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Finding a Place to Live!!!

Finding a Place to Live!!!. Renting an Apartment. Advantages of Renting Instead of Buying a Place to Live. Mobility Minimal Responsibilities Finances- As a young adult, you may not be able to afford to buy. Disadvantages of Renting. limited control & freedom lack of permanence

lisandra-graham
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Finding a Place to Live!!!

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  1. Finding a Place to Live!!! Renting an Apartment

  2. Advantages of Renting Instead of Buying a Place to Live • Mobility • Minimal Responsibilities • Finances- As a young adult, you may not be able to afford to buy

  3. Disadvantages of Renting • limited control & freedom • lack of permanence • does not encourage a sense of community • financial disadvantages • money spent on rent is not applied toward ownership

  4. Assess Your Housing Requirements • What location am I interested in? • Think specifics (near campus, work…) • What type of housing would suit me? • If an apartment: High Rise, Low Rise, etc. • How much space do I need? • Will you have roommates??? • What can you afford to spend? • Allow 28-30% of your monthly income or allowance for rent

  5. What is Available? • Drive or walk through the area you would like to live in • Look online at www.rent.com or other resources- we will do this tomorrow! • Contact local realty groups • Ask around!

  6. Inspect and Compare Units • You must always go to take a look at a rental unit before actually renting it! • Talk to other tenants if possible • Keep a descriptive list • Living Space • evaluate the overall layout and efficiency

  7. Inspect and Compare Units (cont.) • Individual Needs • pets, accessibility for handicapped people, parking… • Maintenance • whom do tenants contact if maintenance is needed? • does the manager of landlord live on the premises?

  8. Check This Out!!! • Plumbing • Appliances • Door Locks – changed? • Windows • Drapes • Storage • Furnishings • Privacy?

  9. What is a Lease? • Legal document a tenant signs when agreeing to rent housing for a specific amount of time • States the rights and duties of both the landlord and the tenant

  10. Lease (cont.) • Must be read carefully • Record all damages in the apartment before you move in • After inspection of you unit, anything unpleasing in the lease should be discussed with the landlord before signing! • Rules and regulations need to be read carefully. • DO NOT SIGN UNTIL YOU HAVE READ IT ALL!!!

  11. Some Costs for Renters • application fee- you may have to pay for landlord to review your info • credit check fee- to cover the cost of running your credit check • security deposit- money you give to the landlord to cover any damages you cause to the place • advance on rent • moving and other costs • installation fees- cable, phone… • moving companies / uhaul

  12. Tenants Rights and Responsibilities • Safe, habitable rental unit • Privacy • No discrimination • If a tenant fails to fulfill his or her responsibilities, a breach of contract exists

  13. Ok, I have my new place! How do I make it feel like “home?” • Unpack all of your belongings right away. This will help you to feel at ease and settled into your new place. • Hang photos, posters, or artwork. • Add splashes of color where you can- pillows, tablecloths, rug, etc. This helps it to not feel so “apartmenty.” • Ideas???

  14. Some renting tips from HGTV • How much to pay? • How to negotiate your rent

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