Common apartment renting mistakes
As we dive into 2024 and look toward new beginnings, millions of renters are beginning the search for a new apartment. Finding the right home is a complex process. With a kaleidoscope of factors to consider before moving, many vital steps tend to get overlooked, resulting in bigger headaches for the renter down the road. For both first time renters and those looking for an upgrade to their current apartment, every detail of the process needs to be properly addressed. Read on to learn about common mistakes that renters can avoid to ensure that they find the perfect home and get to enjoy the best living experience possible!
Apartment hunting is meticulous, and it is highly advisable to have a thought out plan from the outset of the journey. Before booking any tours, consider the following:
Mistake 1: Neglecting Personal Needs and Wants
Apartments earn the title of home by serving the lifestyle of their residents. Before you type in “apartments for rent near me” in the search bar, list out your wants, your needs, and boundaries that automatically rule out a specific apartment for you. For example, if you are a pet owner, finding a pet friendly apartment is an absolute must! If you’re an active person, you may consider putting a fitness center at the top of your list of wants. The stress of finding a home can often cause us to make compromises, but specific needs for a home are incredibly important. Neglecting them could mean having to relocate to a different home sooner than you’d prefer.
Mistake 2: Looking at the Last Minute
If your lease is expiring in the near future and you are hoping to find a new apartment, it is important to start your apartment hunting as soon as possible to have the best chance of finding your dream residence. Even if your moving plans are not immediate, beginning the preliminary search process now could be a wise decision as some communities have long waitlists. Waiting too long to start could mean ending up stuck between homes or stuck in a lease you don’t want to be in. Give yourself plenty of time to shop and tour apartments, save up for the security deposit, and plan on the process taking more time than anticipated.
Mistake 3: Under Budgeting
Perhaps the biggest factor to consider when looking for apartments for rent in your area is budgeting. One common oversight is to merely measure the listed rent price against your monthly income. In reality, there are several considerations to make when determining what rent you can afford. First, research what utilities will be included in the monthly payments and which you are responsible to pay and calculate how much that will cost. Create a budget of your entire take home pay and subtract all monthly expenses, including car payments, groceries, gas, savings, subscriptions, and any other regular expenses. Use the opportunity to reevaluate expenses that you may be able to cut out. From there, subtract your monthly rent, utilities, and other home expenses to find your expendable income and consider if the amount is enough for you. Tools such Rent Cafe’s Rent Affordability Calculator can also help you determine what range of apartment rent prices is best for you.
Mistake 4: Renting Before Touring
Photos and floorplans are wonderful tools to give new renters a general idea of the look of a property, but they are unfortunately limited in showing all of the details. Before deciding which property or floor plan is right for you, it is important to see the community for yourself. Virtual tours are also great options for busy prospective renters to help get the application process rolling, but it is still advisable to tour the apartment in person first. All of our beautiful properties, such as Strada Apartments, offer in-person tours that can be scheduled with the management team.
While visiting the property, you can get a fuller picture of the community and what amenities are available to residents! Make sure to request to see all amenities for yourself, such as laundry facilities, swimming pool, or clubhouse if available. Take note of how available the maintenance and management teams are and ask about the best ways to contact them. At QRM Corp., we provide on-site management and maintenance, and every property has a 24-hour emergency maintenance line available.
Consider the layout of the unit you are shopping for during your tour. Many renters make the mistake of thinking that more square footage is automatically more desirable. However, certain floor plans can be more suited to your lifestyle needs! Before renting an apartment, take measurements of the apartment features and your furniture. Can your furniture fit through doorways or will you need to buy some new items? Map out how you would lay out your furniture in the different floor plans to see if it will fit and flow well.
Westlake Village is located just minutes away from world famous Newport Beach and Huntington Beach.
Mistake 5: Overlooking the Surrounding Area
After touring the property, take a tour of the neighborhood to get to know what the area has to offer. Never overlook the importance of location. It may sound trivial, but ask yourself “Can I see myself living here?” How you answer could be a determining factor for applying. Are there grocery stores and gas stations nearby or will that require extra travel? If you have kids, which schools are in your district? How long is the commute to and from work? Questions like these may feel less weighty in the heightened excitement of shopping for a home, but considering them early on can save you stress in the future.
Mistake 6: Skimming Over the Lease Agreement
One of the most exciting moments of renting an apartment is signing the lease agreement! After a long search for just the right home, you may feel tempted to sign your name and agree to any terms. Failing to fully understand your lease agreement, however, can cause at best, future misunderstandings and at worst an unexpected violation of your lease. Make sure to take time to read the contract carefully. Keep an eye out for bigger issues such lease term lengths and even smaller details like patio furniture and door decoration allowances to ensure you know exactly what’s expected as a tenant.
Don’t be afraid to ask as many questions as needed. Many renters make the mistake of not asking enough questions before signing a lease. It is best practice to make sure you understand the ins and outs of your new home before residing. Ask questions about noise levels, how to contact management and maintenance during off hours, parking policies, and any other important topics that come to mind. Keep a list of questions as they come to you so that you remember to ask when sitting down with the community manager. Don’t ignore the little details. Some renters think they shouldn’t sweat the small stuff, but when it comes to your home, little details make a big impact on the quality of living.
Mistake 7: Neglecting a Final Walk Through
Before moving into your unit, schedule a final walk through with the manager. Take note of and mention any condition issues you notice. It is wise for you and the manager to document any damage you find before you move in. If you fail to note and document damage, you could be held liable for that damage upon move out, regardless of if you caused it. This also gives the maintenance and management team the opportunity to fix any issues that may have been missed in previous inspections.
Mistake 8: Not Preparing your Security Deposit and Cosigner
After a long apartment search, the last thing that you would want is for the process of acquiring the home to be delayed. If you are currently apartment hunting or even just considering the possibility, begin saving for the security deposit now. If you will need to cosign for the lease, make sure your cosigner is ready to go with all paperwork in order and that they are available when the time comes to sign. Failing to have either the deposit or a cosigner ready to go could delay your move in significantly or risk you losing the apartment.
The apartment search is a complex process, no matter where you live. Many renters find themselves in pitfalls by falling for a plethora of common and avoidable mistakes. As you search for a new home, follow the above guidelines to ensure your renting process is as smooth and stress free as possible! If you are looking for a new home this new year, check out our portfolio of Southern California properties and schedule a tour with QRM today!