admin April 26, 2018 No Comments
Finding the right apartment rentals is not really difficult if you know the right process to do it. Here is an easy-to-follow checklist that will ensure you find new digs that are right for you, with a smooth transaction and no surprises.
1. Determine Affordability
This should not be an arbitrary number, but rather a percentage of your monthly income. Most experts say to keep your monthly rental obligations to less than 25 percent of your income. So, if your income is R10,000 a month, an affordable apartment for you would be R3800 or less.
2. Lower Rental Costs
Look for ways to lower your rental costs. Do you really need three bedrooms, or would two be enough? Can you get by with an apartment home with only a single bathroom or living in a complex without a swimming pool? Location affects rental costs significantly as well, so keeping your options open in this regard will help.
3. Add Renters Insurance
No matter which apartment rentals you consider, rental insurance should not be optional. It will protect your belongings inside of your apartment home in the event of fire, theft or even a natural disaster.
4. Run a Credit Check
Keeping an eye on your credit and knowing where you stand is important when you are looking for a new apartment rental. Nearly every landlord you encounter will start the process by checking your credit; after all, they don’t know you, and it gives them some insight into how you handle your business. Make sure the impression they get is favourable by clearing up any credit glitches and paying down revolving credit to raise your score as high as you can. The bonus of clean credit is that your security deposit will be lower.
5. Start Hunting
Now that you have an idea of what you can afford, what you want and what your credit looks like, you can start searching for apartments in your preferred areas.
6. Gather Your Down Payment
Of course, the process of renting an apartment will require a down payment in the form of your first monthly payment, any fees and possibly a security deposit. Start gathering your funds so that you are ready to pull the trigger when you find the apartment home that is perfect for you.