First Time Renter Advice
Congratulations! You are moving out and are now own your own. This is no doubt a very exciting time in your life. Here’s some advice about what you need to know to make renting your first apartment a very positive experience.
Private landlord vs. Management Company
Before you start looking, you might want to decide whether you want your apartment run by a private landlord or a management company. There is an important distinction. A private landlord might be someone who rents their property for extra income while working full-time outside of the real estate industry. This could mean that the private landlord might not have the time to put into being available to their residents 24 hours per day. On the other hand, a private landlord might only have a few properties, and might be more apt to making exceptions to rules for individual renters. On the other hand, a management company is in the business for long-term. Management companies should always be available for their residents, and mostly have 24 hour emergency maintenance programs. Because management companies have many more apartments to manage, exceptions to rules are harder to make with management companies. Berger Rental Communities manages over 2,000 apartments in more than 10 communities across the state of Pennsylvania. We are professionals who have built our business on word-of-mouth advertising and resident referrals. We strive to ensure that our residents are happy in their new home.
Choosing a Roommate
Unless you landed yourself a really great job just out of college, you will probably need to consider getting a roommate to share expenses. Consider your friends list. Is there someone you already know that will be living in the same area who you would consider rooming with? The idea is to pick someone fairly similar to yourself. Find someone who keeps the same hours, who shares your level of cleanliness, someone who can afford his or her share of the expenses and someone you genuinely like to spend time with. This is an important decision and one that shouldn’t be made too quickly. If you need to look outside your circle of friends, consider local free ads such as community newspapers and local roommate matching services or online at Craigslist or Move.com to post an ad. Also consider checking the listings or create your own at Roomates.com, RoommateNation.com or RoommateLocator.com. Some of these services may charge you a small monthly fee. When evaluating potential roommates, it is important for you to check references, contact their previous landlord, and verify that they are responsible in regards to making payments.
Apartment Layout
There are many different apartment floor plans available. There are studio, one, and two-bedroom apartments with one or multiple bathrooms and other amenities such as dens, dining rooms, extra storage, etc…Take the time to review the different layouts available to you. Pick a floor plan that most closely fits your lifestyle today…and something you can live with for the next few years.
Compare Apartment Community Amenities
When looking for an apartment, it’s all about the complete package. Many Berger Rental Communities, for example, offer swimming pools, fitness centers, computer facilities, outdoor trails, etc…Take the time to compare offerings of several area communities and consider the potential savings if you don’t need a separate gym membership, for example.
Reserve your Apartment
Once you find the perfect apartment, act quickly. Reserve your apartment by paying a small deposit and completing the application for rental.
Application Fee
Once you place a hold on an apartment, the next step will be a credit screening and the application so you can be approved to rent the specific apartment you are interested in. Once you submit the application, you will generally be asked to pay a small application processing fee to cover the costs of ordering a credit report, checking references and processing your application. This fee is generally non-refundable. For more information about deposits, read Understanding Apartment Deposits.
The Lease Agreement
Once your application has been approved, and you are ready to move into your perfect apartment, you will be presented with a lease agreement. The lease is a legal document that is binding on both the resident and the landlord. It specifies the terms and conditions of the agreement and defines roles and responsibilities. Read this document over carefully. You might even ask a trusted relative or good friend read over it as well. The team at your new apartment community should be available to assist you with any questions and concerns that you might have about this document. Once you fully understand the legal agreement you are signing, go ahead and take the next step. In addition, all of your roommates will need to sign the lease as well.
Security Deposit
You will be required to put down a security deposit. This will be held by your landlord during your residency, and will be applied to the cost of repairing any damages to the apartment. After deducting the proper amount to cover damages and repairs, the remainder of the security deposit is refundable when you move out of the apartment. Terms for holding and refunding the security deposit should be spelled out in the lease. Remember this security deposit while you are living in your apartment; you’ll want to take excellent care of the apartment so it will be refunded to you when you leave. For more information about deposits, read Understanding Apartment Deposits.
Renters Insurance
Before you move in, you should obtain renter’s insurance. Some landlords require this. As an added service to our residents, Berger Rental Communities has partnered with a leading insurance company to offer you pre-approved, low-cost insurance protection. Information about this insurance company can be found at www.eRenterPlan.com. For more information about renter’s insurance, read Why Do I Need Renter’s Insurance?
Apartment Walk Through
Right before you are scheduled to move in, it is important to walk through the apartment with the leasing consultant. This allows you to confirm that all preparations have been completed and the apartment is prepared to your satisfaction.
Arrange for Utilities
Because utilities such as gas, electric, cable television, Internet service and telephone service will be placed in your name, it is your responsibility to call and order service before you move in. The leasing team at your apartment community should be available to assist in making these arrangements.
Furnishing Your New Apartment
Before moving in, you will want to give some thought to furnishing your apartment. The most important component is having a good bed. After that, consider hunting for furniture and supplies at garage or yard sales, thrift stores and the attic or basement of relatives or friends. You might also consider checking the classified ads in local newspapers or community advertisers. Beyond couches and coffee tables, you may also need to find a small table and chairs for your kitchen or dining room, floor lamps, area rugs and chairs for extra seating. Don’t forget to stock up on other basics, including a shower curtain, wastebaskets, cleaning supplies, mops, brooms, etc…If you prefer to rent furniture, your leasing team should be able to arrange furniture rental for you. For more information about purchasing a bed, read Purchasing A Mattress? There’s A Lot To It…
Arranging the Move
Once you have found your perfect apartment, completed the paperwork and have a move-in date in mind, it’s time to locate a moving company. Your leasing team should be able to provide you with several options of moving companies. Ask friends and relatives for recommendations. Unless you choose to pay for the very expensive packing service, you will be responsible for packing everything yourself. Consider purchasing bubble wrap and using it to wrap fragile items such as china, glasses or lamps. Liquor stores and supermarkets are a good place to find boxes, or you may decide to purchase new boxes from the moving company or a mailing store.
Why Do I Need Renter's Insurance?
This is a great question that we are asked frequently in our leasing offices. Most property management companies require that their residents hold a renter’s insurance policy. Regardless of whether it is required or not, all renter’s should have it. This is why:
What if a candle tips over and catches your apartment on fire? What if your neighbor upstairs accidentally walks away from a plugged bath and causes a major flood? What if your neighbor starts a cooking fire and it spreads to your apartment?
Everyday these ‘what if’ scenarios occur in apartment communities. So, what happens if a ‘what if’ happens to you? Well, if you don’t have renter’s insurance, you may lose everything! Your neighbor doesn’t have to pay for your belongings and your landlord isn’t held responsible. In fact, without renter’s insurance, even in accidents that you didn’t cause, you are held responsible for replacing your possessions. And, even worse, if you are responsible for an accident that causes damage to the property, loss to others, or even causes injury to an individual, you could be held liable…even to the apartment owner! The only way to protect yourself and your belongings is by enrolling in a renter’s insurance policy.
Renter’s insurance policies are very inexpensive. Depending on where you live, and the policy you choose, you might spend less than $100 per year on a renter’s insurance policy. As an added service to our residents, Berger Rental Communities has partnered with a leading insurance company to offer residents pre-approved, low-cost insurance protection. The eRenterPlan insurance program is designed specifically for residents of professionally managed apartment communities and is automatically available to all of our residents. Even if renter’s insurance is not a requirement in your lease, it is an essential part of renting. If you do not currently have renter’s insurance, consider obtaining it, and hope that you never have to use it.
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