Clients info@timotitoju.com 306.591.6524

HOW TO PREPARE FOR RENTING YOUR FIRST APARTMENT

HOW TO PREPARE FOR RENTING YOUR FIRST APARTMENT

Posted: Friday July 9, 2021

Leaving the proverbial nest can be exciting and scary at the same time. Finding and renting an apartment is one of the first things you need to do when you strike out on your own, and the process can be a bit overwhelming. As with anything, preparing yourself beforehand can make things easier. As such, we’ve put together this short guide designed to help you prepare to rent your first apartment. 

FIGURE OUT HOW MUCH YOU CAN AFFORD TO SPEND

It’s highly likely that you’ll be living on a tight budget when you move out of your parents’ house. You must plan accordingly, so you don’t end up living outside your means. Remember, you’ll be paying for more than just rent each month. Living on your own means you’ll also pay things like utilities, food, insurance, gas, etc. 

Most experts agree that you shouldn’t spend more than 30 percent of your gross income on housing each month. 

HOW MUCH SPACE DO YOU NEED?

Once you’ve figured out how much you can spend each month, the next step is to determine how much space you need. Usually, the less space the rental has, the cheaper it will be for rent, utilities, and furnishings. 

If you’re planning to live alone, can you get by with a studio apartment? Maybe you’ll have a roommate to split the costs, in which case, you’ll need two bedrooms. 

THINK ABOUT WHERE YOU WANT TO LIVE

Location is key in deciding where you want to live when you rent your first apartment. Proximity to your job is key because you may be able to walk to work if the apartment is close enough. If you have to drive, the commute may be an added expense you need to budget for. 

Safety is another concern. How well is the rental lit at night Is the parking close by that you won’t have to walk far in the dark? What is the crime rate like in the area?

Lastly, how convenient are nearby amenities like entertainment, grocery stores, etc.? This may not seem like a big deal until you have to drive several miles to get anywhere. 

THE RENTAL APPLICATION

Most landlords require potential tenants to fill out a rental application. The information and documentation you provide here will help the landlord determine whether you’d be a good tenant or not. You’ll need to supply your employment information as well as your social security number so he can check your credit. In general, the higher the monthly rent, the higher your credit score will need to be. 

NEXT STEPS

If the application process goes well, the landlord will have you sign a lease and pay a security deposit for the rental unit. The lease is a legal document that explains everything that’s required of you and what the rules are for living in the rental unit. If you have any questions as to whether you can do something or not, the answer is likely in your lease. 

The security deposit is a fee that the landlord holds onto as a guarantee of sorts. If any damage occurs while you live in the rental, the landlord will use the security deposit to repair it when you move out. If you’ve taken good care of the place and nothing has happened except for normal wear and tear, the landlord will return the security deposit to you when you vacate the premises. 

 


Regina Real Estate Blog

Interested in Buying a new home or Selling your existing property? Not sure where to start? Below you'll find articles tailored to give you a hand with many different tasks involved in the process.

Four features you should look for when buying a new house
Market Update - February 2024
How To Make a Trendier Gray Kitchen
Market Update - January 2024
6 Ways To Get Great Furniture For A Great Price
Market Report - December 2023
How to Find Cheap or Free Kitchen Cabinets
Market Report - November 2023
How To Make Windows More Energy Efficient
Market Report - October 2023
6 ways to upgrade your home's style
Market Report - September 2023
Pet Friendly Flooring Options for Your Home
Market Report - August 2023
5 Things beginners should consider when investing in rental properties
Market Report - July 2023
Add Curb Appeal With Colour
Market Report - June 2023
5 Ways To Refresh Your Space
Market Report - May 2023
Underground vs Aboveground Pools. Which One Should You Get?
Market Report - April 2023
Remodel Projects That Add The Most Value To A House
Market Report - March 2023
5 Ideas On How To Remodel Your Kitchen
Market Report - February 2023
Costs First-Time Home Buyers Should Expect
Market Report - January 2023
6 Qualities of Successful Real Estate Investors
Market Report - December 2022
5 Mistakes To Watch Out For When Flipping A Home
Market Report November 2022
WALL TYPES AND MEASUREMENTS BEFORE YOU START RENOVATING
Market Report October 2022
HOW TO CLEAN YOUR COUCH
Market Report September 2022
6 TIPS TO CONVERT YOUR HOME TO A RENTAL PROPERTY
Market Report - August 2022
5 KEY THINGS TO KNOW BEFORE YOU BEGIN THAT KITCHEN RENOVATION
Market Report - July 2022
EASY STEPS TO CREATE YOUR OWN SPA RETREAT
Market Report June 2022
DO’S AND DON’TS WHEN MOVING WITH PETS
Market Report May 2022
TO DIY OR NOT TO DIY – DOES DO-IT-YOURSELF PAY?
Market Report April 2022
7 EXTERIOR COLOR COMBINATIONS FOR INVITING CURB APPEAL
Market Report March 2022
A GUIDE TO SURVIVING THAT KITCHEN RENOVATION
Market Report February 2022
4 THINGS YOU SHOULD KNOW ABOUT CREDIT REPORTS
Market Report January 2022
5 COMMON MISTAKES FIRST TIME INVESTORS MAKE
December Market Report
5 EASY WAYS TO FALL IN LOVE WITH YOUR HOME ALL OVER AGAIN
MAINTENANCE TIPS FOR A WOOD DECK
3 HOME IMPROVEMENT JOBS YOU SHOULD CONSIDER HIRING FOR
EVERYTHING YOU NEED TO KNOW ABOUT LOAD BEARING WALLS
WHY IS INVESTING IN SENIOR HOUSING A GOOD IDEA?
November Market Report
7 MONEY-SAVING HACKS YOU SHOULD KNOW FOR YOUR HOUSEHOLD
HOW TO MAKE A SMALL BATHROOM FEEL BIGGER
DESIGN TRENDS TO WATCH
3 WAYS TO TRANSFORM YOUR PLACE WITH JUST A COAT OF PAINT
HOME FLOORING & MONEY SAVING TIPS
5 WAYS TO BECOME RESPONSIBLE HOMEOWNERS
HOW TO AFFORD TO BUY YOUR FIRST HOME
WHAT YOU SHOULD THINK ABOUT WHEN RENTING AN APARTMENT
4 TIPS FOR SELECTING THE RIGHT PAINT COLOR FOR ANY ROOM
TIPS TO PLAN AND DESIGN YOUR SCREEN PORCH
5 HOME IMPROVEMENTS WITH THE BIGGEST RETURN ON INVESTMENT
5 THINGS TO DO THIS YEAR IF YOUR GOAL IS TO BUY A HOME
HOW TO CREATE A CHILD-FRIENDLY KITCHEN
3 MISTAKES TO AVOID WHEN HIRING A HOUSE PAINTER
CLEVER CLOSET SOLUTIONS FOR RENTERS
7 ORGANIZATION FOR A BETTER HOME OFFICE EXPERIENCE
EMPTY NESTER? WHY IT MAKES MORE SENSE TO MOVE RATHER THAN RENOVATE
EVERYTHING YOU NEED TO KNOW ABOUT FLOOD INSURANCE AND WHETHER YOU NEED IT OR NOT
CREATE YOUR HOME(WORK) STATION
DECORATING IDEAS FOR APARTMENT LIVING ROOMS
5 BASIC THINGS EVERY REAL ESTATE INVESTOR SHOULD KNOW
HOW TO PREPARE FOR RENTING YOUR FIRST APARTMENT
THE AVERAGE COST OF ADDING A KITCHENETTE
REDECORATING YOUR KITCHEN? HERE ARE A FEW IDEAS
KEEP YOUR PLACE IN PERFECT SHAPE WHILE YOU’RE AWAY
3 TIPS FOR MAKING YOUR HOME APPEAR PET-FREE WHEN TRYING TO SELL IT
HOW TO INCREASE YOUR HOME’S VALUE WITH WATERPROOFING
6 IDEAS FOR ORGANIZING YOUR CLOSET
TOP 6 FEATURES OF A PROFITABLE RENTAL PROPERTY
5 BASIC IDEAS OF MODERN HOME DECOR
HOW LONG YOU SHOULD LIVE IN YOUR HOME BEFORE SELLING IT?
4 TIPS ON HOW YOU CAN SELL YOUR HOME FAST
7 STUNNING WAYS TO DECORATE YOUR LIVING ROOM
4 THINGS TO AVOID WHEN SELLING YOUR HOME
6 TIPS FOR BUYING YOUR FIRST RENTAL PROPERTY
RENT OR BUY A HOME? THE BEST OPTION FOR YOU
7 HELPFUL USES FOR LAUNDRY DETERGENT
6 ROOM DECORATION IDEAS FOR YOUR HOME
5 BATHROOM PAINT COLOR TRENDS
HOW TO GET THE MOST FOR YOUR MONEY IN A SELLER’S MARKET
HOW TO KEEP CLEAN AND SAFE RENTAL PROPERTIES
7 INTERIOR TRENDING DECOR IDEAS
5 TOP REAL ESTATE NEGOTIATION STRATEGIES
January Market Report
BUYING A BATHTUB? HERE’S EVERYTHING YOU NEED TO KNOW
Avoiding Moisture Problems in the Home
Create More Space in your Kitchen
Balancing the Emotional and Practical Sides of Buying a Home
4 REASONS TO GET INTO REAL ESTATE AND STAY IN IT
HOW TO GET BUILT-IN SHELVES ON A BUDGET
October Market update
June 2020 Market Update
How to Quickly Improve Indoor Air Quality
Conversation with Jenna McKay
Estimating Your Selling Costs
April 2020 Market Update
Healthy Lighting for Your Home
Surviving COVID
Real Estate Chat with Kyle Kerr
Morning Chat with Melissa McCullough
Regina and area March 2020 Market Update
WHAT TO REPAIR BEFORE YOU LIST
First Time Home Buyer Tax Credit
Pricing your home
Making “Neighbourhood Targeting” Work for You
Lets Talk Tuesday
January 2019 Market Update
Should You Move or Renovate?
Light Your Way to a Faster Sale
4 Ways to Make the Home Hunting Process Easier
Tips for Selling Your Home In a Slower Market
3031 Fuller Place, East Regina
7 Emerald Vista, White City Sk
4427 Wolf Willow Place
Home Tour: 2169 McTavish Street, Regina SK
8 Mistakes to Avoid When Buying a Home
Second Time's a Charm
Buy or Sell First?
Tips for Showing your Home