Tips for First-Time Renters

Living independently isn’t always easy. Being a first-time renter is really a big deal. You might think that you are now on your own and you can finally do whatever you want. It also means paying for services that you’re not used to pay before.

We all want a great and peaceful living, hence, you must consider follow these first-time renter tips to make your living great and peaceful one.

Determine how much you can afford

A budget plan can help you grow your savings for rent, utilities, home décor and more. You never want to spend more than you can realistically afford on rent for your first time apartment. Spending less than 30 percent of your gross income on rent is one of the best ways to save.

Do not forget to include your monthly expenses, and make room for unexpected costs when creating a budget. Also, you might want to consider living with a roommate, this will help you save money and stay within budget.

Choose a location

When picking a location to live, think about these five things:

  • Proximity to work or school. If it’s close, you may be able to walk. If it’s further away, you’ll have to drive or take public transportation which could be an extra cost.
  • Transportation options. Scope out the subway, train or bus options.
  • Get a feel for the vibe of the neighborhood as well as local restaurants, stores and businesses.
  • Pay attention to things like parking and lighting. Neighborhood apps are great investigation tools as well to get the skinny on crime or other safety issues.
  • Convenience to neighborhood attractions.Whether it’s bar hopping, dancing, sports or chess club, make sure the fun in your life is convenient and accessible.


Decide if you Need a Roommate

Depending on where you live, renting can prove incredibly expenses. If rent soars above the 30% recommended rule, consider looking for a roommate to split the rental cost.


Once you’ve decided that a roommate is right for you, it’s time to start finding a roommate. Consider what makes a compatible roommate and what kind of lifestyle you want, and what you can’t tolerate. It’s also important to keep in mind about what will make your roommate happy and what kind of conditions they prefer. You can include all of those conditions in your future roommate agreement.


As a first time apartment renter, a roommate can be a big win. You could end up as lifelong friends, keep your costs down, and enjoy the support and comfort of having someone around.


Know what utilities are included

Some apartments may come with included utilities and others will not. If included utilities are important to you, add it into your search since the cost can affect your budget. Talk with your property manager about the utilities that will be added to each rent payment.

First-time renters will likely have to set up new accounts with utility providers – and it can cost you some money upfront. One-time fees and equipment rentals are common when setting up your utilities, such as electricity to your apartment and cable/Internet.

Consider the parking situation

Think about your comfort level and the type of car you have. Consider whether or not you need a covered space, assigned parking, or if on-street parking is readily available and safe. It’s also important to look at your car insurance policy. You may discover your rates could go up or down depending on your long-term parking situation.

Read and understand the lease

Read the contract in its entirety and note the concerns that you see. If you and the property manager had agreed to something during the tour, see that it’s been written into the agreement. If not, they may not be legally required to hold up their end of the deal.

Understanding the apartment lease agreement is beneficial for you. Request a copy if you need to refer back to something. It will tell you when rent is due, what the late fees are, the pet policy, and how to submit a maintenance request, among other things.

Get Renters Insurance

Renters insurance is a form of property insurance that covers losses to personal property and protects the insured from liability claims. This includes injuries occurring in your rental that aren’t due to a structural problem. Injuries due to structural problems are your landlord’s responsibility. Renters insurance protects anything from a studio apartment to an entire house or mobile home.

If you are a first time renter, Renters Insurance might be new to you. Don’t hesitate to ask for help and talk to your insurance providers. You may also contact or email ONYX Insurance Brokers, we are very willing to assist you on your needs.












Skip to content