Securing Your Apartment
So you’ve found the perfect place. You’ve checked everything out and the place is sound, there’s enough hot water, it’s in a great location and you know this is it. Now you’ve got to secure the apartment! The following outlines some steps to take to make sure that the perfect place that you’ve found ends up being YOUR perfect place.
In order to make sure that you’re budgeting properly and that you’ll not only be able to afford the rent for the apartment but the utilities as well, call the utility companies that provide service to the apartment. Most companies will be able to provide you a record of the cost of the utilities paid in the past for that specific unit.
Ask the landlord for some references from either current or previous tenants of the building. Although the apartment seems like the perfect place, you’re also going to want to make sure that the other tenants in the building as well as former tenants have had good experiences with both the property and the property management. When you call these references ask:
- Why did you move out? (If former tenant.)
- How much are/were your utility bills? (Just to confirm what the companies tell you directly, or if you don’t get the information from the utility companies that you need.)
- Is the apartment/building cold in the winter or too warm in the summer?
- How are the other tenants in the building? (You’ll probably find that people are very willing to give you their opinion on this question. Just take the stories with a grain of salt and know that there are two sides to every situation. But, asking this question will give you an idea of the politics going on in the community. Things you’ll want to know in order to stay OUT of the way of arguing neighbors.)
- What do you think of the landlord? (See the comments in the question preceding this one. Same thing applies.)
- Is there anything else that you think I’ll need to know if I choose to live here?
Once you have determined that you do want this apartment, you’ll need to do the following:
- Get a copy of your credit report and make sure that it is accurate. Before you are accepted as a tenant, most likely, the landlord will run a credit check on you. Make sure that you’ve cleaned up some of your smaller bills and that there are no mistakes on your report. If there is something reported in error, call the credit reporting agency that you pulled your report from. In recent years, cleaning up your credit report has become much easier.
- You will need to fill out a tenant application at most apartment buildings. If this is your first apartment or if your credit score isn’t the most perfect, you might need to arrange for a guarantor. A guarantor is someone who will agree to be responsible for your debts or obligations if for some reason you’re not able to fulfill your contractual obligations.
- At most properties you are either accepted or denied within 48 hours. When you fill out all your paperwork, make sure to get the exact timeframe from building management.
Just two quick things to note when you’re ACCEPTED as a tenant:
1) When you take possession of the apartment, do a “walk around” to double check for any repairs that need to be made. Document these needs in writing and with photographs. Give a copy to your building management and keep a copy for yourself. For more information on what to look for, read our articles “Renter Rights”, “Tips for First Time Renters”, “Questions to Ask Before You Sign a Lease” and “What to Look for Before You Move In”.
2) Be prepared to pay for a security deposit (usually equal to the first month’s rent) as well as the full first month’s rent. If you’re moving in the middle of the month, you may also be responsible for the percentage of rent for the remainder of the month. Some apartment managers also require the payment up front of the last month’s rent in addition to the first and the security deposit. Check the terms of the lease as these details should be outlined therein.
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