Prepare for Initial Costs
You’re going to pay the rent and possibly other fees each month, but you should also be prepared for initial costs. The cost of moving into a room can be high with one-time costs that you may not anticipate. For example, you may pay an application fee, a month’s rent for the deposit, and other potential fees. If you want to be completely prepared financially, it’s a good idea to have a couple month’s rent saved up in advance. This will provide you with a window. When you’re starting to look for flats to rent, you should be prepared for initial fees.
Know the Long-Term Costs
Once you get into the room, you may be budgeting only around your rent payments, but there are likely going to be additional payments as well. Your rent probably only covers a part of your living costs. For example, most rentals don’t cover the cost of utilities. Depending on where you rent, some or all of your utilities may be included.
Before you rent a room, ask for the costs of heat, gas, electricity, and internet. Include these amounts in your budget and then ask which utilities are included in your rent. Your landlord may not be able to provide the exact numbers but should be able to give you an approximate idea. It’s also a good idea to ask a potential landlord what other costs are required for renting a room. Many landlords require that their tenants have renters insurance. This is not a large cost, but you’ll need to include this in your budget as well.
Finally, although you may not need to include these costs in your rent, make sure that your budget includes rent-related costs and overall costs of living. This should include groceries, fuel, vacations, and other costs. Looking at your budget will give you an idea of what type of flat you can afford to rent.
Determine What You Need to Rent
Before you can actually rent a place, you’ll need to provide your potential landlord with specific documents. Landlords want to know that they are renting to tenants who can afford the cost of rent and will be respectful and reliable people. Documents may include pay stubs, a background check, and references. These are a few examples of commonly needed documents but this list is certainly not exclusive. You may need more documentation as well. Your rental application will have a list of documents that are needed. However, be proactive and make sure to have this information on hand before moving forward. For example, keep a few copies of a recent paystub. It’s also a good idea to ask a friend or coworkers if they would be willing to be referenced on an apartment application. If you’re renting in a competitive market, having this documentation can help you through the rental process.
Furnishing Your Apartment
If you’re going to be renting a place, you need to have some of your own furniture, dishes, and other amenities. Many people move into their own place and forget to have even the essential items. When you move in without a bed, for example, you may find that it’s much harder to live as an adult.
There are many things that you can live without but most people need a bed, couch, table, and chairs. You will also need towels and linens, cookware, dishware, and basic cleaning supplies. You may need additional items as well but you can probably get by for a period of time. You may want to write up a list of the items that you already have and use that as a starting point. Buying these items can seem expensive so you may be able to purchase them used. Many times, family members or friends will periodically get rid of extra furniture so ask for any items that may be harder to find on your own.
Know Your Lease Term
When you decide to rent, you’re going to need to sign up for a lease. This is a rental agreement that states how long you’re going to be renting. Most rental agreements are for 12 months although there are always exceptions. Your landlord may only be willing to rent for a pre-determined time, but you should consider how long you want in your lease. For example, if you’re only going to be in a specific location for 6months, finding a 6-month lease would be ideal.
Know Pet Policies
Plan for the location
Before you even start looking for an apartment, you’ll need to determine where you want to live. You may have a certain area that you need to live in. Your transportation options can also be determinants of where you can live. If you rely on public transportation, you may need to limit your search to spots that are close to buses or trains. If you want a commute that’s not very long, you probably will want to only search within a certain distance of your job. Make sure that you consider these areas before you search for an apartment. Review areas where you could or could not live to help narrow down your search.
Although moving into your own room can seem like a stressful project, a little planning can help to streamline your search. Many people find that they actually enjoy searching for their own place. You may find that the process is exciting as well but you’re going to have a better time by doing some planning ahead of time. Use this information to get ready for moving into your own place
