So here you are, a first-time renter! Congratulations! You are onto your next big step toward independence, and this is a moment to bask in pride. But renting comes with significant responsibility. After all, you are entering into a legal contract, and there is quite a bit of money at stake. So today, we will focus on 5 key tips that can help you navigate this new venture as a first-time renter. Let’s get started!
First-time Renter? 5 Helpful Tips
Your new lease has deep implications that will impact every nook and cranny of your life. Luckily, the property managers in Northern Virginia can give you a jumpstart towards understanding it in simple terms. Here are 5 basic tips that will help guide any first-time renter through the process.
1. Examine Your Lease
Leases are legally binding contracts that have far-reaching effects on your tenant’s rights and responsibilities. This can show in subtle, sneaky ways, so you should soak up every word of this document. This way, you can stay legally compliant and make sure that your landlord does, too. Pay special attention to the following clauses.
Lease Clauses to Remember as a First-time Renter
- Guest Policies: Different landlords have different rules for how many people you can host in your apartment and for how long.
- Right of Entry Agreement: Unless you want strangers to barge in unannounced, you should sign a written agreement that dictates when you will allow government employees to enter your home.
- Late Payment Fees: Landlords could punish you with fees if you pay your rent after its due date.
- Early Lease Termination: In different states and towns, different laws dictate the reasons and periods when you or your landlord are allowed to terminate a lease early.
- Renewing Your Lease: You will want to know if, when, and how you can renew your lease.
- Maintenance: Tenants have a legal responsibility to keep their units in good shape. Landlords are also liable for implementing your basic needs, like heat and repairs. You will want to find out which types of maintenance your landlord will cover, as well as the types you’ll handle when renting a room.
- Notice-to-Vacate Policies: Depending on the jurisdiction, you legally must let landlords know within various time frames that you want to vacate the premises.
As a first-time renter, you should ask your landlord questions about unclear areas or hidden charges, like water bill fees, trash fees, and amenity fees. These fees add up, and you have the right to be ready for any thrown your way. With this, you won’t be caught off-guard when you look at your bill later.
2. Plan Out Your Monthly Expenses
Your financial stability is key to independent living and responsible renting. However, staying on top of every single expense can feel easier said than done. You can achieve efficiency and organization with a little bit of work. The best way to do this is to set a stable budget, one flexible enough to make room for the unexpected. Some of these monthly costs can include the following.
Apartment Checklist of Expenses
- Moving Expenses – When you move your books, furniture, and other belongings, costs can add up to a high amount of money. This can be in the ballpark of $300 to $600.
- Monthly Rent – At the most fundamental level, you should funnel your money towards paying your base rent.
- Utilities – Sometimes, utilities are bundled together with the rent. However, if this isn’t the case, you must account for water, gas, heat, and electricity. There are ways you may be able to save money on these features.
- Internet and Streaming –The Internet’s cost can differ based on provider and location, ranging from $60 to $200. Furthermore, streaming services will accrue other fees.
- Loan Payments –Some people have student loans, credit card debt, and other payments they should compute into their budgets.
- Parking and Transport –If parking fees are not included in your rent and you use a car, you should factor these fees into your budget. However, if you do not have to park your car, think about the metro, bus, and other public transportation fees.
- Groceries and Other Costs– First-time renters should think about groceries, leisure, insurance plans, phone plans, and sudden financial issues that could pop up.
3. Photograph Your Apartment
Ensure that you take photos of any property damage in your new apartment once you move in. Landlords who don’t know these damages were there upon arrival can charge you for the marks. You don’t deserve exorbitant fees because of someone else’s mistake. For example, you should photograph carpet stains or floor scratches. Then, give your landlord those photos as quickly as possible and store them for any possible disputes.
4. Get Basic Furniture
You need to ensure that the furniture you currently own fits into your space. For instance, it’s a good idea to measure your furniture and compare it to your apartment’s dimensions. This should include areas people might not often think of, like entryways, elevators, stairwells, and hallways. That way, you have all your bases covered.
5. Move-In and Move-Out Policies for First-time Renters
Commonly, there are policies restricting move-in and move-out schedules. Landlords may only let you move in or out on certain days or times. This rule can completely change your plans, so you should remember it. If you do not plan around it, you could face fines or waste valuable time waiting for the next approved period.
Let Property Managers Help You
No matter how cool, calm, and collected you are, renting a new apartment for the first time can feel daunting. Luckily, you do not have to handle it alone. There are professionals like us whose job it is to work with you, to make your transition as smooth as possible. We can advise you on the policies and procedures you need to follow. You can come to us with questions and concerns about maintenance, fees, and all sorts of other rental topics that will inevitably come up as you learn the ropes of being a renter. Contact us today to have pros on your side as you begin your rental journey.
