Finding the right apartment at the right price is not easy, but it shouldn’t be too overwhelming either. Once you find out what you can afford, it just boils down to finding the right apartment and signing on the dotted line. (On a side note, the ease of finding the right place really depends on the city, i.e. finding an affordable unit in San Francisco might be nearly impossible compared to Oakland or Fremont.)
Here are some tips that will come in handy when searching for an apartment:
According to the US Census Bureau, your monthly rent shouldn’t be more than 20 percent of your monthly income. For example, if you earn $5,000 per month, your rent should not be more than $1,000. This means that you have to take the time to polish your personal budget before you start apartment hunting.
Knowing how much you can spend will help you to identify the areas you can cut back on in your personal finances. You never know, deciding to drop your costly TV subscription might create more funds, allowing you to afford an apartment.
Add renter’s insurance
For most people, renter’s insurance is a choice, but for others it is a must-have because property owners ask for it. Renter’s insurance covers losses and aids in covering your landlord in case you damage the property. A property owner only insures the building, but this insurance will cover the property inside it.
Luckily, renter’s insurance is quite affordable and the rates depend on the rent you pay, amount of coverage, as well as your geographical location. However, you should expect to pay an average of $500 per year on $25,000 of coverage.
Run a credit check
Many property owners run credit checks to make sure that you do not have any glaring issues with your credit. Therefore, you should be ready for a background check. It would be a good idea for you to request a free credit report so that you can be better prepared for any potential roadblocks that you encounter.
You are entitled to a free credit report once per year. Because it is free and it will not affect your score, you should take advantage of it.
Start hunting for apartments early
You should not wait until the last minute to start apartment hunting. You need to start hunting at least three months in advance because tenants need to give their landlords a notice. Although you might want specific features in your house, here are some basic things that you should consider:
Price – do not look at apartments outside your budget. The property owner is not likely to discount the rent and you could end up overspending. You should set a firm number and look at apartments that fall within that price range.
Transportation – if you do not have a car, you need to rent an apartment that is close to public transport. Choosing a low-priced apartment in a location that is not close to public transport would be counterproductive, because you still have to spend a lot on transport.
Safety – how safe is that particular neighborhood? Not only should the house be in a safe neighborhood, but you should also feel safe inside it. Private entrances, proper locks, and security are all things that should make you want to rent apartments such as West Village apartments.
Gather your down payment
Most landlords need a down payment, which often includes a security deposit plus the first and last months of rent. Therefore, you need to have enough money before deciding to hunt for an apartment. Your security money will be returned if you leave the property without damaging it.
If you are looking for apartment rentals in Davis CA, the above tips will be helpful in your apartment search.
Yunas Chaudhry is a super-connector with AYC Web Solutions who helps businesses find their audience online through outreach, partnerships, Photography, branding and networking. He frequently writes about the latest advancements in digital marketing, digital photography, Darkroom Clicks Photography and focuses his efforts on developing customized blogger outreach plans depending on the industry and competition.