Not everyone has the capital to buy a home. Renting has a lot of perks such as knowing what your costs are instead of having to worry about rising interest rates down the line. Being a renter means that you have your cost set each month and if you find yourself with more or less money in the future then you can simply move places to match what you can spend. A renter also has the added benefit of not having to pay for cost of repairs when a pipe bursts. The property owner has that responsibility. A renter does have a few things to think about if they want to get the best deal.
Your credit can hold you back. If you have bad credit from credit card bills then it can hurt you when you are looking to get a new place. Contacting a credit repair consultant can give you immediate help and you can also try getting a letter from your old landlord that states you are a good tenant. If you are still having a hard time getting approval for a rental apartment then offer to pay up several months’ rent in advance. Taking a personal loan at a reasonable interest rate might be worth it if you are able to get into the place you want and pay off the loan in the future.
Make a conscious decision to go with a managed property or renting from a landlord. A managed property might have faster service but you will be paying for it in your rent checks while a landlord might be slower at getting things done but you might be able to negotiate your rent.
There are tons of tools out there for a person searching for an apartment. Use rental searching websites and don’t forget to check the reviews online. If you cannot find any reviews online then do not be afraid to go by and ask current tenants how the management takes care of problems.
Once you have a place then know what you are allowed to change. Even simple things like light switch covers and bathroom fixtures can make a big improvement to an old apartment. Knowing your rights as a tenant goes a long way. Before things get out of hand with a lousy landlord or mismanaged apartment, look into what rights you have in the area you live in.
You will likely be renting whatever apartment you get for many years so to make sure you get the right place it can help to pretend you are buying a home. Check out what the neighbours are like and try to have a good relationship with them and solve problems amicably. If it is in the area that you want but the place is quite small, then plan smart and use storage hacks to make the most of the space you have.
When you do move, knowing when to move can make a difference. If you are near a university then consider when the students move and how that might affect the available apartment market. If you move during an off-season then you might be able to negotiate your rent or even pay up more in advance to get a better rate or avoid rental increases over time. Every tip helps when it comes to getting the most for your money in the rental market.