How much should I expect to pay?
The right place does not have to be the most expensive option. It takes persistence to find something that meets your needs and budget.
Look out for...
- Extra expenses: Parking permits, utilities, cleaning fees, security deposits, and down payments may turn a low rate more expensive than a slightly higher, all-inclusive rate. Some managements claim a low rent fee, but then charge more for other random fees. Be sure to ask about the utilities you're responsible for paying and what the average cost is.
- Yearlong contracts: If your plans change, contracts that require a yearlong lease can be difficult to sell. Management will often tell you otherwise, but many times students end up paying rent for an apartment they aren't living in.
- Confusion over utilities: While many utility payments are included in rent, some utility expenses are charged to an account that’s set up by the tenant.
- Laundry resources: If necessary, ask about laundromat rates and see if it would be more or less expensive to have a washer and dryer in unit. Keep in mind potential increases in rent, utilities, and monthly estimate of laundry costs.
- Walk Score: If you're wondering about the quality of the apartment you're considering, then check out Walk Score. It provides detailed information about your apartment options, such as commute time, public transportation, neighborhood, and other nearby resources.
- Transit Score: Will you be needing public transportation to reach campus, the grocery store, etc? The Transit Score measures the public transportation access to a specific area.
- Renters Insurance: Do you own valuable objects, such as a musical instrument, technology, precious jewelry, antiques, expensive appliances, etc? Could you afford to replace these items if they were damaged in an apartment fire or stolen by a burglar (or even your roommate)? While renters insurance may not be necessary for everyone, it can be a valuable protection for your personal belongings.
Where do I start?
Ask family and friends for ideas and referrals while remembering the importance of timing. Some fall/winter contracts at larger complexes go on sale up to six months in advance. Spring/summer housing is much less expensive. The resources below can also be helpful.