8 Essential Renting Mistakes Every Gen Zer Should Avoid

Navigating the rental market can feel like a minefield, especially for Gen Zers stepping out on their own for the first time. Whether you’re moving into your first apartment or relocating for a new job, being aware of common pitfalls can make your renting experience smoother and more enjoyable.

For young renters, the importance of thorough research using all available resources (Hello, Reddit!) cannot be overstated. This is a great way to get an idea of what to expect as you prepare to rent an apartment on your own or along with other Gen Z renters. Besides, there’s no need to rely completely on the internet. Ask friends or extended family members about recent renting experiences to gain even more insights and be better prepared for what’s ahead.

Knowing where to look is also important. Gen Z renters might already be familiar with popular listings platforms, but if you’re not there yet, a simple Google search might help you with that. There are also several guides on how to make the apartment search experience as safe and as enjoyable as possible.

To help with that, here’s a guide to the top renting mistakes you should dodge as a Gen Z renter to ensure you find what you’re looking for without overspending.

1. Failing to budget correctly

It’s easy to see a rental apartment that fits your paycheck and think you’re set. Gen Z renters or anyone who is new to the market can fall for this. However, many renters forget to account for other recurring costs like utilities, internet, parking, renter’s insurance, and even hidden fees, which can quickly add up. Before signing any lease, create a detailed budget that includes all potential expenses. This will help you see the full picture and avoid financial stress later on.

2. Overlooking the importance of location

While an apartment might look perfect online, the neighborhood could tell a different story. It’s crucial to consider what surrounds your potential home. Is it safe? Are there convenient transport links? What about local amenities like shops, parks, and entertainment? Spend some time in the area during the day and night to get a true feel for the neighborhood. If this is not possible, look up renter experiences online or check out property reviews if you’re eyeing a particular building. People might mention the neighborhood’s feel among other things.

3. Skipping the lease details

Lease agreements aren’t exactly riveting reads, but glossing over the details is one of the renting mistakes that can lead to serious misunderstandings. Pay attention to clauses about renting with pets, decorating, and subletting, as well as policies on late payments and lease termination. If anything is unclear, don’t hesitate to ask questions. It’s better to spend a few extra minutes on the contract now than deal with complications later. Don’t assume all lease agreements are the same.

4. Renting without seeing the property

Virtual tours are incredibly convenient, but they can be misleading. Photos and videos might not accurately represent the property’s current condition. If possible, visit the apartment in person to check everything works correctly and meets your expectations. This step can save you from unpleasant surprises on moving day. Plus, carefully inspecting the property is essential before moving on to the next step in the leasing process. Skipping this can be one of the renting mistakes that can cost you extra money and your peace of mind.

5. Poor communication with landlords

A good relationship with your landlord can make your renting experience significantly better. Keep communication lines open and respectful. If issues arise, such as maintenance needs or personal circumstances affecting your rent payment schedule, discussing them promptly can help find a mutual solution and maintain a positive relationship.

6. Skipping renters insurance

Many young renters overlook the importance of renters insurance, but it’s a safety net that can save you from financial ruin in case of theft, fire, or other damages. Obviously, the last thing you want when you rent an apartment, especially your first, is to add more items to your expense lists. Still, the cost of renters insurance is generally low compared to the protection it offers, making it a wise investment in your financial security. See it like this: Pay less now, so you don’t pay more later.

7. Not considering future needs

As a Gen Zer, you probably know by now that your life can change a lot in a year. Maybe you’ll get a job in a new city, decide to live with a partner, or simply desire a change of scenery. Consider choosing a lease term that provides flexibility, or at least understand the penalties if you need to break or change your lease early.

8. Ignoring the need for flexibility

It might look like we’re repeating what we just said, but it’s better to be safe than sorry when it comes to common renting mistakes. It’s also better to know that you can add some flexibility to your rental agreement from the get-go so that you don’t have to break a lease if you’re facing life(style) changes.

Life is unpredictable, especially in your 20s. Opting for a lease that offers some level of flexibility, such as sublet options or clauses that allow lease breaks under certain conditions, can be a lifesaver if your circumstances change unexpectedly.

Renting your first apartment is a major step towards independence, but it comes with its own set of challenges. By steering clear of these common renting mistakes, you can ensure your experience is as positive and stress-free as possible. Remember, a little preparation goes a long way in making your rental feel like home.