NEWS

Four Things to Consider for First Time Renters

Renting an apartment for the first time can be an exciting yet overwhelming experience! We, at Robert Hancock & Co., want to be able to assist you in any way that we can. Here are some tips to help you get started on this rental journey.

Decide on your Budget – This one seems like a no brainer! It is super important to determine how much money you are willing to spend on an apartment. The US Department of Housing and Urban Development suggests that you spend no more than 30% of your gross income on rent. You can get a roommate or pick up a part-time job to help cover the costs that come with getting a place of your own.

Decide on Location – Think about what is important to you in the location of your apartment! Do you want to be close to work, school, or your family? Is the neighborhood friendly, safe and convenient? Do you want to be within walking distance of the hustle and bustle of the city? It is up to you to decide on what will make you the happiest and most comfortable in your new home.

What is Your Make-It or Break-It Necessity? What can you just not live without? Decide on whether you can see yourself in an apartment without a pool. Think about how nice it would be to have a washer and dryer in your unit instead of having to go to the laundromat. Do you need to have security patrolling at night? What would make you change your mind if it was missing that one amenity?

Know the Apartment’s Expectations! If you have never rented before, it’s very important to know the expectations of your new apartment. Most apartments will need to do a check to see if you have any criminal offenses, bills in collections, rental history, or if you even have credit at all! Know what is expected of all applicants, and be sure that you fit all criteria needed to get approved for your new home!

Hopefully these topics will make you think about what is most important to you when finding your dream apartment!