Renting 101: What Should I Rent?
GETTING STARTED: Not sure where to start looking? Hopefully this helps!
For most people there are 3 or 4 major considerations: Price, Commute, Space, Other
- PRICE: Begin with a maximum price point of about 25% of your monthly gross income. Then adjust based other expenses and debt, assets, and other considerations. Learn more about qualifying criteria here.)
- COMMUTE: Most people in our area look at properties within about 30 minutes of where they will be working. If you’re not from around here, you may not know the commute patterns, so getting advice from a “local” will be helpful. You can’t just look at distance and speed limits. But some people don’t mind driving and others hate it… you’ll have to adjust based on your personal circumstances and tolerance.
- SPACE: The maximum household occupancy for most landlords is 2 persons per bedroom, but honestly, most households of 4 are living in 3 or 4 bedrooms, so that’s more the “norm”. You know your household, and the space you need, so this is a very personal decision.
- OTHER: Do you need high speed internet? Maybe something wheelchair accessible? Some place you can bring a pet? A furnished home? Maybe a 3 month lease? Whatever your special needs, list them.
The next thought, of course, is to start searching online and see what is out there that meets the criteria. But which site(s) are best?
YOU MIGHT TARGET APARTMENTS IF
- You don’t need more than 3 bedrooms.
- You want a short term lease (less than 12 months).
- You are looking for something furnished.
- You need to move within a week.
- You need something wheelchair accessible.
- You don’t have a horse, cow, pig or goat you’re bringing with you.
If this describes you, I’d probably start looking for an apartment. Some apartments are listed through REALTORS, and you can usually find those listings right here on my web site (Search for Apartments For Rent HERE), you might also try www.Apartments.com and www.ForRent.com
YOU MIGHT WANT TO SKIP APARTMENTS IF:
- You plan to rent for a year or more.
- You need 3 or more bedrooms, a yard or just generally need more space than a typical apartment will allow.
- Or y simply can’t stand living so close to so many people.