One of the practical ways to start living on your own is to rent an apartment. It’s much cheaper and it provides enough privacy for you or your family. The process can be a bit intimidating, especially for first time renters.
So to help you out, here are some tips I have prepared to sort your options and make the right decisions. In this post, we will take you through the steps from finding an apartment, navigating the lease agreement, and managing your rights as a tenant.
- Know your budget
Consider your monthly income and your daily expense. Many experts recommend you should only be spending around 20% to 30% of your net income on rent or housing. You should also consider other “hidden” costs like maintenance fees, monthly dues, and possible renovations. Take note that some apartments may also have income requirements.
If you think you can’t handle the expense, consider getting a roommate.
- Consider your needs
There’s a big difference between getting what you want from what you need, but it’s not impossible to get both. List down whatever comes to your mind. What are you looking for in an apartment? Do you need a studio type or a single bedroom? Do you need a fully-furnished unit? These are some of the things you need to consider. While you may not get everything on your list, it will definitely narrow down the possibilities.
- Look for more options
It is always better to have a backup plan. You can start your search by browsing online. Do not be deceived by the photos you see in the gallery. Visit the unit to see if it suits your preference.
- Review the terms and conditions
Be familiar with the policies. Keep in mind that each landlord may have different rules and regulations. The first thing you need to find out is the payment scheme. Make sure you fully understand your contract to avoid discrepancies. You may also consult a legal counsel to analyze the contract and other policies included. This is to make sure everything is in order and the terms they have are fair.
Finding a place to move in is not that difficult if you know what you’re doing. Always remember that planning ahead of time is always a good thing.