Apartment rental questions...

[BamBam215]

Thinking about moving out and I have a few questions. I know the answers will vary somewhat depending on the owner but I want to get a feel for what to expect.

1) What do you think is a good amount of money to have saved up if you want to get an apartment that's $500-600/month?

2) Deposits. What kind of deposits should I expect? Is it usually just one month of rents worth?

3) Should I enter a lease? What are the benefits of lease/no lease?

That's all I can think of for now. BTW, I'm in Southern California.

 

[notfred]

1) $1200-1500
2) Usually not more than one months rent
3) Typically if you enter a lease you get lower monthly payments, however you're stuck in the place for 6 months or a year or however long your lease is.

 

[N8Magic]

1) $1500.00, just in case something comes up.
2) Most places require first and last months rent when moving in.
3) Enter a lease if you plan to stay there. That way you have the security of knowing you won't be booted out unless you break the terms of the lease.

 

[BamBam215]

So then I should get into a lease if I plan to stay put then? Do private owners usually offer a choice of lease or no lease?

 

[m2kewl]

1) have a month or two of extra $$ to cover your rent.

2) usually 1 or 1.5 month deposit

3) no lease, they can boot you anytime.

 

[m2kewl]

Originally posted by: BamBam215
So then I should get into a lease if I plan to stay put then? Do private owners usually offer a choice of lease or no lease?

talk to them. just make sure you get it in writing. take pics of the place before you move in.

 

[RossMAN]

1) Wait until you have at least $1,500 saved up

2) Usually depends on your credit but often times it's one month's rent

3) Some places will give you 1 MONTH FREE rent if you enter a 12 month lease but then you're STUCK there for 1 year. What if you have horrible neighbors and you can't sleep at night? No worries just another 11 months 29 days left in your lease. So I would stay there a month or two, see if you like it then consider entering a lease.

 

[BamBam215]

if u have a lease, is it possible to pass it onto another person? my boss's husband is renting a place now for really cheap because he's been there for so long. be great if i can pass off as being his brother or something and continue his lease at the rent he's paying.

 

[YaKuZa]

Originally posted by: BamBam215
if u have a lease, is it possible to pass it onto another person? my boss's husband is renting a place now for really cheap because he's been there for so long. be great if i can pass off as being his brother or something and continue his lease at the rent he's paying.

Yes, most places let you transfer leases. Just have to sign some papers.

 

[BamBam215]

ooh another question. Do most places want you to fork up the rent at the beginning of the month? if so then that would mean deposit + 1st months rent + $1,500 just to move out. that's a lotta money.

 

[RossMAN]

$1,500 is the total move in costs

$500 first month
$500 deposit
$500 last month

 

[necro702]

Always best to have a little extra money. $1400-$1500 would be ideal.

If they are private owners you might be able to get them to work with you on the deposit
and what not. If the rent is $600 then ask them if they would take $300 deposit.

good luck

 

[BamBam215]

Originally posted by: RossMAN
$1,500 is the total move in costs

$500 first month
$500 deposit
$500 last month

damn. that's like how much i have now.

 

[Nyical]

Originally posted by: BamBam215
Thinking about moving out and I have a few questions. I know the answers will vary somewhat depending on the owner but I want to get a feel for what to expect.

1) What do you think is a good amount of money to have saved up if you want to get an apartment that's $500-600/month?

2) Deposits. What kind of deposits should I expect? Is it usually just one month of rents worth?

3) Should I enter a lease? What are the benefits of lease/no lease?

That's all I can think of for now. BTW, I'm in Southern California.

1) Have at least 1300 to 1500 saved

2) 300 - 600 for deposit + first or last months rent, but never all 3

3) Yes lease, if not on a lease they can up your rent on you

 

[notfred]

Originally posted by: BamBam215

Originally posted by: RossMAN
$1,500 is the total move in costs

$500 first month
$500 deposit
$500 last month

damn. that's like how much i have now.

At my apartment complex, they only charge first month and deposit, we paid $740 for first months rent + $500 deposit to move in, and that was it.

 

[amnesiac]

Originally posted by: m2kewl

2) usually 1 or 1.5 month deposit

3) no lease, they can boot you anytime.

Sometimes it's first and last month's rent, plus a security deposit of about 60% of one month's rent. Sometimes more, sometimes less.
I've never heard of "1.5 month deposit"

A lease is a contract, ensuring security for both parties.

Granted, a landlord can evict you at any time for any reason, but it is MUCH harder to do with a lease, VERY expensive, and I believe takes a 60-day notice plus they have to pay for part of your relocation. It's a big PITA.

 

[Nyical]

Originally posted by: Tyler

Originally posted by: BamBam215

Originally posted by: RossMAN
$1,500 is the total move in costs

$500 first month
$500 deposit
$500 last month

damn. that's like how much i have now.

At my apartment complex, they only charge first month and deposit, we paid $740 for first months rent + $500 deposit to move in, and that was it.

I know in California its illegal to charge for first,last +deposit, makes sense to me, why the hell should one pay for a prior month for an apt you never occupied.

 

[Luhny]

my security deposit is 1.5 months. refundable when you move out if no major damage is done.
Like others have said if you sign a lease they cant change things on you but your in for that long. Also going to a private person is a good way since they might not have many houses to take care of.

 

[optoman]

A general rule of thumb is to have enough money to last three months. It should be liquid as in cash or some other form were you can get to it in a hurry if need be.

 

[anno]

you're going to want utilities too.. sometimes they require deposits as well, especially for a young person just starting out so you should look in to how that goes in your area and add those costs into what you need saved up. 2 months rent + utilities + gas and grocery money in addition to move in costs would be my goal for moving. well.. actually.. this point in my life I'd rather 6 months but if I was younger, 2 would do me.

you're going to need *stuff* too, probably. take a realistic look at what you have and what you'll need. you need something to sleep on, something to sit on, something to eat on, stuff to cook with, stuff to clean with, something to provide light and something to provide noise.. these are minimum requirements. you may have a lot of that already, you can get as much of it as you want at goodwill, but even that takes some money.. budget for it.

in the shouldn't need saying but sometimes does department, you need to make sure you have a reliable income at least = to your monthly rent + utilities + gas and groceries too! you want that extra you have saved up to stay saved up.. it's for emergencies!

anno

 

[DT4K]

I've always needed first months rent plus a deposit that is roughly the amount of the rent. So for a 500 a month place, you are likely to need at least 1000 to move in. But it would be better to have some extra saved up just in case.

Take detailed pictures of the whole damn place and make sure your move-in condition report lists every single scratch, dent, piece of dust or dirt, or anything else that is even slightly less than perfect. And make sure the manager or owner signs that report. If you do lease and decide to move out early, as soon as someone else moves in, they have to stop charging you. They can't charge 2 people rent for the same place during the same time period. Of course if you are responsible for 12 months of rent, and you move out after 6, they don't have much motivation to try to quickly rent the place.

I have lived in about 8 rentals over the last 12 years, and at least 50% of the time, when I moved out, they tried to screw me on the deposit and charge me for all kinds of stuff that was already damaged or dirty when I moved in. All in all, I think landlords are worse than used car dealers and the only way to protect yourself is to make sure that when you move out, you have absolute proof that you did not cause the damage they are trying to charge you for.

 

[BamBam215]

should i even bother with renter's insurance?

 

[anno]

renters insurance = yes, if you got any stuff you want to replace but can't afford to in case it's stolen or flooded or burned up or something..

anno

 

[necro702]

YES get rental insurance!

 

[przero]

Renter's insurance also supplies liability insurance. If your toaster catches the apt. on fire and burns down the building, you ,not the owners are responsibile. Renter's insurance is necessary. Here in Louisiana you are not likely to rent an apt. in a complex w/o a lease.