Apartment guide: Individuals who do not have any inclinations to buy a home may possibly discover that renting an apartment is an ideal solution.
An apartment is able to offer many of the conveniences of home ownership such as a functional living space.
Renting an apartment or a house can offer additional facilities such as meeting spaces,pools,weight rooms or keep fit equipment.
These types of amenities are elective and may not be presented in all rental situations.
Apartment hunting in itself can be a very daunting task for some potential renters.
More than often,the variety of options available to these renters is a source of significant frustration.
Faced with many appealing options, it can be testing to pick just one.
However,there are a few tips which can help to assist the process of apartment hunting.
The process of finding the ideal apartment can be split into three easy steps.
The first step is to set a budget.
Secondly,the renter need to examine their available options and then comparison sites to determine which option is the best.
Anybody who is interested in finding an apartment should consider a number of factors.
These factors might include their budget,location, requirements and wishes.
The key to finding an ideal apartment to rent is to strike a balance of these factors.
Case in point,a renter may wish for amenities such as free wifi,exercise room,but these options may not be accessible in his budget range.
In a situation like this,the renter will likely have to make a number of compromises which may perhaps include realizing not all of the desired facilities are feasible within the current budget.
Set a Budget First
The main consideration for most renters is how much they are prepared to spend on an apartment per month.
It should therefore come as no surprise that the principal step in the apartment hunting process,should include establishing a budget.
Renters ought to consider their monthly revenue and deduct all of their monthly expenditure from this amount.
It is important that monthly expenses should include all bills which are paid regularly,as well as money spent on food,entertainment and miscellaneous items each month.
It is a good idea for the renter to subtract out an additional amount to allow for some savings each month as well as emergencies.
What is left after these subtractions is the amount the renter is able to spend on an apartment per month.
Once this amount is established the renter will have a clearer understanding of the type of apartment they are able to afford.
Setting a budget is one of the primary concerns for individuals looking to rent an apartment.
For these individuals,the search for an apartment should begin with the process of narrowing down the search for apartments to those that are within the set budget.
It might be advisable to look at a few apartments which are priced slightly above the budget.
The reason being,depending on the vacancy rate,there may possibly be an opportunity to negotiate a slightly lower rate, which can bring the rent of the apartment to within the renter’s budgetary
Alternately,the renter may decide he is willing to pay a premium for selected features such as a bigger living area,a choice location,or more desirable amenities.
Choosing a Location
Location is a significant factor for renters to consider when looking for an apartment.
An ideal location will be one which is not too far from family,work or leisure activities.
This is simply a matter of personal preference and will largely depend on the desires of the renter.
A number of renters may favor a shorter commute to their place of work.
To some it affords them more time to spend with their families,and to others,it might simply mean saving money on travel.
Renters also need to consider the surrounding areas when choosing an apartment.
There are definitely some renters who may enjoy being near social activities such as movie theaters and shopping centres.
Others may rather rent an apartment in an established neighbourhood away from the commercial areas.
Similarly,some renters may possibly prefer living in an apartment where there is nearby access to public transport while others may not favor this option.
Research Available Properties
After a budget has been established,the renter should begin researching the properties which fall within his budget range.
It is likely to consider properties which are somewhat above the range as well as properties which are slightly below the range.
These steps will permit the renter to see if there is an opportunity to either make improvements on the amount of monthly expenses to allow for the renting of a more expensive property.
The renter can also determine whether or not they feel there is the opportunity to negotiate a lower rental rate on a specific property.
When initially researching properties, the renter does not necessarily have to visit each property.
Majority of the pricing information can be obtained from nternet websites, newspapers and even rental magazines.
Since pricing is the primary interest at this point, the initial research will enable the renter to eliminate properties which are too far out of their price range.
Consider the Requirements and Amenities
Finally, renters should consider their requirements and preferred amenities when searching for an apartment.
Requirements might include criteria such as two or more bedrooms, two or more bathrooms or a minimum square footage.
These are criteria which the renter feels they must have in order to function in the apartment.
For example a family with two children might need 2-3 bedrooms while a single person may be able to function with only one bedroom.
However, a single person who works from home may require an additional bedroom to use as an office.
Renters should also consider the features they would like to have in an apartment complex.
This may include access to a pool or exercise equipment, the use of a home theater for residents or meeting facilities which are only available to residents.
Renters should carefully consider these options and determine which are most important to them.
Once the renter has narrowed down his list of possible apartment complexes or building to a more manageable number it is time to start visiting these properties.
It is during this step that the renter will really get a feel for the quality of the apartment as well as the amount and quality of amenities offered by the complex.
This is very important because this information can be used to decide between properties which are otherwise very similar.
The comparison shopping process is also worthwhile because it gives the renter some bargaining power in negotiating more favourable rent rates.
Renters who have visited a number of apartments likely have a good idea of the going rate in a particular area for a particular size apartment.
These renters can use this information to potentially convince some leasing agents or landlords to lower their prices at least a little bit.
There will not likely be huge drops in price from these negotiations but it will likely be enough to be considered worthwhile.