Renting an Apartment for the First Time: A Guide for New Renters

Being a first-time renter can be challenging. Without experience, it’s difficult to know what to look for or what steps to take to make your search easier. There’s also much to consider, including market trends, rental availability, and the rental application process.

If this is your first time renting an apartment, you’ll want to know a few things before starting. Keep reading for a step-by-step process to find, apply for, and move into your first apartment.

We also provide tips that can help make the process even easier and more budget-friendly.

1. Determine your budget

There are two ways you can determine how much rent you can afford:

According to Manisha Thakor, director of wealth strategies for women at the BAM Alliance, your rent shouldn’t be more than a fourth of your take-home pay. So, if your monthly income is $3,000, your rent shouldn’t exceed $750 a month.
As a rule of thumb, your gross salary should be at least 40 times your rent. So, if you earn $40,000 a year, your rent shouldn’t exceed $1,000 a month.

Ideally, you’ll want to find an apartment that costs less than what your budget allows so you can create an emergency fund. An emergency fund is usually three to six months’ worth of living expenses.

While landlords don’t require an emergency fund, saving up for a rainy day gives you additional security since you’ll be able to pay your bills even if you lose your job or are thrown some other financial curveball.

Other costs to consider include the following:

2. Check your credit score

A credit score of 650 or higher will make it easier for you to get approved for a rental since this is the minimum score landlords require. If you don’t know your credit score, you can purchase an online report for a one-time fee.

But what should you do if your credit score is below 650? In that case, you’ll need to find other ways to convince the landlord that you’re responsible and will be able to pay rent on time. Here are some options:

Find a roommate: You can always get a roommate to split the responsibilities and costs. This will give landlords peace of mind since they can rely on two renters for rent payments instead of just one.
Get a co-signer: Ask a friend or family member to co-sign. Again, this will reassure landlords since they can fall back on your co-signer if needed. However, becoming a co-signer is a huge responsibility, so ask only people who are financially responsible and comfortable covering rent if you’re unable to.
Get references: Since this is your first apartment, you most likely don’t have references from a previous landlord. Instead, you can provide a professional reference from an employer or manager or a personal reference. This can be one way to provide proof you have the characteristics of a good renter.
Provide proof of income: Provide your potential landlord with pay stubs, bank statements, and employment documents to prove you have the funds to cover the rent.
Offer to pay more rent in advance: Let the landlords know you’re willing to pay several months’ rent upfront. This will help assure them that you’ll be a responsible renter and financially trustworthy.
Increase your security deposit: Offering to double or even triple the requested security deposit amount will give the landlord an incentive to approve your application.
Plead your case: Write a formal letter to the landlord explaining your situation, including the steps you’re taking to improve your credit score.

3. List your requirements

Make a list of the things you’re unwilling to compromise on to make the apartment-hunting process easier. Your requirements might include the following:

Neighborhood: Ideally, you want to live in a safe area close to your work, schools (if you have children), hospitals, and grocery stores. You can find out if your planned neighborhood is safe by using sites like AreaVibes and City Data. Also, keep in mind that some areas might be more expensive than others. For this reason, check out current rental market reports to see which areas are more affordable than others.
Amenities: You might require specific amenities, such as a laundry facility, a parking space, an on-site gym, a dishwasher, or air conditioning.
Pets: If you have pets, you’ll likely want a backyard or park nearby. The ground-floor units of some apartment buildings might have a small yard for your pet to use.
Your lifestyle: Consider your lifestyle when searching for an apartment. For example, if you enjoy cycling, check whether the area has trails or cycling routes nearby.

4. Look for an apartment on reputable rental sites

Online rental sites can serve as your primary resource in finding available rentals near you. You can use them to search for apartments that suit your budget and requirements, allowing you to see all the units that are a good fit for you in one place.

For instance, Realtor.com® allows you to filter your apartment search by the following:

Neighborhood
Price
Property type (such as apartment or condo)
Bedrooms and bathrooms
Your move-in date
Property size
Unit features (such as air conditioning and washing machine)
Community features (such as parking, gyms, and pools)

Filtering makes it easy to find and shortlist your favorite apartments so you don’t waste time visiting properties that won’t work for you.

5. Create a list of questions to ask

Once you have a shortlist of apartments and have booked tours with landlords or property management companies, you’ll need to get a list of questions ready to ask them on the tour day.

Here are some questions you can ask:

Is there free parking? If you own a car or are planning to, make sure to ask how parking works. Rentals can offer public parking or a parking spot for a monthly fee.
Who is responsible for covering utilities? These might include electricity, water, sewage, and natural gas.
What amenities does the apartment offer? While the apartment’s online listing might include specific amenities, make sure you double-check with the landlord.
Are there guest restrictions? If you enjoy hosting get-togethers, find out how many guests you’re allowed to have and whether they’ll have access to amenities like the swimming pool.
Who do I call if I need maintenance? Find out how maintenance works and whom to contact when something breaks down or needs repair.
Are there pet-friendly areas nearby? This question is good to ask if you own pets, especially dogs.

In addition to having a questions list, consider preparing an apartment inspection list. For example, you might want to test the faucets, internet connection, light switches, window handles, and air conditioning during your tour.

6. Apply for the apartment

Once you’ve found your favorite apartment (or several), start applying. To save time, you can use Avail Renter Profile to simultaneously apply for multiple rental properties without filling out separate application forms. This profile will have all the rental information the landlord needs to approve you.

Your Avail renter profile will also have a shareable link you can give to landlords right away, helping you beat the competition when applying for an apartment in a popular area.

Creating an Avail renter profile is free unless you add a credit check, background check, and eviction report, which involves a one-time fee.

7. Sign the lease

If your rental application is approved and you decide to move ahead with renting the apartment, you will receive a lease. Read through your lease carefully before you sign it. Sometimes, there can be hidden fees, terms, and conditions that could affect you later.

If you have a lawyer, you could even ask this pro to read through the lease to ensure all the terms are fair.

There are three main types of lease agreements when it comes to apartments:

Month to month: This lease agreement automatically renews every month, and the renter or landlord should provide 30 days’ notice to move.
Short term: This lease can last anywhere from three to six months. It often doesn’t renew automatically, so you’ll have to renew it before it expires.
Long term: This lease usually lasts 12 to 15 months. In the U.S. (and especially with apartment buildings), a 12-month lease is the most popular.

Ensure you’re happy with the lease terms, and know how the renewal process works.

8. Buy apartment furniture

Since this is your first apartment, you’re probably looking for some furniture. Buying expensive furniture can leave a huge dent in your budget and cause unnecessary financial stress during the first few months of living in your new apartment.

Fortunately, there are some budget-friendly ways to furnish your new place. Here are some tips for getting cheap (or even free) furniture:

Ask your friends or family members: Family or friends might have furniture they aren’t using. Ask them if they’d be willing to give it to you for free or sell it to you at a low price.
Browse garage sales: You can often find used furniture at garage sales for a steal.
Go to budget shops: Used furniture stores offer second-hand furniture in good or even excellent condition.

9. Purchase renters insurance

Keep your belongings safe by getting renters insurance. Renters insurance typically covers the following:

Personal property: Renters insurance protects your belongings—including electronics, furniture, and clothing—against unexpected damage or loss. For example, if someone burglarizes your property, your insurer will help you replace the stolen items.
Uninhabitable coverage: This type of coverage can cover the costs of your hotel or living expenses if you can’t live in your apartment due to a covered incident, such as flooding or a broken water pipe.
Liability: This type of coverage can cover medical bills or damaged property if someone gets hurt at your apartment or their property gets damaged.

10. Clean before you move in

Schedule a deep cleaning of your apartment before you move in. You can either do it yourself (saving money in the process) or hire a company or individual to do it for you.

Once the apartment is clean, you can move your belongings into the apartment with the help of a moving company or your family and friends.

3 tips to make the apartment-hunting process easier

Below are some top tips every first-time apartment hunter should know.

1. Start apartment hunting in advance

You don’t want to find an apartment too early and not be able to move in before someone else rents it. You also don’t want to wait too long and not have enough time to find a home that suits your needs.

Search for an apartment within your budget and in your preferred neighborhood 60 days before your move-in date. Then, 30 days before your move-in date, book apartment tours, apply, and sign the lease.

2. Search during the winter

Summer is typically more expensive than winter since many renters prefer moving during hotter months. In fact, most people prefer moving during May, June, July, and August.

This means you’ll likely find an apartment for a lower price during the winter months.

If you’re on a strict budget and want to save as much money as possible, look for an apartment in December, January, February, or March.

3. Beware of rental scams

Searching for an apartment on marketplaces such as Facebook or Craigslist might be tempting. However, if you do this, your chances of running into a scam significantly increase.

Some of the most common scams are fake listings, unavailable landlords, and having to pay a deposit to view a property.

How long does it take to adjust to a new apartment?

Moving into your first apartment is a big step in your life. So, it’ll likely take a couple of weeks or months to start feeling at home.

However, how quickly you adjust will depend on several factors. For example, if you’re moving out of your parents’ house and are extremely close to them, it might take several months for you to become accustomed to your new place.

If you follow the steps outlined above, you won’t have to worry about feeling overwhelmed when searching for your first apartment.

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