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If You Are Renting an Apartment for the First Time, Here are some Things You Should Know

Dec 4, 2018

So you have saved up some moolahs and have been hired in a good company. And this is finally your time to become a renter for the very first time in your life. If you are wanting to leave your nest on a strong footing, then there are some factors to consider. Take into consideration that moving out of a house also means learning to pay the bills on time and rent billing should always be the highest priority when it comes to spending your money.

  1. Budget smart to keep the hassles at bay

Determine the amount you can afford to pay for the rent. The rent should be less than 30 percent of your income. Being sure that you can afford the rent is essential. In most of the apartments for rent in Phoenix, there is no grace period to pay the rent. If your landlord lets one, it will be written into your lease. He may also charge late fees on the rent. It is usually a small percentage of the rent. Also do not forget to make notes about deposits, policies and the utilities landlord pays. Remind yourself of the amenities and disadvantage for each unit before you make a commitment.

  1. Make a good impression on the landlords

When you are ready to rent an apartment, bring all the paperwork required. If you have no credit or rental history, you can:

  1. Show income and dates of employment. Give contact information for at least one work reference.
  2. Have at least one bank account. Show your financial planning by having the first three months of your rent covered.
  3. If you have someone to co-sign for you, take them along as well. Also have a co-signer agreement ready.
  4. Bring along contact information for two or more character references like teachers, mentors or friends.

  1. Securing your first apartment

A lease is a legal binding document. Make sure you understand what is covered in the lease agreement. Ask your landlord or lawyer any questions before you sign an agreement. If you take good care of the property and pay heed to the lease, then you might be able to get all the deposits back when you move. After all the agreements have been signed, involve a co-tenancy agreement too. When all is done and signed, you are ready to move into the apartment.

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