A place of your own
If you want to rent an apartment by yourself or with roommates, here are the steps to success.
To rent an apartment
Set a rent maximum
Know how much you can afford to spend on rent. A general guideline is that housing shouldn’t exceed 32% of your gross salary (the total amount of your paycheck before taxes and other deductions).
Consider how close the location is to your job or school, access to transportation, shopping, and entertainment, and neighborhood safety and livability – while keeping your rent within your budget.
Read apartment ads. Visit the neighborhoods that interest you. Look for For Rent signs. See as many apartments as you can. Make comparisons.
Almost all landlords will do what’s called a credit check to see what your history has been as a money manager and decide if they can trust you to pay your rent on a steady basis.
Read the lease
In almost all cases, the owner or the apartment manager will ask you to sign a written contract called a lease. It’s extremely important to read and understand the lease before you sign.
Want to know how much you can afford to spend on rent? Click the Next button to find out.
See the topic All About Credit to learn a lot more about what credit is and how to establish and maintain good credit.