Getting ready for your first post-college apartment

Leaving behind the convenience of university owned or student-focused housing means it is time to enter the real world of apartment renting. If you are a first-timer to this experience, it can be a daunting one. The process of locating, applying and successfully being accepted as an apartment renter is no easy task, and is now fraught with the added stress of increased competition in the currently crowded apartment marketplace. For optimal success in your apartment search, consider these guidelines.

The process of renting an apartment should ideally take place in stages. These stages can be considered Preparation, Location, Application and Transportation. Each will play a vital role in your happiness and success at your new place, so follow them closely for best results.

Stage 1: Preparation

The first step for readying yourself for the apartment search and location process is to prepare the needed background materials and research information. There are two categories of preparation that must be carried out: preparing the documents and background information on yourself for the scrutiny of your future landlord or property management firm, and researching where you want to live. Creating a list of criteria for your future apartment will make the second step of the process, location, a much easier task.

Preparing your personal information: As a first time apartment renter, you will be subject to greater scrutiny than a longtime renter with an established credit report and good references from past landlords. Ideally, you will have some type of prior rental experience, even one from an on or off campus college dorm. However, while your parents or student loan payments may have been responsible for your collegiate residence, which will no longer be the case after college.

Parental cosigners are typically not allowed on apartment leases, so you will need to have provable income in order to rent your first apartment. If you do not have a job, a dependable source of alternate income, like assistance from parents or a savings account, will need to be shown. Some property managers may ask for a bank statement or account summary sheet, and they will require providing or paying for a credit report. Rather than being distrustful, these documents allow the company or individual who is renting the apartment to cover their bases and not rent to individuals who have bad credit or a track record of not paying their debts.

In addition to your financial paperwork, job information and recent residential history, you will be asked to provide references. These references should ideally consist of past landlords, employers, or people who know you well enough to vouch for your financial stability and apartment caretaking skills.  Be sure to never provide a reference’s contact information without checking with the person first to make sure they are OK with being contacted. You should also probably confirm that the reference they provide for you will be a positive one.

Once you have all of these items in order, you’re ready to apply for an apartment. That means it is time to find an apartment you want to apply for.

Stage 2: Location

They say that the basic rule of real estate is location, location, location, and in this case that’s doubly true. Locating your new apartment requires research, diligence and for you to define your opinions about where you’d like to live.

Price, location and convenience will all play a role in your selection of the right apartment for you. Establish your budget parameters by determining how much you can afford to spend on rent – and limit your search to apartments within that price range. This will save you lots of heartache later when you’re interested in a more expensive place. You should also note how much you have set aside for a security deposit, which could be a factor in where you’re able to rent. Deposits can often amount to almost two times a month of rent.

The location of your apartment should be convenient to where you work, workout, see your friends or whatever other pastimes are important to you. It doesn’t make sense to take a cheap apartment in a completely foreign neighborhood on the outskirts of town – the money that you save will just be put back into driving expenses to go to your job or hang out with your friends. If you’re stumped, run a search of the apartments that can be found within a close (5 mile) radius of your workplace. If possible, focus on the best pricing for your preferred amenities and lifestyle.

The most important part of locating your new apartment is to trust your gut. If you feel good about an apartment complex after viewing it online and in person, that’s a very good sign. You may want to ask yourself how you’d feeling about coming home to that apartment each day for the next year and see if it triggers any red flags. Use a convenient online listing service to find the perfect place for you.  Many properties now offer you the chance to go ahead and start your application process online.

Stage 3: Application

One of the most important points in the application process is to have all of your materials prepared and ready to go, which we’ve already covered in Stage 1. Be sure to make multiple copies of everything so you’ll be prepared to apply to more than one apartment opportunity.

After you’ve located the apartment you like, taken a tour and met the property manager, the next step is to obtain any application document or online portal address they have and submit your information thoroughly and quickly. If you are anticipating a competitive process for the possibility of moving in, express your interest to the agent and ask if you can provide any of the materials they may need, like a pre-completed application or a credit report, ahead of time. (A good way to find out whether there may be competition is to ask the leasing agent how much interest they have had in the unit, or how many units are available).

Once your application has been submitted, it’s time to sit back and wait. But you probably won’t be waiting for long. If you’re accepted to rent the apartment, it’s likely that you’ll hear from the agent fairly quickly. If you have waited two full days after submitting your application and heard nothing, it’s safe to call and inquire about your application status, and express your continued interest in the apartment.

Stage 4: Transportation

When your application has been accepted and you’ve dropped off your checks for deposit and first month’s rent, it will be time to start planning your move! The hard part is over, though it may seem like it is just beginning. Plan your move with the help of friends and family, enlisting their support as box movers and cleaners. Be sure to pack up all of your possessions ahead of time and see if you can get rid of any extraneous stuff.  Don’t forget to pick up cleaning supplies for both your old and new apartments. If you can arrange the use of a close friend’s truck, you won’t have to get a rental vehicle.  By the end of the day, you’ll be close to settled in your brand new apartment. Congratulations.