We all want our cozy little spot under the sun, but what makes the perfect sanctuary for you? A renter’s life can sometimes feel like you’re never quite as much at home as a property owner, but it doesn’t have to be that way.
The trick to feeling “on your own turf” in a space that’s technically someone else’s is in how you approach your search for the perfect rental.
Analyze your needs
The factors that were important to you when choosing your previous apartment might’ve changed, so review your lifestyle. Consider costs, size, location, transportation, amenities, and services. Divide them into must-haves, occasional necessities, and optional nice-to-haves.
Do you value privacy and want separate rooms, or prefer open-concepts that are easier to navigate? Do you work from home or have visitors often? Consider extra rooms to accommodate guests, clients, or an office setup. What appliances do you actually use and are they included in-unit?
When you rank your demands by importance, it’s easier to be flexible. You have a clearer idea of what you might be willing to trade, e.g. giving up a city center location and agreeing to a bit of a commute in favor of a quieter neighborhood that still has good connectivity.
Future-proof your budget
Budgeting for deposits, rent, utilities, furnishing, and decor altogether can get quite overwhelming, so take a moment to make a list of priorities. As a renter, you have a fair amount of freedom to redecorate without losing your deposit for altering the space. That means you can achieve a pretty high level of comfort without ruining your finances.
Multiply your total monthly expenses by 3 and set that as your savings goal. This money will cover any unexpected spending when you move in (e.g. something suddenly needs repaired). Whatever you have left over the savings mark is your furnishing budget.
Start with items you functionally need and add aesthetic touches later. Also, remember to shop around. Thrift stores, online marketplaces, and second-hands can save you hundreds compared to outlets and retail.
Bigger isn’t always better
The size of apartment rentals isn’t the primary factor that decides your comfort – it’s their layout. Having more room is worth very little if it isn’t utilized well, especially if you can’t do much to adapt it to your needs.
Sure, you need enough floor space to accommodate your furniture and bulky appliances but other than that, pay attention to the anatomy of the apartment. Do the transitions from room to room make sense? Do the windows allow maximum daylight, or will you up your electricity bill with all the artificial lighting that you’ll need to function?
Are there wasted nooks and vertical space that could’ve been storage? Are the sockets in awkward spots? You can always improve the aesthetics, so focus on the baseline functionality.
Become a strong negotiator
A key consideration when you’re deciding between renting or buying property is the other party in negotiations: a real estate sales agent vs. a landlord. One is usually a one-time middleperson, the other you’ll have to deal with for the whole duration of your lease.
Remember that landlords are business owners first and foremost. Be precise and well-informed. Research your rights as a tenant in your state or county. Read up on the legal powers of landlords and the restrictions that apply – some won’t bother to tell you how far they’re actually allowed to go.
Gather all your relevant documentation: bank statements, credit reports, references from employers or past landlords, etc. This demonstrates that you’re able to make your payments on time, that you’re reliable and thorough, and that you have people to testify to your credibility and trustworthiness if necessary.
Don’t neglect pre-moving setup
When it comes time to move into your new apartment, remember that there are a few last things to take care of in advance. First, contact your new landlord for one last paperwork check. Get your payment arrangements in writing, as well as a copy of your lease and any policies that’ll apply to you as the tenant.
Next, get in touch with utility companies. Set up water, electricity, heating, and internet services in your own name and make sure they all function properly before move-in day. Then, update your address with your post office, bank, employer, doctor, mobile service provider, delivery services, etc. Make sure your mail will find you at the right place.
Finally, consider getting renter’s insurance. A smart policy will protect your belongings from theft or damage, fund your living expenses if there’s a fire or other catastrophe, and mitigate your liability if there’s property damage or anyone gets injured in your apartment.
In conclusion, “home” is mostly a matter of mindset. After all, even homeowners pay (taxes, mortgage, maintenance, etc.) for what they own just like you pay rent.
Approach apartment hunting from the standpoint of your own needs, and don’t settle. Think long-term, negotiate for the things you prioritize, and remember that you have as much power as any landlord.
By Mike Johnston