Apartment Hunting Tips
Apartment Hunting can be very daunting for some potential renters. Often the variety of options available to these renters is a source of overwhelming frustration for the renters. With so many appealing options it can be difficult to choose just one. However, there are some tips which can help to ease the process of apartment hunting. The process of finding the perfect apartment can be broken down into three simple steps. The first step is to set a budget. Next the renter should research their available options and then comparison shop to determine which option is the best.
Set a Budget First
For many renters the most important consideration is how much they are willing to spend on an apartment per month. For this reason it should come as no surprise that the first step in the apartment hunting process should include establishing a budget. Renters should consider their monthly income and subtract out all of their monthly expenses from this amount. Monthly expenses should include all bills which are paid regularly as well as money spent on food, entertainment and miscellaneous items each month. The renter may also wish to subtract out an additional amount to allow for some savings each month as well as emergencies. The total left after these subtractions is the amount the renter is able to spend on an apartment per month. Once this amount is established the renter will have a better understanding of the type of apartment they are able to afford.
Research Available Properties
Once a budget has been established, the renter should begin researching the properties which fall within his budget range. It is likely to consider properties which are slightly above the range as well as properties which are slightly below the range. Doing this will allow the renter to see if there is an opportunity to either make improvements on the amount of monthly spending to allow for the renting of a more expensive property. The renter can also determine whether or not they feel there is the opportunity to negotiate a lower rental rate on a particular property.
When initially researching properties, the renter does not necessarily have to visit each property. Most of the pricing information can be obtained from resources such as Internet websites, newspapers and rental magazines. Since pricing is the primary concern at this point, the initial research will enable the renter to eliminate properties which are too far out of their price range.
Comparison Shop
Once the renter has narrowed down his list of possible apartment complexes to a more manageable number it is time to start visiting these properties. It is during this step that the renter will really get a feel for the quality of the apartment as well as the amount and quality of amenities offered by the complex. This is very important because this information can be used to decide between properties which are otherwise very similar.
The comparison shopping process is also worthwhile because it gives the renter some bargaining power in negotiating more favorable rent rates. Renters who have visited a number of apartments likely have a good idea of the going rate in a particular area for a particular size apartment. These renters can use this information to potentially convince some leasing agents to lower their prices at least a little bit. There will not likely be huge drops in price from these negotiations but it will likely be enough to be considered worthwhile.
David Riewe
http://www.articlesbase.com/real-estate-articles/apartment-hunting-tips-80707.html
Apartment hunting tips for a novice?
I’m a young man and I want to move out on my own. Anyone have any advice about looking for an apartment, dealing with landlords, paying rent, etc?
Thanks!!!
Also, tenant rights, tax filing info. I will be living in the Greater Toronto Area.
Find out if any of the buildings you are interested take section 8, if they do AVOID them. Try to tour whatever models are available. If the leasing agents are rude or not receptive to you, leave. Cruise by a few on Friday of Saturday night to see what kind of neighbors/problems you could have. Ask about leasing options (6 or 12 months) the security deposit, if they have any move in specials, and the length of notice you need to give to vacate. Before moving in ask another tenant if possible how long they have been there and how they like it, as well as what the turnaround is for repairs. If you cant pay rent within a 1-2 paychecks, then you are going to be overextended. Since you are young I suggest mid 3 digits a month. As far as dealing with the landlord, always be polite when asking for repairs etc. If the requests are not met then be firm but still polite. Find out if there is a property management company to refer to if necessary. Remember that space if yours, but its not yours… Don’t make too many holes in the walls, stains in the carpet, and kept clean. Many complexes will try to nit pick and eat away at your deposit when you move. Good Luck!
References :
go here:
http://www.ontariotenants.ca/
always pay your rent on time. Try not to be even a day late. They don’t like that.
when you look for apts., ask if you can have pets, if you have a pet, make sure you specify that in the lease so they can’t come back on you about it. If it is not in the lease, make them write it in and both of you sign it.
ask them if you have to pay first and last months rent. You usually do, and if you don’t have it, ask if they will take installments for last months rent. Some landlords will agree to that. get it in writing.
ask them if they will pay you interest on your last months rent at the end of the year. Not all landlords do that and it is something to ask about. Mine does and at the end of the year I get a small cheque from the landlord for the interest they are making on my last months rent. get it in writing.
visit the building at different times of the day so you can judge the noise level. During the day, most people will be working so it will be quiet. See how it is on weekends and nights, if noise bothers you.
ask if the landlord is on sight or if he lives somewhere else.
ask if he is approachable for fixing things.
take a good look around the apt and look for broken things or things that might need fixing and get it in writing when he will fix it.
it may sound silly, but flush the toilet and turn on the shower to check the water pressure.
this will be your home so you want the best you can afford. Even though they own the building or are the supers, it is still yours. If you don’t like the colour scheme, ask about repainting it yourself and if they will re-imburse you. If not, make sure you get it in writing that it is ok to repaint.
another silly thing to ask, is if anyone died in that apt. I don’t know about you, but that creeps me out. Most will be honest, but you have to take your chances.
..if you need anything fixed in the apt., be polite about it and if they say they are coming on Tues and they don’t, then call and find out why. If you don’t get a satisfactory answer, then send a letter to them outlining what you want fixed and send it registered mail.
…you can’t hold back the rent for that reason. You live there you have to pay.
…ask if hydro and water and electric are included in the rent.
if not, then ask them for an estimate on how much they think that will be extra.
…ask about laundry facilities in the building and their times of use
…ask if you have to pay for the parking spot
…ask about smoke alarms and noise rules
…I am sure there is more, but I can’t think of any right now.
go to that website and it will give you tons of info.
good luck
References :
Make a list of what you want in an apartment.
Ground floor or upstairs?
Pets or no pets?
Kids or more adult complex?
Big apt. in an okay neighborhood or smaller one in a great neighborhood?
Are their shops nearby – grocery stores etc. that you could walk to if it is snowy or your car breaks down?
How is the parking on the weekends? You don’t want to always be looking for a place to park your car because there are too many in the lot.
How old is the apartment? The older the building the more problems you can expect.
Beware of great lease specials – this usually means that they have to lower their rents to get people in because that is the only way they can lease the apartments.
Check the apartment complexs you are thinking about on the weekends – you can see how crowded it is and if it is an environment that you will feel comforable in.
To get along with a landlord usually you just have to pay your rent on time and don’t have loud parties. Respect your neighbors and the property and you will do just fine. Make sure you can afford the apartment before you sign the lease, because once you sign it you are legally bound to the terms and conditions on the lease.
Have fun – there’s nothing like shopping for your first apartment!
References :