Renting your First Apartment
Renting your first apartment can be exciting and a little bit scary. You will probably look at several apartments to find the one that has the perfect combination of the location you want, the amenities you need and an affordable rent.
To get the apartment, you will have to apply for the lease. This involves filling out an application that asks for several types of information. It is important that you understand all the details, fill out the application completely (and honestly) and ask questions about anything you do not understand.
Keep in mind, the landlord is running a business and you are the customer. Your relationship with the landlord will continue as long as you live in the apartment. Starting the relationship on a good note and living up to your responsibilities as a renter can make the relationship more pleasant.
Here are some of the things you may encounter when applying for the lease:
Personal Information - You will need to provide information on your prior places of residence, employment, emergency contact information and whether you have pets. You may also be asked about any legal record you may have.
Application Fee - You will have to pay an application fee which may be non-refundable. This covers the cost of the landlord processing your application.
Security Deposit - Once your application is accepted, the landlord will want a deposit that may be equal to a couple of months rent. The landlord holds this as security in case there is any damage in the apartment when you move out. Be sure to inspect the apartment before you move in to identify any existing damage. If you find any, discuss it with the landlord and make sure you are not charged for it when you move out.
Credit Report - The landlord will most likely get a copy of your credit report before they approve your application. This is normal and is one of the ways the landlord gets some reassurance that you will pay the rent.
Guarantor - Depending on your situation, the landlord may require that someone else guarantees your lease. The landlord wants to make sure that the rent gets paid and that the apartment is well taken care of. Do not be alarmed or frustrated by this request. Your parent or guardian is usually the person to ask to take on this role.