This post was adapted from Rental Report: When and How You Should Start Your Apartment Search. You can find the original post, here.
Now that you have a good handle on when to start your apartment search, you may still be lost on how to get started. Moving can be an overwhelming experience if you don’t know what to expect, but it doesn’t have to be stressful. The following tips are some tricks of the trade to make your move as seamless as possible.
Do your homework
Nothing is more frustrating for you than realizing after you’ve decided to move that you can’t find an apartment you can afford. Understanding general rent ranges for the area is important. While there are certainly rock-bottom bargains out there, knowing the likely price you are going to pay will save you headaches later.
As a general rule, the low end for a studio or one bedroom is going to start around $1,500. Living near a Metro stop can lead to a rent premium, sometimes as much as a third higher than an off-Metro site where bus service and car use is more prevalent. Most places do not include utilities or parking so be sure to factor those fees into your budget. In the summer, rents are higher because of higher demand and lower vacancies. Also, understand prices change quickly. That is why most apartment sites show a range of prices. And if you see a unit at a price you like, keep in mind the price may be different a few weeks away when you are in town, if it is still available.
Keep an open mind
Just because you have decided on one area, keep an open mind because there may be another area that works just as well for you, if not better. If you have friends or family that live in DC, it is a good idea to talk to them about the different neighborhoods. A real estate agent can also be very helpful to help you determine neighborhood options that could work for your lifestyle and commute.
Keep it simple
Looking at 40 apartments in the same area won’t do much but make your feet hurt. If you know the location you like, find a few buildings with amenities you like and with a slight range in prices, look at those and then pick one. For the most part, apartments aren’t going to vary that much when keeping all things equal. Keep it simple and save yourself some time to check out the local area after you’ve found a great space.
Make appointments
This is especially important in the busy summer months. This will hopefully keep you from waiting at apartment buildings until an on-site agent is available to show units. Also, if they have a specific unit you are interested in seeing and it is currently occupied, they will need to give notice to the occupant to show it. If you are hoping to work with a real estate agent, try to call at least a week in advance so you can be sure they have an appointment available and ample time to coordinate with the different properties they will be showing you.
Be prepared
At a minimum, you need a form of identification, proof of income (two recent paystubs, W-2, or offer letter from a new position), and money for an application fee and deposit. Application fees generally run around $30-$60 depending on the property. At a managed apartment, you may have to pay a deposit upon application of a few hundred dollars to reserve the unit if you are approved. Some buildings take credit cards and some don’t, so be prepared with a checkbook, or possibly certified funds.
When applying for an individual condo rental, requirements vary as well, but be ready with an application fee, security deposit (usually equal to one month’s rent, but in Maryland and Virginia can be up to two months) and the first month’s rent. Each landlord does this differently, but generally they will ask for personal checks upon application. Once your application is approved, and you move forward with the lease, they will give you your checks back and ask for certified funds when you sign the lease. With individual units, you will sign the lease right away to secure the unit for your move date.
Looking for a new place in a new city can be exciting. Don’t let the search take that away by starting too early and getting frustrated. Also, don’t wait to enlist the help of an expert.
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