Searching for your first apartment rental is exciting, but it can also be overwhelming. Choosing a good location, deciding on the perfect number of bedrooms, and finding ample closet space are just a few of the aspects you’ll need to consider when searching for your new place. Fortunately, the professionals at Tudor Oaks Properties, a rental company based in Ashland, Kentucky, are here to share their best apartment-hunting tips so that you can find a rental that meets your needs.
3 Factors To Consider When Searching for Your First Apartment
Determine Your Monthly Budget
The perfect first apartment rental is one you can comfortably afford. There are a couple of ways to determine the maximum amount of money you can spend on rent. Divide your monthly income — after taxes — by three, or divide your annual gross income by 40. For example, if you make $50,000 a year and your company withholds approximately 20% in taxes, you can afford $1,000 a month for rent.
Check Your Credit
Whether you choose to rent through a property management company or an independent landlord, make sure you know your credit score because this will be one of the first things they check. The federal government sponsors a free credit website that allows you to check your report once a year. If your credit score is below 650, then you may need a co-signer to be approved for a lease.
Choose A Neighborhood
Location is key. Whether you’re moving across the country or simply relocating to a different part of your current city, deciding on a specific neighborhood will help you narrow your search and stay within your budget. The best way to find your ideal area is to visit and ask friends and locals if they like where they live. It’s also a good idea to check with the authorities to see what the crime rate is.
From apartments to rental homes, the professionals at Tudor Oaks Properties can help you find your dream rental today! Call (606) 325-1240 to make an appointment, or visit their website to browse their current apartment rentals.