Sometimes it simply isn’t feasible or practical to buy a home or condo. That leaves renting. Because almost every rentable space has a contract attached, finding the right space is nearly as complex as is buying a home. How do you go about this process so that you find the right apartment that also suits your budget and lifestyle?

One answer is to read consumer reviews. Use discernment. Some of these reviews are written by tenants with an axe to grind. The complex might actually be wonderful, but there are some folks who just like to complain. Other reviews may be written by paid professionals who have never even SEEN the place. Obviously, those aren’t overly dependable. That leaves you with trying to talk to current tenants or neighbors, which is really the best option. It will give you a feel for the people who you may soon be living near as well as a current assessment of the property from an “insider” view. 

Fair Housing

The fair housing act went into place to protect prospective renters from discrimination. The long and short of fair housing is that it’s illegal to refuse to deny dwelling, or set different terms on rental based on a person’s religion, race, color, gender, marital status or handicap. This law applies to advertising too. Any statements that imply that a space only accepts certain type of renters are, for the most part, against the law (there are a few exemptions, but they’re pretty specific).  For individuals with disabilities the protection extends even further. For example, if you need a wheelchair ramp put in, you are legally allowed to do so at your expense. Likewise if you need a guide dog, buildings with no pet policies must allow that animal on the premises with you.

If you’d like more information on fair housing, go to HUD’s website.

Pushing through the Process

When you’re ready to apply for a rental, there are things you can do to make this process go faster. For example, bring letters from previous landlords attesting to their experiences with you. Likewise, bring a recent credit report. That saves the landlord a lot of time and illustrates upfront that you’re able to afford the space. Hint: read over your credit report carefully. If you find mistakes, get them cleaned up before applying.

If your application goes through, step two is the lease. You may want to ask if the landlord offers short term leases. That way if you find out the space isn’t what you hoped, you can move after three months. Otherwise normally you’re locked in for a year.

Review your lease with the same diligence you would any other legally binding document. Be aware that some rentals forbid you to make any changes in the space, or run a business in the space. Additionally your lease should detail what situations allow your landlord to enter the space (and how much notice they must provide). Privacy counts.

This is the time to get everything in writing. For example, if you speak with the landlord about necessary repairs, get documentation that the landlord has agreed to those repairs. This avoids a lot of misunderstanding. Oral agreements only go so far. Then if everything looks amenable, sign on that dotted line.

Insurance and Security Deposits

Before you move it’s a good idea to get a renter’s insurance policy. Your landlord insures the property, not your personal possessions. Should anything go wrong, renter’s insurance and help you replace stolen or damaged items. The cost is very reasonable for the peace of mind provided.

Speaking of which, on the day you receive your keys there are things you can do to safeguard your security deposit. I recommend taking pictures or a video of the entire space, making particular note of anything that needs touching up or repair. This way the landlord cannot claim you caused those problems when you move out. Note that these pictures can be very useful for your renter’s insurance too; they prove what you have in the building.