The process of renting your first apartment can be fun, exciting, and informative. But as something you’ve never done before, it can be a difficult process filled with challenges and mistakes. Listed below are common mistakes made by first-time renters that you should avoid.
Not Setting a Budget
The first thing to consider when apartment hunting is your budget. What can you afford? As a renter, it is important to include your monthly rent, insurance, and the costs of monthly utility and amenity bills into your budget. Not having a set budget can cause renters to spend more than they have, causing them to rent units above their pay range. It’s essential to live within your means, renting an apartment unit that you afford.
Not Being Prepared
First-time renters are often eager to move, causing them to oversee key details during the apartment hunting process. First-time renters typically entertain the idea of an apartment without doing the proper research on the necessary information, documentation, and costs to qualify for an apartment. These qualifications include application fees, security deposits, credit checks, income requirements, ids, cosigners, proof of social security, and many more factors. By properly planning and researching your first apartment, you can prepare yourself for any outcome that may include additional costs, information, and documents, ensuring that you qualify for the lease.
Not Reading the Lease
Like any contract that you sign, it is important that you read the fine print. Leases provide detailed information regarding payments, fees, pets, parking, visitor protocols, community guidelines, maintenance, trash, and many other details. An apartment lease is considered a contract or agreement between you and your landlord. Reading it ensures that both parties uphold the set terms agreements.
Not Getting Renters Insurance
Renters insurance is something all renters should consider getting. It covers you and your property in case of emergencies such as thefts, fires, floods, and other disasters.
Not Knowing Your Roommate
Having a roommate can be a fun, comforting, and life-changing experience that allows you to save money by splitting apartment living costs. However, choosing the wrong roommate can be a disaster creating major issues and conflict, ultimately leading to the termination of your lease.
The Apartments of Wildewood have a friendly community that’s waiting to welcome you!
At The Apartments of Wildewood, located in beautiful in St. Mary’s Maryland, we offer homes with access to pools, an on-site gym, and maintenance whenever you need it – and have access to all the information you need to affordably rent an apartment in St. Mary’s. To set up an appointment to check out an apartment or townhouse rental from The Apartments of Wildewood, call us at 301.737.0737 or visit the website at www.apartmentsofwildewood.com