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With the end of the spring semester fast approaching I decided to post a few quick tips for apartment searching. Anyone looking for housing for the summer or next fall can utilize these few tips to make the apartment hunting process all the easier.

Start Early:
This is the easiest way to get a sense for what is available and what the market rates are for the area you are looking to move to. Once you have an idea of where you would like to (or need to) live, do some preliminary searches to get a feel for price and availability. This holds especially true for any students looking for off-campus housing for the coming school year, as the places closest to campus go fastest. I suggest anywhere from 4-12 weeks in advance.

Know Your Budget:
This is where your early searching comes in handy, as once you have an idea of what it is going to cost to live in the area you desire you can match that to your budget. It’s been said that housing costs shouldn’t take up more than 30% of your income, so keep that in mind when looking at apartments.
A good way to cut down on costs is to have a couple of roommates to defer your utility costs, scale down the amenities that your apartment has and perhaps move to the outskirts/outside a big city. While you may be frugal in other areas of your life, if 40% or more of your income goes toward housing costs it becomes hard to pay down debt, start saving and have some financial flexibility. While having a studio apartment downtown with heat and electricity included would be nice, often this just isn’t feasible.

Fee vs. No Fee Listings:
One way to keep your housing budget down is to avoid paying a broker fee when you get a new place. There are a lot of great options available to rent without going through a broker and this just requires a little bit of searching and leg work on your part. If you have the time to go it alone, it’s a great way to save money and make sure you get what you want.

If you do decide to use a broker to find you an apartment, be aware of what their fee’s are. Some charge a flat fee of as low as $50-$100, others are one month’s rent, and some take 10%+ of a year’s rent. Once you know the costs going in, brokers can be very helpful finding places to look at, handling paperwork and saving you a lot of precious time and energy. They also usually have exclusive listings, which can only be rented through their agency, so the apartment of your dreams could be just a broker away.

Where to look?:
You can find great apartment listings in lots of places, some of which you may not have expected. Craigslist.com has a plethora of offerings and has a number of helpful search options, like fee vs. no fee, number of bedrooms and cost. Classified Ads in the newspapers are a great place to look, and if a college town is your destination, the student newspaper can be a vital and underused resource. Additionally, you can use various apartment brokers’ websites to search your desired neighborhoods and old-fashioned word of mouth is a great way to get the inside track.

photo credit: Sweet One

Sealing the Deal:
In apartment searching, a picture is NOT worth a thousand words. While the place you are considering may look nice in the online photos, what greets you when you move in may be radically different. Never rent an apartment without seeing it in person if you can help it, just to make sure everything is as advertised.

You should also make sure to get everything you agree upon with your future landlord in writing and make sure you are provided a copy of the signed lease. Your lease should outline what the landlord and tenants responsibilities including things like when trash is to be put out, when rent is due etc. Not knowing the contents of your lease is foolish and can lead to costly mistakes on your part, like loss of your security deposit or eviction.

Lastly, always feel free to negotiate with your landlord. Lowering the rent, covering the heat or electricity, making some small improvements before you move in – anything you can think of – are great things to bring up before you sign. At my last apartment, we got the landlord to totally renovate the living room/kitchen over the summer and discount our rent during the process.

Remember, wherever you end up, you are the one who has to live there so it’s imperative you make sure you are comfortable and can call that place home!

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