If you’re on a tight budget and looking for an affordable apartments for rent, you may be asking yourself how to go about finding the right one. There are several things you can do to help ensure you find an apartment you can afford.
Avoid high-priced neighborhoods and affluent ZIP codes
If you’re looking for a new place to call home, it pays to be smart about the neighborhoods you choose. While DC prices have gone bananas, there are some cool and affordable places to look in your fair city. In fact, Prince George’s County is a prime location to shop for a new place to live, as it has a small but growing population and a high median income. This is one of the few places where the price tag isn’t as painful as the commute. The best part is that it’s a great place to start your search for your dream apartment.
Prioritize what you’re looking for in an apartment
When you are looking for a new apartment, you should make a list of what you want. Your list should include must-haves and must-not-haves. You should also consider your lifestyle. For instance, if you have pets, you might want to look for an apartment that is pet-friendly.
Other amenities you might want to include on your list are an on-site laundry room, an in-unit laundry, and a swimming pool. While these may not be a must-have, they are certainly nice to have. Depending on where you live, some apartment complexes have swimming pools and fitness centers. If you are unable to find an apartment with an on-site laundry, ask the landlord or property manager if they can provide you with other laundry services.
Once you have made a list of your top priorities, it’s time to start the apartment hunting process. You might need to compromise to get what you want. In that case, use a two-yeses-or-no strategy. This will help you to avoid confrontation. Also, try to work with your roommate to come up with a shared list.
Live with roommates
Living with roommates is a good way to get an Affordable apartments in a cheaper neighborhood. Having a roommate is also a good way to split expenses. When you live with someone, you share a bathroom, kitchen and common spaces. However, this can lead to some problems.
Before you move into a new place with your roommates, you should take the time to establish ground rules. For example, how much privacy will each person have? You should also decide how you will handle bills. The more formal the relationship, the less likely you’ll have issues.
If you’re looking to rent an apartment, there are several online sites to help you find the perfect match. A good option is Craigslist. Although it often gets a bad rap, it’s still a worthwhile resource.
Avoid a broker’s fee
Broker fees are a hefty additional cost. They are an extra expense that landlords pay to bring in tenants faster. Luckily, there are ways to avoid paying a broker’s fee.
Before you begin searching for an apartment, you should have a clear picture of the fees associated with leasing a property. These fees can run from 12 to 15% of your annual rent. If you have the option of paying only the first month’s rent, you can save a significant amount of money.
The new Statewide Housing Security & Tenant Protection Act of 2019 has amended rules concerning broker fees. This law is expected to take effect in February 2020.
The Real Estate Board of New York has argued that the new law will hurt the income of brokers. However, a judge temporarily blocked the ban while a lawsuit is in process.