1.) Review your lease and know your rights
Although landlord rights differ from state to state, it is important to know what you are entitled to. Even though it might sound funny, but READ YOUR LEASE! Don’t just sign your name away, read your lease, know your rights, and you’ll be good to go! Keep in mind while you and your roommates will be signing your lease, you might have to turn in your first check. This check can include, but not limited to:
First and last months’ rent
Security deposit
Pet deposits
Holding fees
2.) Set your budget and stick with it
Keep in mind you are a college student, and probably on a tight budget. Talk with your roommates and determine what would be an attainable range for each of you. And don’t forget extra utilities!
3.) Conduct a walk through
Note possible problems with the location. Also take photos and document other evidence of damage to receive your security deposit back.
4.) Utilities
Look to see what utilities are included with your lease. Don’t forget other utilities maybe not included in your monthly rent, probably cable and Internet.
5.) Location
Although you love the view outside your bedroom window during the autumn months, are you willing to walk the extra mile during the bitter cold? Finding the perfect location is a balancing act between your budget and willingness to walk into campus.
6.) Parking
Is parking on or off the street? Extra parking fees for a guaranteed spot? What are the rules about guest vehicles?
7.) Pets
Some rental properties allow some pets while others do not allow any. Check with your landlord and your lease to verify the pet policy and if there are any additional fees.
8.) Renters Insurance
Although sometimes included with your parents homeowners insurance, it is important to have renters insurance in case of accidents. Renters insurance is usually priced $15 or less per month.
9.) Roommates
As well as you and your best friend get along; will they make a good roommate? Here are some questions that help decipher if they would make the perfect roommate.
Do they have a reliable source of income, and will they be able to afford the monthly rent and utilities? How does this affect your rental budget?
Do they have pets?
Can you trust them to be around your personal belongings?
Are they willing to sign a lease and abide by the terms of the contract?
Are your lifestyle choices similar?
How do you plan to split up home responsibilities?
Who will they invite over as guests?
10.) Clear line of communication between you, the landlord, and the management company
It is essential to start off on the right foot with the landlord and management company. Review the leasing company and determine if it is a rebuttable company, feel free to ask your friends!