Below are a few tips and tricks to help students better deal with the transition into their first rental and a big step into being out on their own:
• Read your rental agreement carefully and get very familiar with it. There should be no surprises when moving in or out of a new place. Make sure you know all the costs up front, like security deposits, pet deposits, or additional charges for water, sewer, garbage collection and anything else associated with utilities. If you are familiar with your rental agreement and get all of this information at the beginning of a lease, there will be no surprise payments to cause stress or financial trouble.
• The financial obligation of moving into a new place can hit your wallet hard – especially for first time renters. It is better to be prepared for all costs up front by keeping track of your bills and recording your spending for one month PRIOR to moving into a new place. Record absolutely EVERYTHING. This is not the time to skimp or hide costs, be honest and make sure you can afford the lifestyle you’re living. Add up food costs, entertainment costs, clothing, and all of your utility bills, which include electricity, water, cable, internet and phone. After a month, you will have a clear view of how much you typically spend in that amount of time – and the total might surprise you.
• If you are going to have roommates, make sure you know them well. These roommates will be there for the length of your rental contract and you need to be sure that you can live with them and be around them for extended periods. Roommates can either make or break your living experience and if you are hesitant about someone you are moving in with, don’t do it! Listen to your instincts.
• Before moving into a certain area, check out your neighbors. Knock on their door and get to know them and get a feel for their lifestyle. Just like a roommate, a couple of good or bad neighbors can make a world of difference.
• Before your big move, make a list of all the things you need. You can start buying things as soon as you want and save them for your move. It’s better to get these things gradually rather than all at once, or it can take a big bite out of your budget. If you are moving in with a roommate or two and have more than you can use, make sure you have a place to store your additional things. Mom and Dad don’t have room for everything, so figure out what you need, who is bringing what and find a safe, affordable place to put the rest.
• Don’t forget to ask about student discounts! Part of the excitement of college is moving out of your parent’s home or the dorms and getting your own place for the first time. Like most things, a little bit of planning and preparation can go a long way towards a smooth transition. Thinking of the small things and laying out a budget in advance can do a lot to make sure that the memories of a first apartment or rental are good ones.
