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!