Apartment Hunting Tips for Renters
Apartment hunting can be very daunting for some potential renters. Often the variety of options available to these renters is a source of overwhelming frustration for the renters. With so many appealing options it can be difficult to choose just one. However, there are some tips that can help to ease the process of apartment hunting. The process of finding the perfect apartment can be broken down into three simple steps. The first step is to set a budget. Next, the renter should research their available options and then comparison shop to determine which option is the best.
Set a Budget First
For many renters, the most important consideration is how much they are willing to spend on an apartment per month. For this reason, it should come as no surprise that the first step in the apartment hunting process should include establishing a budget. Renters should consider their monthly income and subtract out all of their monthly expenses from this amount. Monthly expenses should include all bills which are paid regularly as well as money spent on food, entertainment, and miscellaneous items each month. The renter may also wish to subtract out an additional amount to allow for some savings each month as well as emergencies. The total left after these subtractions is the amount the renter is able to spend on an apartment per month. Once this amount is established the renter will have a better understanding of the type of apartment they are able to afford.
Research Available Properties
Once a budget has been established, the renter should begin researching the properties which fall within his budget range. It is likely to consider properties that are slightly above the range as well as properties that are slightly below the range. Doing this will allow the renter to see if there is an opportunity to either make improvements on the amount of monthly spending to allow for the renting of more expensive property. The renter can also determine whether or not they feel there is the opportunity to negotiate a lower rental rate on a particular property.
When initially researching properties, the renter does not necessarily have to visit each property. Most of the pricing information can be obtained from resources such as Internet websites, newspapers, and rental magazines. Since pricing is the primary concern at this point, the initial research will enable the renter to eliminate properties that are too far out of their price range.
Comparison Shop
Once the renter has narrowed down his list of possible apartment complexes to a more manageable number it is time to start visiting these properties. It is during this step that the renter will really get a feel for the quality of the apartment as well as the amount and quality of amenities offered by the complex. This is very important because this information can be used to decide between properties that are otherwise very similar.
The comparison shopping process is also worthwhile because it gives the renter some bargaining power in negotiating more favorable rent rates. Renters who have visited a number of apartments likely have a good idea of the going rate in a particular area for a particular size apartment. These renters can use this information to potentially convince some leasing agents to lower their prices at least a little bit. There will not likely be huge drops in price from these negotiations but it will likely be enough to be considered worthwhile.
If you are not comfortable enough to do the hassle of having to scout rental properties that are within your budget, you can choose to work with a Rent Manager. Rent Managers are trained professionals that can help you with your renting needs. Search for the available Certified Rent Manager in your area here.
