How to rent an apartment

How to Rent an Apartment As a Student: Your Top Questions Answered

This article was co-authored by wikiHow staff writer, Eric McClure. Eric McClure is an editing fellow at wikiHow where he has been editing, researching, and creating content since 2019. A former educator and poet, his work has appeared in Carcinogenic Poetry, Shot Glass Journal, Prairie Margins, and The Rusty Nail. His digital chapbook, The Internet, was also published in TL;DR Magazine. He was the winner of the Paul Carroll award for outstanding achievement in creative writing in 2014, and he was a featured reader at the Poetry Foundation’s Open Door Reading Series in 2015. Eric holds a BA in English from the University of Illinois at Chicago, and an MEd in secondary education from DePaul University.

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Moving out of student housing and finding a place of your own can be an exhilarating process. It’s easy to get swept away spending hours scrolling through listings looking for that perfect pad! But if you’ve never rented an apartment as a student or this is your first time renting a place, you may have questions about how this process works. The first step is to contact the landlord to take a look at the place, and this is where it helps to mention that you’re a student. If you like the apartment and it’s within your budget, your status as a student shouldn’t keep you from the getting the place—especially if you have a co-signer to cover your obligation to pay the rent.

How Do You Rent an Apartment?

Charlene Rhinehart is an expert in accounting, banking, investing, real estate, and personal finance. She is a CPA, CFE, Chair of the Illinois CPA Society Individual Tax Committee, and was recognized as one of Practice Ignition’s Top 50 women in accounting. She is the founder of Wealth Women Daily and an author.

Whether you’ve just graduated from college or have simply outgrown your parents’ home, at some point, you’ll take part in an inevitable rite of passage into adulthood: renting your first apartment. However, finding a new set of digs isn’t easy, especially if you’ve never done it. Where do you look? What’s the process?

Don’t fret. While a daunting step, it’s one that can be taken with the proper preparation. Here are a few tips that’ll have you calling a new place your own in no time.

Where to Look for an Apartment

So you have your dream pad already fleshed out in your head. You’ve even begun to visualize furniture placements, but you may not have given much thought to where that apartment will be. Luckily, thanks to the power of the internet, there’s no shortage of sites to aid in your search. Consider looking for apartments on:

You can look for apartments on these sites within a price range you specify, and within certain neighborhoods. Of course, always beware of potential online scams when looking for anything on the web. Don’t ever give out personal information without first seeing an apartment.

If you’re not sure where to start your search, begin by asking friends and family. Someone might even know of a particular building you might like that has vacancies. Be sure to do some exploring of your own as well.

If you get a recommendation for a neighborhood you’ve never spent much time in, take a drive out there and walk around a little. You can get a feel for many neighborhoods pretty quickly, especially when you’re walking. Not only that, but some buildings don’t bother advertising online, and you might find those open apartments advertised on the street.

What to Consider

Looking for an apartment may seem like the easy part, but there are a lot of things to consider in the process. Where you live can affect your environment and mood, as well as your finances. Ultimately, you want to find the right apartment for you, so be sure to account for these factors:

Applying

Once you’ve found your dream apartment, it’s time to apply. Get an application from the property management company or landlord and fill it out as soon as possible. Good apartments go fast, so you’ll want to complete the paperwork quickly.

Typically, you’ll need to fill out your basic personal information and provide certain documents as part of your application. Those documents could include:

Ultimately, these documents can help prove you are a viable candidate for an apartment. Landlords want to know that you have good character and credit references, stable employment, income that will easily cover rental costs, and a lifestyle that will be a good fit for the apartment.

Unfortunately, just because you apply for an apartment doesn’t mean you’ll get it. In some cases, you may be rejected because of your credit or income. A co-signer may help you overcome these credit and income limitations—but make sure you aren’t renting beyond your means. Be sure to understand what the eligibility requirements are before paying a non-refundable application fee for an apartment.

Getting Approved

After submitting your application with the required documentation, you wait. Getting approved for an apartment may take a few business days or more, depending on the requirements. Once you’re approved, the landlord or property management company will typically call you and let you know.

The next step is to secure the apartment and make it your own by putting down a security deposit. A common security deposit amount is one month’s worth of rent. However, this figure is entirely up to the property management company, so exact security deposit amounts vary from one apartment complex to the next.

Your security deposit is held in case there is any damage to the property when you move out. If your apartment is in good condition when you leave, you will likely get it back, but the concept of «good condition» is another factor that varies from one property management company to the next. If you want to ensure you get as much of the security deposit back as possible, check online reviews of the company to see what former tenants got dinged on during their move-out inspections.

As you can see, move-in costs can add up, so it’s important to budget ahead of time. The landlord or management company will expect these costs to be paid in cash upon move-in.

Once you have moving costs covered, you will likely need to sign a lease for the apartment. A lease is an agreement between a lessor (such as an owner or landlord) and a lessee (such as a tenant, or in this case, you). You will also hear the lease referred to as a rental agreement.

The rental agreement will usually be presented after a credit check is already completed and the property management has decided they want to accept you as their tenant.

The rental agreement is a document that will outline all of the fine print such as:

It’s important to review all the terms of your rental agreement, so you know where you stand. The rental agreement acts as a legal document to protect both parties. Once you’ve signed the lease, you are legally bound to stick to the terms of the lease, including your monthly rent payments.

With the lease signed and the deposit paid, your landlord will give you the keys and a move-in date so that you can have your own home sweet home.

Bottom Line

Renting your first apartment can be an exciting and daunting task, especially if you’ve never done it before. The more you prepare, the smoother the apartment hunt will go. Do your research, know what you’re looking for, and have the cash ready to deploy at a moment’s notice once you’ve found the apartment of your dreams.

Frequently Asked Questions (FAQs)

What credit score do you need to rent an apartment?

There’s no standard credit score for renting an apartment, but the higher your score, the more likely you are to be approved. This is because landlords will assume you are more likely to keep up with your monthly rental payments. If you have bad credit, you may be able to overcome it by getting a co-signer or by paying for several months’ rent before you move in.

Who can help me find an apartment for rent?

An apartment broker is a real estate broker whom you can pay to help you find an apartment. They specialize in working with rental tenants and landlords or management companies. In some areas, working with a broker may be the only way to find an apartment. In other areas, you may be able to get help from your personal network of friends, family, or coworkers to connect with someone who is looking for a roommate or tenant.

Can I rent an apartment without proof of income?

If you don’t have proof of income, you may have a hard time finding an apartment to rent. If you have an excellent credit score and can either show sufficient savings or pay more money up front, you may be approved by the landlord or property management company. Most likely, though, you will need a co-signer or guarantor in order to be approved.

Everything You Need to Know About Renting an Apartment

By Michelle Clardie

Updated March 17, 2022

All of the considerations involved in renting a property can sometimes seem a bit overwhelming. Where do you look for an apartment? How do you qualify for an apartment? What is a rental agreement? What expenses should you include in your budget? We know — there’s a lot to think about.

This guide breaks the process down for you, end to end. We walk you through how to rent an apartment, step by step — including what factors to consider when looking for a suitable place, how to get your rental application approved, and what to plan for, so you can get ready to move in.

What to consider when renting an apartment

Apartments come in all shapes, sizes, and setups. Finding the perfect apartment is largely about defining your unique needs and preferences. Don’t just type “rent apartment” into your Google search — that will open the floodgates. Instead, make a list of your apartment must-haves and consider these factors:

Where to look for an apartment

With so many websites listing apartments for rent, it’s easier than ever to find a new apartment. Here are a few sites to help you start your search:

How to submit an apartment rental application

When you find an apartment that meets all your most important criteria, it’s time to submit an apartment rental application. This application gives the landlord the information he or she needs to determine whether or not you qualify to rent the apartment.

Most rental applications require a non-refundable application fee, so before you complete a rental application, ask your landlord about their credit and income requirements. The landlord may have a minimum required credit score. And he or she will likely have a specific income requirement (this varies by location, but it’s common for landlords to require your gross monthly income to be approximately 2.5 times the monthly rent amount). This is also a good time to discuss any concerns you may have about qualifying. If you have a criminal conviction or an eviction on your record, or have a large dog that may not be allowed, mention these concerns to the landlord before applying.

The application will cover your personal information, including full name, birth date, social security number, driver’s license number, contact information, and recent employment and rental history. The landlord also might ask you to list personal references on your application.

Here’s a list of everything you’ll need to complete your rental application:

What landlords will consider during the approval process

First, the landlord will review your income to make sure you can afford the rent. Then, he or she will review your credit report to see if you generally pay your bills on time. Depending on your local laws, the landlord may also run a background check to see if you have any criminal convictions. Finally, the landlord will likely contact your previous landlord and/or your references to confirm that you are reliable and responsible.

The landlord will be checking income, credit, and (possibly) criminal backgrounds for every applicant. Keep this in mind if you’re applying with roommates or a cosigner. An issue with their application could prevent you from qualifying for the apartment.

Understanding your rental agreement (aka your lease)

Your rental agreement (commonly called a lease) is the document that outlines the terms and requirements of your rental. It will list important information, like the rent amount, monthly rent due date, late fees, deposit amount, and lease expiration date. It also outlines apartment policies and rules that govern how you behave on the property. This section commonly includes policies on everything from quiet hours to keeping any patios or balconies clean.

The lease also documents several “what if” situations. What happens if your rent is late? Who should you contact if you need maintenance repair? What if you need to break your lease? Can you renew your lease for another term? Are you able to add a pet later? Do you have permission to sublet your apartment? All of this will be covered in the lease.

Make sure to thoroughly read your lease. Make a note of anything that you don’t understand, or that pops out as a red flag. You must understand your lease before you sign it.

All applicants will sign and date the lease, as will the landlord. All signatures must be on the document before you get keys, so if you have roommates or a cosigner, make sure everyone is available to sign the lease on (or even before) move-in day so you won’t have a problem getting access to your new apartment.

Make sure to budget for these unexpected rental costs

Renting a property requires more than just the rent amount. There are a few additional costs to be aware of.

Before you move in, you’ll have a few upfront rental costs. There’s the rental application fee, the rental deposit, and the cost of the movers or moving truck. You will also have to pay the first months’ rent upfront, and (depending on your local market customs), you may have to pay the last months’ rent upfront also. And if you’re bringing a pet, make sure to ask your landlord if they require an additional pet deposit and/or monthly pet rent.

Then there are the unexpected ongoing costs of renting an apartment. Some utilities, such as water, sewer, and trash, may be included in your rent. But they might not — check your lease!

Usually, your rent amount doesn’t include electricity and internet, so be sure to include these costs in your monthly budget. There might also be separate monthly fees for optional spaces, like parking spots or storage units.

The bottom line

It’s important to understand how to rent an apartment before you start your search to ensure you’re prepared for the process. Once you find a place that meets your criteria, you need to prove to the landlord that you’re responsible enough to be a good tenant. Making enough money to afford the apartment and having a solid credit history are keys to getting approved. And budgeting for the extra expenses that come with renting will make your rental experience as low stress as possible. Make sure you read over your rental agreement before signing and comply with all terms of the lease while you’re a tenant.

Frequently asked questions

What is the best month to rent an apartment?

If you’re looking to get the lowest rent and best move-in deals, December is the best month to rent an apartment. Very few people like to move during winter weather and the busy holiday season, so landlords often offer incentives during this time.

How do you qualify for an apartment?

A good credit score, a reliable source of income, and a positive rental history all help you qualify for an apartment. If you don’t have enough credit history, income, or rental record, you can still qualify by having a cosigner share the responsibility for the apartment with you.

What expenses do you have when renting an apartment?

The primary expense when renting an apartment is the monthly rent. You’ll also have a few upfront expenses, like the application fee and deposit, and a few ongoing expenses, like electricity and internet. Depending on the services your rent amount covers, you may also have separate expenses for water, sewer, and trash.

Michelle recently traded in her 15-year real estate career for the chance to live abroad. She’s currently living in Frankfurt, Germany, loving her new life as a real estate content writer, personal finance blogger, and coffee connoisseur. And she believes in Oxford commas.

Six Tips for Renting an Apartment

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Ready to Rent an Apartment? Before you do, you should read this specific article. This is not necessarily a quick read post, but it does have a lot of valuable content with regards to tips and things to consider before renting your first apartment.

1. Determine Your Budget

Before you begin your apartment search, you need to understand how much money you can afford to spend on rent. In other words, you need to develop a budget. Experts suggest spending no more than 30% of your annual income for housing costs. This is just a general guideline. (1)

2. Determine Cost of Additional Fees

3. Determine the Features and Amenities

Before beginning your apartment search, it is important to determine what your needs are versus your wants. In other words, what are the features and amenities that you would like in your new apartment? One needs to consider location prior to searching for specific amenities and apartment features. Is the apartment close to work? How long will it take to get to work? Is public transportation available? Is the apartment located near shopping, schools, and houses of worship? Once you have narrowed the location to an area, neighborhood or zip code, you need to consider features and building amenities. Be sure to take into account whether you need a two bedroom, one bedroom, or studio apartment.

If you need a two bedroom, do you need two bathrooms? Many buildings are walk ups, and therefore you need to determine the importance of floor location to your family. You need to consider the importance of having a modern kitchen, balcony, washer and dryer in your apartment, type of construction, and building safety among other features. You need to consider how important amenities such as a club house and pool are to your family. By determining in advance the importance of the many available features to your family, you can be more productive in your search, and ultimately in your satisfaction of your new home after moving in.

4. See the proposed apartment before you sign your lease

Whenever possible, ask to see the actual apartment you’re looking to rent. Even if it is exactly like the model, it may be in a location you find undesirable. This will also give you a chance to see the condition of the apartment, and just as important, the condition of the common hallways and grounds. A dirty hallway, if trash all over, is indicative of the management company’s priorities, as well as the tenants, and more specifically, potentially your future neighbors. It also gives you an opportunity to see the outside lighting and hallway lighting, both of which are important from a security perspective. Looking at the apartment you are going to rent will remove most, if not all, surprises.

5. Review your Lease

Make sure you take the time to review your lease. The majority of every lease is standard, but each owner has specific rules and regulations with regards to when you can move in, use of the laundry, what is and isn’t permitted within your apartment (grills, barbeques, water beds are often banned), and penalties for paying late. You should confirm all the fees and costs that you were verbally provided are in the lease. Confirm the term of the lease, and the notice provisions requirements. The notice provisions will contain language as to how many days in advance of the end of the term notice to terminate is required to be sent, and to whom and how that notice must be sent.

The lease is a contract and it obligates the Tenant to its provisions, therefore, you need to understand and review all of the lease provisions. Generally speaking, the signatures of a lease are jointly responsible for the obligations of the lease. Therefore, if you move in with a friend, and they leave, you remain responsible for all the obligations of the Lease.

6. Obtain Renters Insurance

(1) Totaling your monthly expenses to determine how much you have available to spend on housing should be your first step in crafting your budget. The Kiplinger Company provides a handy calculator called the Household Budget Worksheet for this specific purpose. Fill in those lines for which you have known expenses, estimate your unknown expenses. If you leave the rent paid line blank, the difference between expenses and income will be the maximum rent you can afford to pay. The calculator provides a structured way for determining your total monthly expenses, and includes line items for utilities. In this regard, you may be able to get some guidance from your utility company as to the average costs within any proposed property for electric and gas. Keep in mind, however, that the cost of utilities will vary based on household preferences with regard to what is a comfortable temperature setting and how much energy you’d like to use or not use. Make sure you understand what is and isn’t included with the rent you pay. Many buildings charge for trash removal and water/sewer.

As in any budget, some expenses will be fixed, wherein you won’t have the ability to lower the costs. For instance, such fixed expenses include recurring payments that absolutely must be paid, and are nearly always independent of the specific property or location. These expenses include car and student loans, car insurance, food and healthcare. Some expenses are classified as discretionary income such as entertainment and vacations. These are expenses where the family has discretion as to the money they spend for the specific purchase. In determining your budget, you will need to weigh or prioritize these expenses. This will directly impact the money you have available for monthly rent.

How to Pick an Apartment

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If you’re ready to pick an apartment, you’re in for a journey that should be both fun and exciting, it will also be hard work. It’s fun because you’re choosing where you’re going to relocate, which is generally associated with positive change, a new start, certainly a new lifestyle. It’s hard work to logistically gather and review all the information that goes into narrowing the choice to a few communities, and then of course, visiting each of the “finalists” before choosing the right apartment to call home.

It will be a lot easier getting to the point where you are ready to pick an apartment if you take a step-by-step approach. Here are nine simple steps for how to pick an apartment:

1. Pick an Area
A good first step is to pick an area or location that you think you want to live in. The area dictates and controls the search. After all, you can’t magically drop just any building in the area you want to be in. Having a location in mind limits the search in an often positive and productive way. If there are multiple areas you are interested in, that’s okay too, but just know you will have more options to sort through.

2. Delineate What You Want
Decide what’s important to you in an apartment.

What type of building do you prefer? A building where you can walk up to your apartment (sometimes referred to as a garden-style apartment building), or a high-rise elevator building?
Do you need parking? Find out if parking is included, and if not, if it is available and what it costs.
Then consider what you need to live near, whether it’s stores, public transportation, parks, schools, places of worship, restaurants, highways, or something else. Decide how long of a commute you’re willing to do.

You’ll also want to determine the apartment size that’ll work for you. Some people delineate the rooms that they need, for instance, two bedrooms, a bathroom, kitchen, living room, and dining area. Others think in terms of square footage. There is no right or wrong. Use whichever parameters work best for you.Another consideration is the apartment style. Do you prefer the quaint charm of a renovated old building? Or is there another apartment style you might like?

What about the amenities? Some of the most sought-after apartments offer a pool and clubhouse, which are ideal for relaxing, working out close to home and meeting your neighbors. Also, if there is no washer or dryer in the apartment, you may want to make sure shared laundry facilities are available and convenient. Other amenities that might be important to you include 24/7 security surveillance and easily accessible parking.
If you have a cat, dog or any other pet, and want to bring them, add that to your must-haves.
Your list should include good, reliable management and maintenance services. That’s something that everyone needs, but not every apartment community provides.

3. Determine What You Can Afford
It’s one thing to know what you want, but can you afford it?
There are a couple of simple guidelines to help you determine a realistic rental budget. One recommends allocating 50% of your take-home income to essential expenses, such as rent, phone, insurance, utilities and food, 20% percent to financial expenses and goals like debt payments, savings, and investments, and 30% to day-to-day spending on things like travel, movies, shopping, eating out at restaurants.

4. Do a Quick Scan of the Rental Market
Now you want to find out what’s available, where it is and how much it costs. To do so, pick up a local rental guide or search for apartment websites online. Put together a list of apartments that offer everything on your checklist.

5. Perform a Reality Check
Now you know what you want. You also understand how much you can afford to pay for it and how much it might cost.

Unfortunately, if you’re like most people, there may not be an exact match between your ideal apartment and what squeezes into your budget. So now you have to consider the trade-offs you are willing to make. For instance, you might not be able to live in the trendiest neighborhood, but perhaps you could find an apartment within a short distance of it. Alternatively, the dream of a two bedroom apartment where you could use one for your bedroom and the other for a study may not be within reach. Perhaps you can make do with a one-bedroom apartment by sneaking your desk into the corner of the living room or bedroom.
After doing the reality check, you should have a refined definition of the apartment. Take another look at the apartments that are available with this in mind and come up with an appropriate list of prospects.

6. Look at the Reviews
You likely only want to visit apartments that are worth your time, so check the online reviews of all the potential residences on your list. This process may help you weed out some options that are poorly managed or maintained or noisy.

7. Visit the Finalists
You’ve done your homework, so now it’s time to visit the finalists on your apartment list. When you do, look beyond the aesthetics to the livability. That means ensuring you’re comfortable when you walk on the property, the staff seem friendly, you could envision yourself living there and it meets your criteria.

8. Compare Apartments and Ask the Right Questions
After visiting, you likely want to compare apartments, among other things, on value and location, lifestyle, and reputation.

9. Read the Rental Agreement
You’ll want to read the lease and make sure you’re comfortable with it. That means checking how the management handles utilities, the security deposit, insurance, how the lease is renewed, the terms for showing the apartment when you’re ready to move on, and more questions to ask before signing a lease.
While the task of picking an apartment may feel overwhelming, if you break it down into these steps, it’ll be a lot easier.
As you prepare for the next stage in your life and begin to get ready to move into your new home, be sure to prepare and consider these packing strategies.
Hopefully, this article provides you with a nice start. Happy Renting!