Moving Resources > First-time Renter Advice

First-time Renter Advice

Congratulations! You are moving out and are now on your own. This is no doubt a very exciting time in your life. Here's some advice about what you need to know to make renting your first apartment a very positive experience.

Private landlord vs. Management company

Before you start looking you might want to decide whether you want your apartment run by a private landlord or a management company. There is an important distinction. A private landlord might be someone with money, hoping to get rich from their commercial real estate investment. Getting rich for them might mean scrimping on expenses and improvements. On the other hand, a management company is in the business for the long-term. Home Properties, for example, manages over 37,000 apartments in more than 105 communities across 9 states. We are professionals who have built our business on word-of-mouth advertising and resident referrals. We strive to ensure that our residents are happy in their new home.

Choosing a Roommate

Unless you landed yourself a really great job just out of college, you will probably need to consider getting a roommate to share expenses. Consider your friends first. Is there someone you already know that will be living in the same area who you would consider rooming with? The idea is to pick someone fairly similar to yourself. Find someone who keeps the same hours, who shares your level of cleanliness, someone who can afford his or her share of the expenses and someone you genuinely like to spend time with. This is an important decision and one that shouldn't be made too quickly.

If you need to look outside your circle of friends, consider local free ads such as community newspapers and local roommate matching services or online at Craigslist or Move.com to post an ad. Also consider checking the listings or create your own at Roommates.com, RoommateNation or RoommateLocator.com. Some of these services may charge you a small monthly fee. When evaluating potential roommates, it is important for you to check references, contact their previous landlord, obtain a recent payroll stub and check their personal credit report.

Apartment Layout

There are many different apartment floor plans available. There are one- and two-bedroom apartments with one or multiple bathrooms and other amenities such as dens, dining rooms, extra storage, etc. Take the time to review the different layouts available to you. Pick a floor plan that most closely fits your lifestyle today... and something you can live with for the next few years. This is also a good time to start thinking about whether or not you are going to be living with roommates and how many will share the apartment. To get a better understanding of how much rent you can afford, check out our Home Properties Living Expense Calculator.

Compare Apartment Community Amenities

When looking for an apartment, it's all about the complete package. Many Home Properties communities, for example, offer swimming pools, fitness centers, computer facilities, outdoor trails, etc. Take the time to compare offerings of several area communities and consider the potential savings if you don't need a separate gym membership, for example.

Reserve your Apartment Online

Once you find the perfect apartment, act quickly. Use the Home Properties website to reserve your apartment online. It only takes a minute.

Application Fee

Once you place a hold on an apartment, the next step will be a credit screening and the application so you can be approved to rent the specific apartment you are interested in. You can download a standard residency application right on our Home Properties website. Just print and complete the form at your leisure. Once you submit the application, you will be asked to pay a small application processing fee to cover the costs of ordering a credit report, checking references and processing your application. This fee is non-refundable.

Finalizing the Apartment Selection

Once you have been approved and are deemed credit worthy, it's time to take a closer look at the exact apartment you will be moving into at this particular community. You may be interested in a two-bedroom, but there may be several two-bedrooms available. Every Home Properties community has a process they follow to prepare apartments for your arrival. You can click here to see What You Can Expect When Leasing with Us.

The Lease Agreement

Once you are ready to make a commitment to a specific apartment and community, you will be presented with a lease agreement. The lease is a legal document that is binding on both the resident and the landlord. It specifies the terms and conditions of the agreement and defines roles and responsibilities. Read this document over carefully. You might even have your parents or a good friend read it over as well. Once you fully understand the legal agreement you are initiating, go ahead and take the next step. In addition, all of your roommates will need to sign the lease as well. You can view the standard lease agreement used in your state on our website.

Security Deposit

You will be required to put down a security deposit that is roughly equal to one or two months' rent. This will be held by the property manager and applied to the cost of repairing any damages to the apartment. After deducting the proper amount to cover damages and repairs, the remainder of the security deposit is refundable when you move out of the apartment. Terms for holding and refunding the security deposit are spelled out in the lease. Remember this security deposit while you are living in your apartment; you'll want to take excellent care of the apartment so it will be refunded to you when you leave.

Pet Fee/Deposit

Because pets play a central role in so many of our lives, many Home Properties communities are pet-friendly and give residents the option of moving pets into the apartment. In some cases, you may be charged a small, upfront fee and/or a monthly charge to cover the extra cleaning and repair costs that may result from your dog or cat in the apartment. Terms for holding and refunding the pet deposit are spelled out in the lease.

Renters' Insurance

Before you move in, it is important for you to obtain renters' insurance. This is a special insurance policy that protects the contents of your apartment from loss or damage due to fire or theft. A policy of this type is really quite affordable and premiums are calculated based upon the value of your furniture and other personal possessions. Most companies offer policies starting at $20,000 in coverage, which costs about $150 a year. You can obtain renters' insurance by visiting the renters' insurance link on every Home Properties Resident Website or contacting your family insurance agent. Remember... any insurance carried by the property owner only insures the buildings. Protecting the contents of your apartment is your own responsibility.

Apartment Walk Through

Right before you are scheduled to move in, it is important to walk through the apartment with the leasing consultant. This allows you to confirm that all preparations have been completed and the apartment is prepared to your satisfaction. If you have a digital camera, it is a good idea to take a few "BEFORE" shots of each room in the apartment.

Arrange for Utilities

Because utilities such as gas and electric, cable television, Internet service and telephone service will be placed in your name, it is your responsibility to call and order service before you move in. You can also access our U-Choose service on each Home Properties Resident Website to arrange for all of these services online in just a few minutes. Depending upon your credit history, these suppliers may request a refundable deposit. This will also help you to start building a credit history in your own name.

Furnishing Your New Apartment

Before moving in, you will want to give some thought to furnishing your apartment. The most important component is having a good bed. After that, consider hunting for furniture and supplies at garage or yard sales, thrift stores and the attic or basement of parents and/or close relatives. You might also consider checking the classified ads in local newspapers or community advertisers. Beyond couches and coffee tables, you may also need to find a small table and chairs for your kitchen or dining room, floor lamps, area rugs and chairs for extra seating. Don't forget to stock up on other basics, including a shower curtain, wastebaskets, cleaning supplies, mops, pails brooms, etc. Check out How to Outfit Well-Dressed Digs for more decorating ideas and links.

Arranging the Move

Once you have found your perfect apartment, completed the paperwork and have a move-in date in mind, it's time to locate a moving company. By accessing our U-Choose service on each Home Properties Resident Website, you will be able to view several companies in the area that you could consider contacting. Ask friends and relatives for recommendations. Unless you choose to pay for the very expensive packing service, you will be responsible for packing everything yourself. Consider purchasing bubble wrap and using it to wrap fragile items such as china, glasses or lamps. Liquor stores and supermarkets are a good place to find boxes or you may decide to purchase new boxes from the moving company or a mailing store. Check out our Home Properties Moving Checklist or RPSRelocation.com for more information.

Find more first-time renter survival tips at:
the Dollar Stretcher.com, Kiplinger's Personal Finance, and MyFirstApartment.com.