Tips for First Time Renters
Your first apartment! Exciting, yet daunting. It’s the change for you as a tenant to put your stamp on something that you can call yours. However, it’s important to educate yourself on the path forward. Knowledge is power, so here are ten things every first-time renter should know.
Furnish and decorate your apartment a little at a time.
When we move into a new space, it’s tempting to go on a shopping spree and fill the apartment with stylish decorations and furnishings. But resist the urge and buy only the apartment essentials. These include a bed, a table, and a couch. From there, purchase things a little bit at a time. Not only will this method help you save money, but it’ll help you avoid impulse purchases.
The time of year you rent impacts how much you’ll pay.
When searching for your first apartment, avoid looking during spring and summer, if possible. While there are more options during this time of year, prices are also higher. Winter is a slower season, and landlords are eager to rent out their properties. That means they’re likely to lower rental prices or offer move-in specials just to get the unit filled.
Understand your rights as a tenant.
If you’re lucky, you’ll have a great relationship with your landlord. But the truth is that it’s not always smooth sailing. That’s why it’s important to understand your rights as a tenant. The Landlord Tenant Board is a wealth of knowledge and there is lots of resources for tenants online.
Understanding the lease you are about to sign
It’s imperative you review the lease you are about to sign thoroughly and ask questions if you are unsure. As a management company, we’ve had every type of question possible and are always happy to answer questions about it and explain why the clause is in place. For example, are you allowed to have pets? Can you smoke inside the home? What is the subletting policy? The lease also holds the landlord accountable. It mentions how much notice they must give before raising the rent. Do yourself a favor and read through it before you sign it; you’ll be glad you did.
What happens at the end of the lease period?
When renting your first home or apartment, one important thing to consider is whether or not you can renew your lease when the original one you signed expires. Some landlords plan on selling or moving into the property and will only rent it for a specified time period. Others are willing to rent it out as long as the tenant is willing to pay. Find out what your options are before signing the lease so you have an idea of how long you’ll be able to stay there.
It’s the landlords house, but it’s your home
Always remember that. The key is this – treat the house as you would want the house to be treated if you were the landlord. That’s how you score points with your landlord. Be courteous, respectful and you will have a great relationship with your landlord. Welcome Home has residents in our properties that do just this. They have a sense of pride in their homes and truly appreciate the privilege in living in a professionally managed home.
Enjoy the experience
Enjoy your time at your new property. You’re embarking on a new journey. If you’re a tenant looking for your first place or maybe even your next place, feel free to reach out to us. We would love to have you in one of our professionally managed properties.