4 Tips to Guide University Students Through the Rental Process

Before you start the rental process, especially if it’s your first time renting an apartment, you’ll want to be armed with as much knowledge as possible. Student renters in particular can often feel intimidated by taking on the responsibility of renting and dealing with landlords. But with a little bit of research and armed with the right questions, you can confidently navigate the rental maze. Here are four tips to help you become a savvy student renter:

Set a Budget

Before you start looking at properties, determine a comfortable rental budget. You (and any roommates) will be responsible for more than just the rent every month, so make sure to factor all costs into your calculations. Make sure you check out your credit score to get an idea of your approval odds. You can find out what is an average credit score to see how your holds up. There will be upfront costs, which might include first and last month’s rent, a security deposit, a pet deposit, a utility deposit, and renter’s insurance. You’ll also need to account for living expenses in addition to rent like gas, water, electric, television and internet. Research the rental market online to get an idea of what different types of property cost in the area. You can ask prospective landlords about what upfront costs are required, as well as the average utility fees for the property to estimate these costs.

Beware of Scams

Unfortunately, as inexperienced renters, university students are often targeted in rental scams. Knowing the warning signs of such scams can help you protect yourself. Watch for prices that are way below market price, a landlord asking for high fees upfront or a fee before you can see the apartment, and multiple excuses for why you cannot see the apartment (this implies they may not own the property). If anything about your interaction with a property owner or manager seems off, do some additional research. Check for reviews of the landlord or leasing office, ask questions about the property, and use a property website to see if the property is owned by the person or company who is claiming to own it.

Take Notes

Visit several properties and keep your phone handy. Once you’ve narrowed down your search to a few properties, arrange to visit each one. Although you probably already viewed photos of the property online, there are many things that will affect your everyday life that you can’t gather from those photos. Keep your phone handy to make notes and take your own pictures of the property. So many phones these days offer dual cameras that allow you to zoom and capture the depth of field; if yours doesn’t, bring along a friend whose does. It will be helpful to revisit these photos later when making your decision. Pay attention to things like how many power sockets are in each room, the water pressure, the heating and air situation, etc. Ask about neighbours, past pest issues, parking options, quiet hours, guest restrictions, and safety measures for the building. Walk around the neighbourhood to get a feel for what’s nearby. At the end of the visit, ask to take any documents with you to look over. No matter what, do not sign a lease before you’ve had a chance to thoroughly review the terms.

Be Prepared to Sign

Once you’ve decided on a property, you will likely need to fill out a rental application. Having the necessary information on hand will help expedite the process and ensure you don’t miss out on a great space. Most landlords will ask for information such as rental history, your national insurance number, proof of employment, personal references, and criminal history. As a student, you might be asked to have a parent or someone with an established credit history co-sign the lease. If the rental application is accepted and you are ready to sign a lease, make sure you take your time reviewing the document. Ask for clarification on any items you’re unclear on.

Renting a new place as a student doesn’t have to be an intimidating process. Arm yourself with knowledge and be ready to ask lots of questions, and in the end, you’re sure to end up with a great place to call home!

This is a collaborative post