need renter's coverage. Also, you must change your address with USPS. You may need to register for parking stickers depending on where you are moving.

Do the walkthrough

Document any issues that you see during the walk-through to ensure that you do not have to be held accountable. You need to test everything from the stove's burners , to the quality and functionality of the refrigerator, all the way to the carpet. If anything's off, document it. If your landlord has to make a change, have it in writing. This is the best method to safeguard your new home, as well as your security deposit.

Move!

You should schedule long distance moves a few weeks in advance. Most prime dates are booked quickly. If you're finally moving of your parents' basement they'll likely assist with the packing of the station wagon and transport you! If you're moving, begin packing early: It takes longer than you anticipate and if you're not totally packed when the mover arrives, you'll be in the middle of catastrophe. Also, label your boxes and ensure you have staples like lighting bulbs, toilet paper and cleaning supplies on hand. They'll be needed immediately when you move into the house.

This may all seem like a lot however, if you break the process down step-by-step moving into an apartment is manageable. It's hard to beat that sensation of entering your own apartment in the very first time.