Renting an Apartment

Advantages of Renting Instead of Buying a Place

to Live• Mobility• Minimal

Responsibilities• Financial Freedom

– spend less on housing than homeowners do

Disadvantages of Renting

• Do not gain equity• Cannot remodel

and decorate as you please

• Must follow rules set by other people (landlord)

• Not really yours (no ownership)

Selecting an Apartment

• Defining Housing Needs

• Locating Suitable Units

• Conducting and Inspection

• Evaluating Lease Terms

Defining Housing Needs

• Location- close to campus or work??

• Space/Size – 1 bedroom, 2 bedroom, studio

• Furnishings

Locating Suitable Units

• Newspaper and internet – classified ads

• Ask friends• Rental Agencies • Look for signs

posted

Conducting an Inspection

• Safety (lights)• Security• Fire Exit• Neighbors – age &

attitude• Parking• Cleanliness• Painted Walls?

Conducting an Inspection

• Plumbing• Appliances• Door Locks –

changed?• Windows • Drapes• Storage• Furnishings• Privacy?

Evaluating Lease Terms

• Parking Included• Laundry on premises• Rent/due date• Length of lease• Security deposit• Utilities• Ending lease/subletting• Repairs & maintenance• Landlord’s right to

enter• Restrictions

(pets,parties)

When a conflict arises… and it probably will!

Rules for good discussion: • Focus on the behavior- not your roommate. • "Own" your feelings. Remember- no one can make you feel

something- you choose to feel that way. • Try and listen to your roommate's perspective. Let him/her

speak without interruption. • Make sure you understand what is being said. Never assume

anything. • Remember that this is not a win lose situation. The goal is to

find some kind of compromise with which you can all live. • Try to remain calm!