5 Tips For First Time Renters

Balboa Realty is the premier Orange County property management company specializing in finding you the perfect rental. Our team of experts is here for you every step of the way. Here are 5 things to know before renting your first apartment.  

1. Determine Your Rent Budget 

The very first step in the apartment hunting process is to figure out your personal budget. Go through your personal finances and calculate your average income and expenses per month. It is advised that your rent should be less than 35% of your total income before taxes. This ensures that you will be living comfortably within your means.

2. Seek the Help from a Professional 

When starting the apartment search, many people feel overwhelmed and like they have no idea where to start. Take a deep breath and seek the help from a real estate expert. This won't cost you a dime and they will work on your behalf to find you the very best apartment for all of your needs. Balboa Realty specializes in Newport Beach long term rentals is here to take the stress off your shoulders. Balboa Realty is a full-service boutique that offers experience, expertise and professionalism unmatched in the Orange County area.

3. Carefully Review Your Lease

Once you've found and been approved for your apartment of your dreams it's time to make it official. Signing the lease is an extremely exciting step and it's important to understand all aspects of the legal document. One items to consider is miscellaneous fees. The lease will specifically state what bills you are personally responsible for paying such as water, trash, electricity etc. These fees are on top of your rent and you will most likely be responsible for setting them up yourself. Also, look into the verbiage on rent increases, subletting, and notice of lease termination all of which are important for you to understand. Our Balboa Realty agents will always ensure the lease agreement is fair and is in your best interest. 

4. Do a Full Walk Through 

As soon as you move into your new apartment look over every room from head to toe for any damages, wear and tear, or things that aren't working properly. Now is the time to be a harsh critic and document everything thing by taking photos and send these to your landlord. This will prevent you from being charged when you move out. If you keep your apartment in good condition you can expect to get most of your security deposit back.

5. Purchase Renter’s Insurance 

Getting renter's insurance protects you from any unforeseen circumstance that is out of your control such as a fire or theft. On average the cost of a renter’s insurance policy costs about $15 per month and you can often get a discount by bundling it with other insurance like car or life insurance.

Published on Wednesday, November 23, 2016