You have found your perfect first apartment. You are ready to sign the papers and move in. It’s an exciting time for you. It’s important to know that what you are entering into is a contract so remember these 5 mistakes to avoid when renting your first apartment.
Mistake #1. Leases are Not Binding
By signing a lease, you have legally agreed to the terms and conditions of said lease. Ignoring these conditions can put you into hot water and out of a place to live. A lease is a binding agreement. Your property owner agrees to abide by it and you must do the same.
Mistake #2. Security Deposit – It’s No Biggie
Companies ask their residents to pay a security deposit. Don’t forget that if you leave the apartment messy or damaged, the costs to fix and clean will often exceed the security deposit and leave you with another bill to pay. In the case of Red Oak Apartment Homes we do not require a security deposit. We do however, require a non-refundable Safeguard Bond that starts at $499 as a move-in requirement. Read more here.
Mistake #3. Noise Happens – No One Will Care
Sometimes noise does happen and I never ask residents to tip toe or whisper. On the other hand, an apartment is not a place to open a private night club. Don’t let noise complaints pile up against you. They can lead to termination of your lease. Always be considerate of your neighbors. When you have a problem with a neighbor try talking with them about it. If that does not help call the management office for their assistance during business hours.
Mistake #4. Walking Away From A Lease is Easy
Your actions will determine your future. Skipping out on a lease can ruin your credit- or your co-signer’s credit. It may also prevent you from obtaining another apartment in the future. Always speak with your property management company if you encounter a situation where you must move before your lease is up. Some companies, like Red Oak Apartment Homes, have a lease buy-out program to help you out. The best is have planned well in advance of needing to move. You might even consider a short term or month to month lease option if you are not sure of your future apartment needs.
Mistake #5. Rent Due Dates are Flexible
When thinking about mistakes to avoid When renting Your first apartment it’s important to remember that first and foremost the due date is in your contract. A good payment history can help build credit and be the start to applying for a car loan or other long term payment commitments. On the other hand, being a chronic late-payer will only lead to heavy late fees and court costs that add up and damage your credit score. Your first apartment is an exciting new beginning for you. Taking steps to avoid these mistakes will help build your credit, ensure future rental success and be a start to the independent life you desire.
Looking for an apartment in the Greater Manchester area? Let Red Oak Apartment Homes help. We have locations throughout southern New Hampshire and styles and price points to fit everyone and every lifestyle.