1. Renting your First Apartment

2. The Hunt… Ask people ideas on where to look Newspaper
Apartment Magazines
Internet
Agencies: Apartment Search
When talking to someone on phone about apt- ask questions: location, rent includes, pets…arrange visit….

3. Rental Abbreviations A/C Apt Br Bth C/A Cpts & drps D/W fpl Furn GarLr
Mbr
Pvt entr
Refs req’d
W/D
W/w cpt
+ util
See not sheets for info…

4. $$$$$ *34-36% Of budget is spent on Housing needs.
(some people stay around 20-25% to be conservative)
HOUSING COSTS TAKE THE LARGEST PORTION OF A FAMILY’S BUDGET
More you spend on housing needs,
the less you have for expenses,
entertainment, savings…
You want to be comfortable- but not break the bank.
Finding a apt for this much will be very difficult that’s why people tend to go above 20%…
Try and stay in 20-25%… or you’ll regreat it later…

5. Location, Location, Location
Close to job
Safe neighborhood
Close to good school system
Close to public transportation
Parking
Close to stores, park…

6. RENTING V.S. OWNING
HOMEOWNERS NEED TO PLAN FOR UNEXPECTED MAJOR EXPENSES: ROOF REPAIR, PLUMBING, ETC.
RENTING: EVERY REPAIR IS INCLUDED WHEN YOU RENT, IF SOMETHING LEAKS, THE LANDLORD IS RESPONSIBLE.

7. Precautions: Before you sign the lease…
Inspect for damages/violations
Take photos
Have landlord sign your inspection
Insist violations/damages fixed before move in
If repairs are required, get a date of repair in writing
Check out: smoke detectors, mailbox’s, lighting, exits, neighbors…
Check out exterior and interior, common areas, safety, utilities,…
Ask lots of questions
See info on sheet for more info on what to look for in a check list…

8. Your rights as a renter Safe and clean Meet codes Appliance must work
Heat and air must work
Toilets and water must work
Door locks must work
Roof cannot leak
Windows must work
Outside must have working lights
See info sheet for more info on this

9. Your Responsibilities as a Renter
Pay rent on time
Take care of property
Notify landlord of repairs needed
Giving notice if leaving
Paying for any damages
Paying rent if roommates move out

10. Landlord Rights/Responsibilities
Charge extra if rent is late
Keeping security deposit if you leave before lease is up or for damages
Charging rent through length of lease
Keeping part of security deposit if you do not clean apt before you leave
Make repairs in a reasonable amount of time
Keeping premises safe and sanitary
Enter premises only on agreed time to make repairs
Collect rent
Maintain grounds

11. Final Steps Narrow choices Make selection: contact Manager
Final walk through
Fill out application
References
Credit Check

12. Lease Legally binding contract Read fine print Month/year
Protects both tenant/landlord
Cosigner?
Terms
Security Deposit- make sure refundable
Terms include: address, start/end dates, rent and what includes, utilities, security deposit, repairs/damages, rules-pets, noise, paint, nails…, notice to give beofre move out days, subletting rules….
Make sure you know where and who to make rent out to eaach month
Security deposit: assures your landlord that any damages made to your apartment while your renting will be covered.
Also, if you use you fail to pay rent or leave apt in bad shape.

13. Renters Insurance Protects against damage: wind and fire Theft
Accidental damage
Cheap and worth it.. Like $10/mo….

14. Moving in and out Utilities turned on Moving truck… Budget Furniture
Pay deposit/1st month rent
Notice to landlord
Clean
Patch holes
Final inspection
30 days to get deposit back