Choosing to live in apartment rentals, rather than buying a home or condo, is a great option for lots of people. Whether you just graduated college and don’t have the money for a down payment or just want to be flexible and not get stuck in one place, apartments for rent can be a great option. In fact, they are such a good choice that, “Occupancy rates are the highest they’ve been in 10 years,” said Doug Culkin, President and CEO of the National Apartment Association. “Nationally, they’re at about 96%, which is incredibly high.” Since that means great apartments can be tough to get, you should use a few helpful tips for apartment hunting before submitting a secure deposit.
Establish a Realistic Budget
What you will be able to afford and what you should expect to spend will vary depending on where you go. For instance, studio apartments for rent in Manhattan might be just as expensive as a nice three-bedroom in a quieter area. If you want to find a place that you like and can afford, you’ll have to work with a specific budget.
Check Out the Neighborhood
Though pictures online of the interior of an apartment might be great, it can be hard to tell if you’ll like a specific area. Realtors often place an emphasis on location, but you don’t know anything about a place until you do some research of your own. Spending some time in the area where you’re considering apartment rentals is always a good idea.
Be a Desirable Tenant
Since such a high number of people want certain apartment rentals, owners often are able to hand-pick their residents. As a result, trying to get an apartment you like might feel similar to a job interview. Being able to write checks right away and having parents or other “adults” co-sign your lease can help.
Do Your Own Inspection
Even if you aren’t an expert in home construction and think that studs are only handsome men and firewalls are only for computers, taking a look around and being thorough is always smart. Anybody can find cracks, holes, stains, and other damage and always looking for it is a good way to make sure you know exactly what you’re signing up for.
According to statistics from the NMHC, there are just under 94.5 million renters in the U.S. If you fall into that category, then you might find that renting, though convenient when you have a place, can be a hassle while you are looking. Using some great tips will help make it easy to find a great spot that makes you feel at home without completely draining your bank account. Read this website for more information.
