So You Think You’re Grown Now?

I’ve always thought renting to be one’s first step at true independence and being what some like to call themselves, “A GROWN ASS WOMAN!” or “A GROWN ASS MAN”! While the law says this may be true at the age of 21, you have to ask yourself the question, “Are you ready to take all this on!?” Everyone’s life choices lead them down different paths and for some renting is an option to show their indepence in the adult world! Even with this new found independence comes preparation, see a few tips I share below on being renter ready.

Is it in your Budget, though?

A very serious question to consider. This determines how comfortable you can live. Identify how much you make a month and any expected expenses you could would have while out there on your own. Be realistic with those numbers as much as possible. Don’t forget that EMERGENCY FUND, you never want to be in a situation where you’re choosing between a car repair and your rent.

Rent is how much again? Security Deposit, what is that and why? I gotta pay for my pets too? Utilities matter too…

Upfront expenses are only a portion of the total costs associated with renting an apartment (ie…moving from one place to the other, deposits, possible first month and last month’s rent(is that still a thing?)). There are costs like utilities, parking, repairs and so on and so forth. Get clarification on repairs and maintenance (especially if you are living in a home rental property). Understand you will be responsible for paying gas and electricity, internet and cable, Don’t forget the subscriptions you may have for streaming services and also the cost to get back and forth from work or school. List out all your current and/or possible expenses as a renter, figure out what’s a necessity and forego the luxury’s at least the first three months or so to get acclimated to things….maybe even six. Financial surprises are no fun…as I’ve heard from so many, “STAY READY, SO YOU DON”T HAVE TO GET READY!”

Paperwork Needs to Stay Organized…Please and Thank You!

Most of this information may include your credit score, rental history, proof of income (pay stubs and/or W-2), and a social security number. In most cases the credit check will be performed by the complex management, but depending on your rental option you may have to complete your own credit check and there will be no need to provide your SSN at that point.

Oftentimes, you also have to pay an application fee, so be sure to only apply for apartments that you really like and are eligible for, because those fees can add up.

One of the most important things you’ll need, especially if your credit is less than stellar, is a rental reference letter. It can be obtained from your former managers, colleagues, roommates, or other reputable sources that know you well.

Now….while this list could run on and on and on…AND ON…but I’ll leave this last tip for ya!!

DON’T RUSH TO FURNISH YOUR PLACE ALL AT ONE TIME

Of course if you have the funds to do so, go with it, but it’s not like you need it right away. If anything furnish your place on a budget. Try those gently used items on a budget. Online shopping is perfect especially with this pandemic situation (article written during COVID-19/April 2020) in play. Give Wayfair and Overstock a try, they have some pretty nice pieces perfect for the first time renter! Don’t forget about Target, Walmart and other local spots in the city if you’d prefer to see it before you buy it!

If you’re interested in renting (if you’re moving to Texas give me a call) and have more questions click the link below to submit your information for apartment/renting locating services and I’ll be in touch as soon as possible but no later than the next business day!

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