After living with their parents for decades, many young people feel that it is time to fly from the nest and experience the world for themselves. This is a scary and exciting experience that needs to be taken seriously.
Unless they’ve been saving for years, most young adults don’t have enough money to purchase a house as soon as they leave home. This explains why approximately 78% of people under the age of 25 are renting.
If you want to find a new apartment to rent, be sure to use these tried-and-true tricks that will help you find the perfect rental home in no time.
1 – Visit the Space In-Person
If you are tight on time, you may have considered renting a living space without personally inspecting it. Although this may be a time-saver, it is extremely risky.
By seeing the space in-person, you’ll be able to get a better idea of how your belongings will look and fit in each room. Additionally, you’ll have a chance to look for issues like cracks, mold or other forms of physical damage. Similarly, when you visit the rental property, you should analyze the overall cleanliness of the building.
If you don’t have time to visit the living space, make sure that you go with one that has been thoroughly vetted by a rental real estate matching company. This will ensure that the living space meets all of your standards and expectations.
2 – Know the Associated Management Expenses
If you are planning on moving into a condo, we suggest that you ask the property owner if he or she uses a condominium property management company. These companies are third-party businesses that maintain rental properties.
If the property owner has hired a rental property management service, you can expect the building to be clean, updated and in good condition.
However, before renting a condo, first-time renters need to be aware of the related fees. Aside from the monthly rent, you’ll be responsible for paying condo management expenses. These expenses cover things like amenities, utilities and security features.
3 –Read the Lease
As a first-time renter, the worst thing that you can do is skim through the lease. The lease is filled with important details and intricacies about your rental agreement.
Before signing on the dotted line, you need to take the time to learn about the specific restrictions, fees and penalties that come along with breaking the rules. As you most likely know, a lease is a legally binding contract that needs to be respected by both parties. Failing to uphold this agreement can result in eviction and negatively impact your credit score.
If you can’t meet with the rental property owner to go over the lease, you can ask them to mail it to your current address. Better yet, we suggest that you work with a rental property owner that offers digital lease signing. This gives you the ability to read and sign your lease without stepping out of the door.
Whether it’s a 2 bedroom condo for rent or apartment, all first-time renters should use the tips mentioned above.