Figure Out Your Needs

The first step of any apartment search should begin with the potential renter carefully identifying all of their needs in an apartment. This list of needs will be different for every renter. While some renters are simply looking for a place to eat, bathe and sleep other renters may be looking for a living space which will serve a number of purposes including working, entertaining and participating in leisure activities or hobbies. When making this list of needs the renter should consider the options they cannot live without as well as the options they want to have but can live without. It is important to make this distinction because the renter will want to ensure the apartment they choose has all of the features they need and ideally a few features they want. However, an apartment which does not have all the required features may become an uncomfortable living situation very quickly.

Do Your Research

Once a renter has a good idea of the basic features he is looking for in an apartment, he should begin researching his options. Researching apartments can be done on the Internet, through the newspaper or through rental magazines. Renters may use one of these research methods exclusively or may combine a few of the methods to form a customized strategy for researching apartments. The research phase will give the renter an idea of the types of properties available for rent in the area.

Comparison Shop

The next step is the process of comparison shopping. This basically entails visiting several different rental properties and touring these facilities. During the tour the renter will get a good idea of available options as well as the costs associated with these options. This is helpful for two very important reasons. First it gives the renter a good idea of the types of apartments available within their budget. Second it gives the renter the ability to bargain regarding price. Renters who have proof of other apartment complexes offering more favorable rental terms, may be able to entice another complex to lower their prices slightly.

Ask for Recommendations

Renters can also help themselves in their search for an apartment by seeking recommendations from trusted friends and family members. These recommendations can be taken to be much more worthwhile than recommendations offered by the apartment complex from previously satisfied tenants. It is important to note the apartment complex is likely to only offer testimony from tenants who were happy with their rental agreement. For this reason, opinions offered by friends and family members are much more valuable because they do not have a vested interest in the rental property and simply offer their honest opinion. Friends or family members who share your interests and personality traits can be very helpful in offering recommendations for apartments because it is very likely you will be happy with the apartment they recommend.

Consult the Better Business Bureau

Finally, renters should consult the Better Business Bureau (BBB) before making a final decision and choosing an apartment complex. This can be very helpful especially if the renter finds a particular apartment complex has a number of unresolved complaints against them. While a lack of complaints is not necessarily an endorsement, it is a good sign if the complex has been in business for number of years without a slew of unresolved complaints.

The Advantages and Disadvantages of Renting a House

There are many advantages to renting a house as opposed to an apartment. One of the primary advantages is this situation affords renters who would normally be unable to afford to purchase a house the opportunity to live in a house for a much more affordable price. Another advantage to renting a house is it may offer the renter many more options. Apartments are usually pretty standard in terms of size, number of bedrooms and number of bathrooms. Renters who have specific needs such as five bathrooms and three bedrooms may have a difficult time finding an apartment with these specifications but may find rental homes which offer these options.

Location is often another advantage associated with renting a house. Apartments are usually situated in more commercial areas while houses available for rent can usually be found in more residential areas. Many renters favor this situation because it makes their rental property feel more secluded. Many house rentals also include a backyard which is desirable for renters with children or pets.

One of the major disadvantages to renting a house, is there may not be a great deal of certainty regarding the amount of time the renter will be allowed to rent the house. While a contract may protect the rights of the renter for a certain period of time, there are no guarantees the homeowner will extend the contract beyond the existing terms. This means as the contract is due to expire; the renter may be given notice that the house would not be available for rent in the future. Conversely, this situation is rare in apartments and most renters are confident there will be the opportunity to renew their lease each time it expires.

The Advantages and Disadvantages of Renting an Apartment

Perhaps one of the most significant advantages of renting an apartment is the amenities which are often available when renting an apartment in an apartment complex as opposed to renting a home or even renting an apartment in a private home. Amenities such as pools, hot tubs, exercise rooms, saunas, meeting rooms and theaters are just a few of the amenities often offered when renting an apartment.

Affordability is another advantage to renting an apartment. Rent for an apartment is usually significantly lower than rent for a house. Although the apartment may be significantly smaller than the house, many renters find they are only able to afford these options.

A lack of privacy may be one of the most significant disadvantages to renting an apartment. Apartments are usually situated fairly closely together and most apartments usually share a common wall with one of their neighbors. Renters may find their neighbors end up knowing a great deal more about them than they had intended simply because the living situation makes it difficult to keep one’s life private.

Having to contend with noisy neighbors is another downfall to renting an apartment. As previously, mentioned apartments often share a common wall with a neighbor. As a result renters may run the risk of having noisy neighbors who listen to loud music or have boisterous friends visiting late at night.

Renters who are interested in finding an apartment should consider a number of factors. These factors might include their budget, location, requirements and desires. The key to finding an ideal apartment to rent is to strike a balance of these factors. For example a renter may desire amenities such as a pool, hot tub, sauna, steam room and onsite theater but these options may not be available in his budget range. In this scenario, the renter will likely have to make some compromises which may include realizing not all of the desired amenities are feasible within the current budget or making the decision to allot additional funds for rent.

Set a Budget First

Budget is one of the primary concerns for those looking to rent an apartment. For these individuals, the search for an apartment should begin with the process of narrowing down the search for apartments to those that are within the set budget. It might be worthwhile to look at a few apartments which are priced slightly above the budget. This is because, depending on the vacancy rate, there may be an opportunity to negotiate a slightly lower rate which can bring the rent of the apartment to within the renter’s budgetary constraints. Alternately the renter may decide he is willing to pay a little more for certain features such as a larger living space, more desirable amenities or a choice location.

Choose a Location

Location is a very important factor for renters to consider when searching for an apartment. An ideal location is one which is not to far from family, work or leisure activities. Again this is a matter of personal preference and will depend largely on the desires of the renter. Some renters may favor a shorter commute to work because it affords them more time to spend with their families. Other renters may not have family close by and may opt to rent an apartment further from work if it is near access to an activity they enjoy such as skiing in the mountains or surfing in the ocean.

Renters should also consider the surrounding areas when choosing an apartment. Some renters may enjoy being near social activities such as movie theaters and shopping centers while others may prefer to rent an apartment in an established neighborhood apart from the commercial areas. Likewise some renters may prefer living in an apartment where there is nearby access to public transportation while others may not favor this option.

Consider the Requirements and Amenities

Finally, renters should consider their requirements and preferred amenities when searching for an apartment. Requirements might include criteria such as two or more bedrooms, two or more bathrooms or a minimum square footage. These are criteria which the renter feels they must have in order to function in the apartment. For example a family with two children might need 2-3 bedrooms while a single person may be able to function with only one bedroom. However, a single person who works from home may require an additional bedroom to use as an office.

Renters should also consider the features they would like to have in an apartment complex. This may include access to a pool or exercise equipment, the use of a home theater for residents or meeting facilities which are only available to residents. Renters should carefully consider these options and determine which are most important to them.

Set a Budget First

For many renters the most important consideration is how much they are willing to spend on an apartment per month. For this reason it should come as no surprise that the first step in the apartment hunting process should include establishing a budget. Renters should consider their monthly income and subtract out all of their monthly expenses from this amount. Monthly expenses should include all bills which are paid regularly as well as money spent on food, entertainment and miscellaneous items each month. The renter may also wish to subtract out an additional amount to allow for some savings each month as well as emergencies. The total left after these subtractions is the amount the renter is able to spend on an apartment per month. Once this amount is established the renter will have a better understanding of the type of apartment they are able to afford.

Research Available Properties

Once a budget has been established, the renter should begin researching the properties which fall within his budget range. It is likely to consider properties which are slightly above the range as well as properties which are slightly below the range. Doing this will allow the renter to see if there is an opportunity to either make improvements on the amount of monthly spending to allow for the renting of a more expensive property. The renter can also determine whether or not they feel there is the opportunity to negotiate a lower rental rate on a particular property.

When initially researching properties, the renter does not necessarily have to visit each property. Most of the pricing information can be obtained from resources such as Internet websites, newspapers and rental magazines. Since pricing is the primary concern at this point, the initial research will enable the renter to eliminate properties which are too far out of their price range.

Comparison Shop

Once the renter has narrowed down his list of possible apartment complexes to a more manageable number it is time to start visiting these properties. It is during this step that the renter will really get a feel for the quality of the apartment as well as the amount and quality of amenities offered by the complex. This is very important because this information can be used to decide between properties which are otherwise very similar.

The comparison shopping process is also worthwhile because it gives the renter some bargaining power in negotiating more favorable rent rates. Renters who have visited a number of apartments likely have a good idea of the going rate in a particular area for a particular size apartment. These renters can use this information to potentially convince some leasing agents to lower their prices at least a little bit. There will not likely be huge drops in price from these negotiations but it will likely be enough to be considered worthwhile.