Student Renter’s Guide

A popular article in the city of New York has established that almost 87% of students live off-campus, that is, they rent an apartment outside the school campus. Many students, especially new students, need to get themselves acquainted with the renter’s guide to avoiding scams. If you want to keep yourself safe when you are looking for dissertation help, check out this website.

Factors to Be Considered Before Renting

As a student that wants to rent an apartment, there is a need for you to consider some factors. It will help you to avoid costly pitfalls that tend to surface in the rental process. The following are questions you critically need to ask yourself before committing yourself to rent an apartment.
Factors to Be Considered Before Renting

What Can You Afford?

The average cost of renting a one-bedroom apartment in major cities of America ranges from $1,171 to $3,600, according to Business Insider. This figure is 32.8% of the annual expenditure of an average student.

The above data shows that aside tuition, housing is the most significant expenditure of a student. As a student, your budget for housing should not be above 30% of your net income.

Therefore, you must set a monthly rental budget with consideration of some other upfront costs like First and last Month’s rent, Security deposit, Pet deposits, and Holding Fees. Most times, property managers use this lump sum to reduce their student-tenant population. It is, therefore, essential that you make them part of your rental budget.

How Do You Choose A Roommate?

In an attempt to choose a compatible roommate, you need to consider some factors that can enhance your stay together. Such concerns are:
How Do You Choose A Roommate
Their source of income

  • Are they trustworthy? You need to be sure if you can trust them with your belongings
  • Their willingness to sign the lease contract and abide by it
  • Do they have pets, and can you cope with it?
  • Their social lifestyle and who they will invite over as a guest

What kind Of Property and The Rent Period?

As a student, you can either rent a house or an apartment. You need to understand the advantages and disadvantages that come with the two.

An apartment is more secure than a house because there is private entry to the building. Likewise, there will be few tenants compared to a house that is more spacious and contains more tenants. There is always privacy in an apartment compared to a house where hallways, trash rooms, kitchens, and living areas can be shared.

Before signing the lease contract, you must understand the rent period in a formal agreement which can be in any of the following categories:

  • Annual or one year lease
  • Half-year lease (6 months)
  • Three months lease
  • Month-to-month lease.

In the above categories, one year lease is always advisable for a student because it is cheaper because of its long term nature.

What Are The Documents You Need to Rent?

What Are The Documents You Need to Rent
Landlords and property managers will need you to tender some documents to protect their interests. You might need to make the following documents available:

  • Social security number and date of birth
  • Rental history and contacts of former landlords
  • Personal reference
  • Bank statement to validate income
  • Co-signer information in the case of insufficient history
Student Renter’s Guide was last modified: by

How to Take Special Care in Packing Fragile Items When Moving Home

Moving can become an overwhelming process that can leave you so much stressed out that you would prefer not to do it again. Packing...

12 Things You Should Prepare Before Moving

Changing houses can be a very exhausting task. Aside from all the physical labor, there’s also the emotional toll of leaving your old home...

Planning Ahead: Preparing Your Home for a Power Outage

As a child, the thought of a power outage often conjured up the idea of a spooky, but almost fun adventure. The use of...

What to Consider When Hiring a Moving Company

Most people hire a moving company because such a business has enough manpower and equipment to finish the job on time. The other advantage...

How to Work in the Construction Industry

Are you interested in a career in the building and construction industry or have you just finished a certificate IV in building and construction?...

7 Summer Projects to Improve Home Value

Summer is the perfect time to work around your home, and you might as well spend it doing projects that also increase the value...
Single Cloud Template – Home Decor was last modified: by