Things to Know While Looking for Your First Apartment

Finding your first apartment is an exciting time. It’s your first space that is truly your own, but it also means that you’re taking on quite a bit of responsibility. Once the reality of lease terms and credit checks comes into play, you might start to feel overwhelmed. There are just so details that one has to keep track of and know about when renting their first apartment. 

Security deposits, co-signers, roommates, renter’s insurance, and more are all factors you may end up coming across. We know it can be hard to navigate, but this is our list of a few things to know when you’re on the hunt for your very first apartment.

Create Your Budget

Knowing how to budget is an important step in tackling acquiring your first apartment. While rent may be obvious, you should compile a complete budget: monthly bills, student loans, car payments, all compared against your monthly income. Most experts say you shouldn’t spend more than 30% of your pre-income tax on rent. Once you know how much money you’re spending vs. making, you’ll be better equipped to figure out what rent range works for you.

Find a Good Property Manager

Whether your rental property is managed by your landlord, by someone they hired, or by a leasing agency, you should do due diligence to find someone who is reliable and will work for you. Check out reviews online—many private landlords will even have reviews via the Facebook Marketplace these days. Ask all the questions you can about upkeep, maintenance, and repairs, and keep track of any red flags that may come up.

Remember Upfront Costs

As someone moving into their first-time apartment, you may not know about some of the additional costs that come up. That can often include first and/or last month’s rent, a security deposit, and of course, anything you need like furniture, cooking supplies, cleaning supplies, toiletries, etc. Set enough money aside to cover all of this—plus an emergency fund—in case anything comes up and you’ll be happy you did.

Always Ask About Pets

Make sure you ask your property manager whether you allow pets as far in advance as you can. Sometimes a lease will even have an explicit limit on the number of pets, so while one cat would be allowed, two wouldn’t. Familiarize yourself with the specific rules so you can bring your furry friend along.

Ongoing Apartment Costs

Remember that there are many kinds of expenses that are going to come up as well, like your utility bills, Internet and/or cable, water, sewage, trash, groceries, pet rent, amenities, and additional fees. Figure out what you’re going to be paying on average to set yourself up for success in your first apartment.

Come Home to Comfort and Convenience at Prescott Square Apartments

Nestled in the wooded hills of Pikesville, yet just moments away from Baltimore, Reisterstown, Randallstown, Millford Mill, Gwynn Oak, Old Court, Owings Mills, Garrison, Lochearn, and Windsor Mill, Prescott Square Apartments offers spacious apartment living spaces for everyone! We offer two-bedroom homes with wall-to-wall carpeting/hardwood flooring, central A/C, access to oversized patios/balconies, and maintenance whenever you need it. To set up an appointment to take a look at our apartments, call us at 443-213-8584 or visit our website!