Renting that first apartment can be exciting and a little bit scary. You will probably look at several apartments to find the one that has the location you want, includes the amenities you need and is affordable.
That’s the exciting part.
Before the landlord will hand over your keys, you’ll need to go through the process of signing a lease. Often times, you’ll also need to do an application before the landlord will rent to you. Be sure to understand all the details, fill out the application completely (and honestly) and ask questions about anything you do not understand before signing anything.
As you go through the process, remember that the landlord is running a business and you are the customer. However, unlike making a purchase at a store, this transaction will span a much longer period of time, and 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 (and your overall experience) more pleasant.
Here are some of the things you may encounter when applying for the lease:
Personal Information – You will probably need to provide information on your prior places of residence, your employment, contact information in case of emergency, information on your car and whether you have pets. You may also be asked about any legal record you may have.
Application Fee – You will probably have to pay an application fee which may be non-refundable. This covers the cost of the landlord processing your application. It’s worth it to ask your landlord if your application fee can be applied to your rent. You may not get it, but there’s no harm in asking.
Security Deposit – Once your application is accepted, the landlord will probably want a deposit that could equate to a couple months’ rent. The landlord holds this as security in case there are damages when you move out. Be sure to inspect the apartment before you move in to find any existing damages. Discuss anything you find with your landlord immediately, and make sure you are not charged for them when you move out.
Credit Report – It’s normal for a landlord to run a credit check on you before approving your application. This is one of the ways the landlord gets some comfort that you will pay the rent each month, based on your creditworthiness.
Guarantor – Depending on your situation, the landlord may require that someone else guarantees your lease. Remember, the landlord is in business to make a profit and he wants to make sure that the rent gets paid on time and that the apartment is well taken care of. It’s especially common of the landlord to ask this of young tenants who haven’t rented before. Don’t be alarmed or frustrated—ask a parent or guardian to be the guarantor.
Finally, be a good renter. Renters and customers that are pleasant to work with and pay their bills promptly usually get better service. A good relationship with your landlord can be important if things go wrong. Remember, your landlord is whom you are going to call if there is a leak in your roof at 3 a.m. or there’s no hot water. A good relationship may get the problem resolved easier and sooner!
Make your first renting experience a good one—check out this article for tips on avoiding 7 common mistakes among first time renters!