Wednesday, April 11, 2012

Apartment Hunting Tips

I am thinking of moving from my current apartment to another one at the end of May, although as of right now I have not found anything suitable. It may or may not happen; it all depends on what is available, if it is a right fit for me and my needs, and if the money is right. I was thinking of making a change for more convenience on my part, but if it does not work out, I will not worry about it. I just want to see what is out there, and so far the pickings are slim.

For any of you in the market for a rental property, there are some basic tips to that will make your search easier to navigate, while also narrowing and possibly complicating your choices. They are as follows:

1. Beware of realty/brokers’ fees, unless you can afford it. This fee, which usually equals one month’s rent, is paid to the listing agent at lease signing, in addition to the security deposit (also equal to one month’s rent, or more) and the first month’s rent to the Landlord. If you want to avoid paying realty/brokers’ fees, look for apartments advertised by the owner or by leasing offices in apartment buildings. This will eliminate the need to pay out more than expected if renting through a realtor or broker.
2. If the price is too good to be true, then maybe it is. Renter beware when signing a lease to an apartment, house, condo, or any other property; if rent is extremely low compared to others in the area, it could be because there is a problem with the rental in question. Is it in good shape? Are tenants responsible for all, some, or none of the utilities? How will these affect monthly expenses?
3. Be annoying and ask questions. Before touring an apartment, ask questions you want to know the answers for. Questions about noise pollution from neighbors and other nearby elements are a good place to start.

Do you have apartment hunting stories to share? If so, please share them!

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