Things You'll Need:
- Your budget
- Areas where you want to live
- Number of bedrooms you'd like
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Step 1
The first step to finding the best apartment at the best price is determining how much you can afford to spend on an apartment. If you do not already have a personal budget, create a quick spreadsheet and lay out all of your income and expenses. Determine how much per month you are willing to spend on apartment rent. Don't forget that there will also be utilities on top of that, which should be included in the budget.
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Step 2
Next, identify potential areas that you are interested in living. For each area, search for potential apartments within your price range. The easiest way to do this is on a site such as Craigslist or a local apartment site (local classifieds work too). Find at least three apartments in each area and record the # bedrooms, rent, and other comments for each.
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Step 3
At this point it is time to narrow down the area that you want to rent an apartment in. Hopefully, the research you did in the previous step has made this clear to you. If not, do more research into each area and weigh the pros and cons. Drive through each area and spend some time becoming familiar with the area. What type of restaurants, bars, activities, parks, etc. are in the area? When you have completed this step, you will have selected a general area that you want to live in.
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Step 4
Next, set up appointments to see the top 3 apartments in the area you have selected. All should be within your price range. When you visit each apartment, make sure to answer the following questions either by asking the landlord or observing for yourself when applicable:
-What is the monthly rent?
-What are the typical heating/electricity bills? (Ask the current tenants or neighbors this question if landlord doesn't know.)
-How much is the security deposit?
-What is the policy for late rent?
-Is there parking included?
-Is the apartment in good shape?
-How far does the landlord live? Does he handle repairs or contract it out?
-Ask current tenants how the landlord has treated them if they home during the tour.
-What type of cable/internet can be hooked up to the apartment?
-Can you put holes in the wall of the apartment for shelves or put up posters?
-What types of businesses are nearby?
-How far to public transportation or major roads/highways?
-Why are the previous tenants are leaving and how long did they rent there? The longer the better, although apartments turn over often.
-What are the neighbors like? Are they of similar age to you? -
Step 5
Once you have completed the tours of each the apartments, compare your notes for all of them. Often, one apartment will stand out as the best one for you. Remember that you can often negotiate on the rent amount, especially during difficult economic times. This is especially important if price is the only hang up for an apartment that you really like.
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Step 6
Finally, you decide on the apartment that is the best value for the best price, make sure to get everything that you negotiated with the landlord in writing. This includes the security deposit, rent payment schedule and late policy, parking, and any other items discussed. Enjoy your new apartment!
