Is it a good idea to rent an apartment?
Is it a good idea to rent an apartment?
The financial benefits to home ownership are often overstated. But renting has two big non-financial benefits that you shouldn’t overlook. Most importantly, renting gives you flexibility. Also worth restating is the freedom renting gives you from monotonous and expensive maintenance.
How do I look good on a rental application?
A great application and an even better first impression can help you get approved for a rental, especially in a competitive market.
- Be on time.
- Make an impression.
- Have references.
- Write a great cover letter.
- Be prepared.
- Be straight up.
- Follow up.
- Find a renters insurance policy to protect your belongings.
What do I do if I hate my apartment?
Contact your landlord. Your landlord or management company should be your next step in addressing any issues. It is their job to resolve tenant complaints, whether that means dealing with neighbors about problems they are causing or fixing problems like leaks, broken laundry units, lack of hot water, etc.
Are there any horror stories about renting a house?
This next story comes from a tenant horror stories thread on Reddit.com. A lessor in London rented to what seemed like a nice young couple, who diligently paid their rent on time in the beginning. During their lease, however, the woman got pregnant and quit her job causing the couple to no longer be able to afford the monthly rent.
What’s the worst thing that can happen when you rent an apartment?
A man with nice clothes and a nice car applied to rent an apartment. The landlord wanted to run a background check but the man said he needed to rent immediately as his wife recently died. The sympathetic lessor gave the guy a break and let him rent the unit with no background check.
Can a tenant stay in an apartment without paying rent?
As it turns out, the tenant had filed for bankruptcy prior to signing the lease, which meant he was legally not required to pay his rent while his case was in bankruptcy court. The tenant was able to stay in apartment rent-free for seven months. The landlord later learned that this man had apparently pulled the same con on various other landlords.
Is there a way to avoid getting a bad tenant?
Admittedly, there is no foolproof way to avoid getting a bad tenant. Even if the tenant has all the right credentials and requirements, doing background checks that include criminal records, credit histories, and other financial information is still the best way for landlords to avoid experiencing their own tenant horror stories.
This next story comes from a tenant horror stories thread on Reddit.com. A lessor in London rented to what seemed like a nice young couple, who diligently paid their rent on time in the beginning. During their lease, however, the woman got pregnant and quit her job causing the couple to no longer be able to afford the monthly rent.
A man with nice clothes and a nice car applied to rent an apartment. The landlord wanted to run a background check but the man said he needed to rent immediately as his wife recently died. The sympathetic lessor gave the guy a break and let him rent the unit with no background check.
How to rent an apartment for the first time?
Renting an apartment for the very first time can be confusing. First-time renters generally don’t know all the jargon and rental lingo used in an application as well as how to apply for an apartment. This “process” is actually pretty simple, generally involving filling out an application, a credit check, and paying a small application fee.
What should my budget be for my first apartment?
Continuing your budget plans, even after you move in, is a great way to grow your savings for rent, utilities, home décor, and more. You never want to spend more than you can realistically afford on rent for your first apartment. Spend no more than 30 percent of your gross income on rent.