Apartment Hunting on a Budget
Finding an apartment that fits within your budget and is in a safe part of town can be very difficult. I had to move in the dead of winter a few months ago, and man was it hard to find the right place!
Here are a few tips as you move forward:
1. Know your Budget (and thyself)
-- It is recommended to spend about 30% of your gross income on housing (rent/mortgage, utilities) or 43% if you are in a tight financial situation. However, sometimes it can be difficult to stick to this rule. I'm pretty good at sticking to my budget, so I was able to afford an apartment and utilities at about 50% of my income.
2. Network--Use your friends and coworkers to help find a trustworthy roommate if possible. A friend who has experience in law enforcement can be very handy to help you know where to avoid, and other friends may have connections to landlords, or know which landlords to avoid (AKA "slum lords" or those that rip you off)
3. Do Your Research-- Use websites like Community Crime Map and Spot Crime to be familiar with the type and frequency of crime in the area. Zillow and other apartment-finding websites are helpful for identifying potential homes. An easy step before calling is to Google the name of the complex and landlord to look at reviews and ratings. This can help better understand the type of company you would be working with.
4. Visit in Person-- Set up a meeting with the leasing agent on site. You want to know what you are getting yourself into. If you feel uncertain about your safety, take someone with you. Ask questions about crime in the area and the building, typical cost of utilities not included in the rent payment, problems with pests, etc. This will allow you some insight into whether they answer honestly or sidestep.
5. Don't Commit on the Spot-- Out of desperation, any place that agrees to take you on as a tenant sounds appealing. If they offer you the keys on the spot, that may be a red flag that they are desperate as well. There may be a reason. Think about it before committing and make sure that you could live there in good health and safety.
6. Don't be Afraid to Haggle-- If you have good credit and rental history, landlords want you! Just bring up the fact that you have excellent credit and rental history and if they would consider renting to you for $x less. I have friends who did this and were able to get $50 knocked off. Another method would be to ask for a lower rent for an 18 month or 2 year contract, if you're planning to stay in the area.
Happy apartment hunting!