Moving to a new city brings a myriad of emotions. You’re excited to start a new chapter of your life, but are also anxious about navigating the unknown. Finding a place is one of the main causes of stress.
This guide will help you overcome that. Here are seven things you need to know before renting an apartment in a new city:
1. Total Budget
Renting prices greatly vary. You will find numerous price ranges even in the same neighborhood. This is why it’s important to have a budget in mind when looking for apartments for rent.
Take a closer look at your finances, including your income and liabilities, to determine how much you can comfortably pay in rent. From there, you can narrow down to an apartment type. This could be a private studio, serviced apartment, co-living accommodation, or a luxury apartment.
2. Location & Proximity
Next, know how far the apartment is from your work or school. Moving to a new city means you’ll take some time to figure out the transportation system. Choosing a place that’s a short distance from your workplace will help you save time and money.
3. Lease Details & Costs
Once you’ve shortlisted a couple of apartments, it’s time to get into the details. First off, break down the total costs of renting an apartment. This will include:
- Rent
- Security deposit
- Application fee
- Move-in fee
Then, read the lease thoroughly. Pay attention to sections like:
- Lease length
- Late rent policies
- Renewal options
- Early termination penalties
4. What’s Included
Next, know what facilities and amenities are included in the rent. Our advice? Choose a rental company that offers an all-inclusive flat rate. This will typically include:
- Utilities (water, heat, electricity)
- Furniture and appliances (fridge, stove, microwave, dishwasher, washer/dryer)
- Internet
- Parking
Your lease agreement should also include access to amenities, such as:
- Fitness centres
- Pools
- Gyms
- Communal areas
- Co-working spaces
- Pet facilities
An all-inclusive rental agreement would save you from unnecessary hassle. You don’t need to worry about hidden fees.
5. Security Measures
As someone moving into a new city, you’re bound to have security concerns. Pay close attention to the security measures and policies enforced by the rental company. Here are some ideal features:
- Controlled access. The building’s main access should have a secure access control system, such as keypads and keyfobs.
- Surveillance system. High-resolution CCTV cameras should be installed in common areas such as lobbies, hallways, stairwells, laundry rooms, and parking lots.
- Adequate lighting: All exterior and outdoor areas must have adequate lighting to ensure high visibility.
- Biometric entry: Every apartment should have a keyless or biometric entry system, such as a fingerprint verification.
With the right security measures in place, apartment living can be convenient and stress-free.
6. Environment & Neighborhood
Know the neighborhood you’re moving into. Check official resources to review crime rates in the area. You can also find reports comparing the data to citywide averages.
Next, consider the full affordability picture, not just the rent. You don’t want to move into an area where rents have historically increased. Browse neighborhood Facebook groups and local guides to understand the overall vibe of the community. Consider traffic levels, noise levels, and related factors.
7. Co-signer Policy
In some cases, a rental company might ask for a co-signer before renting you the apartment. A co-signer is a guardian or a close relative who agrees to take on the financial responsibility if you are unable to pay rent. The co-signer policy would typically apply if you have poor credit or rental history.
Questions To Ask Before Renting An Apartment
Still feeling on the fence? Here are some questions you should ask the rental company before submitting the deposit:
- What are the lease terms?
- How soon can I move in?
- Are there any monthly costs in addition to the rent?
- What is your pet policy?
- Are there any move-in rules?
- What appliances are included with the apartment?
- Who has access to my apartment?
- Are the locks changed when a tenant moves out?
Asking questions will help you make an informed decision.