Apartment Hunting Tips

When it comes to renting a new place to live, there's more to consider than finding an affordable place you like. Of course those aspects are important, but you also need to consider things like renters insurance and your budget as well. Here are five tips to help in your apartment search. 

List your top three 'must-haves': What does your ideal apartment have? Perhaps a sunroom, access to a pool or a waterfront view? List the features you desire most and pick the top three. Use that as a guide for screening apartment choices. Also consider making a simple checklist so that you can compare different apartments with each other on one sheet of paper.  

Be careful of your comparisons: The apartment in a complex that rents for $900 a month but includes a gym, garage and onsite laundry facilities might end up being cheaper than the affordable bare bones basement apartment that is going for $800 but includes no extra amenities. Not only can you get rid of your gym membership, but your car will be better protected and you'll save the hassle of going to a laundromat come wash day.  

Know your budget: Financial gurus give lots of contradicting advice, but one thing they consistently agree upon it keeping your housing expenses under 30 percent of your income. This includes rent and renters insurance. Spending any more than that and you're setting yourself up for slipping into debt to take care of other bills like food, utilities, clothing, vehicle costs and prior debts like student loans.  

Understand the insurance: Your landlord should have a generous insurance policy to cover the property, structure and any furnishings that are provided. You also need a renters insurance policy to protect your belongings within the rental unit. Know what is and isn't covered by the policy, and know that you may need extra coverage to protect your jewelry collection or other valuables.  
 

Get it in writing: It doesn't matter if you're renting from your grandma's friend or your cousin Joe, you need everything in writing or else you're almost guaranteed that a problem will arise later on down the road. Can you paint the walls? Can friends stay over for the weekend? Are pets welcome? All this should be spelled out in a lease contract that both parties sign.  

We’ll help you get the coverage you need. Call Vios Insurance Services at 818.779.4930 for more information on Van Nuys  renters insurance.