Apartment Rental Tips for First-Time Renters

Rental Tips | October 11, 2018

At BE Investments, we know how difficult it can be to find the right apartment, especially if you are a first-time tenant. For this reason, we have assembled a list of apartment rental tips for first-time renters.

Know your rental budget

The first and foremost concern to have when looking at renting an apartment for the first time is whether or not it is affordable within your price range. Knowing your overall dollar outlay will help to keep you from wasting time looking at over-priced residences. Find out what the rental includes regarding utilities, Internet, insurance, and parking because, if such things are excluded, you will need to pay more than the face value of your apartment’s rent.

Know your priorities

There are many factors that can affect the value of an apartment, and prioritizing needs and wants for the space is important. When renting for the first time, it is inevitable that sacrifices will need to be made to find a reasonable place. Knowing what is a necessity and what you can survive without can help with the decision making process. Some examples of things to prioritize could include:

  • Location
  • Furniture
  • Amenities
  • Size
  • Security
  • Parking
  • Available transit
  • Age of the building
  • Décor
  • Lighting

Know your assets

As a first-time renter, it is likely that you will need to think about items such as furniture, appliances, decorations, and other comforts. If the apartment comes furnished, you may not need to worry about as many of these factors, but it will usually cost more. Many rentals come with the larger, more expensive appliances, but the renter is usually expected to supply their own furniture and smaller appliances like a microwave and toaster.

Find a compatible roommate

Many first-time renters live with roommates and, while this can be a lot of fun, it also has the potential to be a nightmare if not done right. Jumping into renting for the first time with an unknown roommate might lead to a new friendship, but it often can have a quite different result. For this reason, it is best to research the person with whom you are renting and ensure that you are compatible. If you are renting with a friend, assess the relationship and make sure that it can stand up to sharing a living space.

Check the place out

Before agreeing to anything with the landlord, get to know the property. Make sure that no part of the residence has been misrepresented in advertising and find out who you will be paying. The lease needs to suit the timeline of how long you want to stay put, and it is worth bringing a rental deposit with you to check places out, because sometimes the rental market can be very competitive.

To find out more apartment tips for first-time renters, or to learn more about renting one of our properties, contact BE Investments at 604-855-0078 or fill out a contact form on our website.