KHOI | Blog

Guide to renting

Fri, Nov 10, 2023 · 2 min read
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I’m about to graduate and looking to rent an apartment. Here’re some takeaways that I learned from these videos:

Check them out!

Apartment vs Condo

Apartment Condo
1 owner for entire complex Separate owner for each unit
Likely to raise rent Less likely to raise rent; more responsive to repair requests

Cost of renting

There are fees to consider:

  • Application fees
  • Parking fees
  • Pet fees
  • Move-in and move-out fees

Pro tip: avoid buying new furniture and ask about utilities cost.

Evaluate the unit

Check the area: neighborhood, pests, etc.

Consider buying renter’s insurance.

Record a video of your unit before you move in.

Do not pay a deposit or sign a lease until you have visited the place!

How much rent can you afford

Use after-tax income for your rent budget.

Rule of thumb: 25% of your monthly take-home pay after taxes

Try out this calculator!