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How much should you be paying for rent?

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It’s hard to set a standard price for rent based on just the property alone, so it’s up to you to determine how much you should be paying. You need to look at your personal finances, the property’s location and benefits, and similar properties.

As far as personal finances, you need to figure out how much you can pay without setting yourself back or living uncomfortably. For the most part, rent is typically 30% of a person’s income, but that doesn’t mean it can’t be less or more. Look at your income and consider what 30% of it would be, and if you’d be okay with paying that much. You don’t want to compromise a ton of your income to live in a place you can’t really afford, so make a wise decision.

The property’s location is also very important as location is a defining factor in determining property value. If the property is in a more expensive area of town, you’re going to be expected to spend a lot on rent. Same goes for properties in less expensive areas, they’re going to be cheap. If you’ve found a property and aren’t too sure if the price is right, look at the area and consider whether or not it’s an expensive area.

Looking at the location also helps because it helps you narrow down how much people are paying for rent in similar properties. Before finalizing how much you’re going to be paying for rent, do some research on the rental cost in properties similar to the one that you’re interested in. Be it area, number of rooms, etc., you’re bound to find properties that share some similarities with yours.

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Personalizing your space

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Recently, we talked about different things that a rental home has to offer that you can and can’t change (read it here), so we figured we’d bring you some tips that’ll help you customize your space and make it all your own.

Wall decor!!!! This includes sooooo many different things, so you’ll truly find something that’ll suit your personality. Pictures are cool because they allow you to get really personal and showcase the things that have real significance to you (like people and places). A cool way to arrange pictures is to use all kinds of different frames; it’ll add some flare to the room and isn’t expensive to do if you hit up your local thrift shops. Posters are also awesome! There are all kinds of posters available for all kinds of interests, so you’ll definitely find something you like. Plus, posters take up a pretty large space! Speaking of space…tapestries also take up toooons of space! They look great and can completely transform an entire room, all whilst taking up an entire wall. plants

Plants!!! Plants, real or fake, definitely add life to any room. You can have flowers, ferns, etc., the choice is yours. And, plants refresh and purify your air so they’ll have a benefit beyond just looking nice. If you have a certain theme or color scheme going on in your home, you can find plants that match this and make your home feel like it’s truly yours. Also, just like with picture frames, you can create a unique arrangement by combining a bunch of different pots for your plants.

Lighting is huge! Choose cool floor lamps that reflect your own style and can serve as conversation pieces, too. Lighting can change the entire mood of a room, so be sure to choose wisely! An easy way and inexpensive way to create some nice lighting is by adding christmas lights to a room; they can be put anywhere, and everyone can agree that they add a pretty touch.

 

Your Perfect Space – finding the right area for you

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If you’re in the process of looking for a new place to live, a big thing you need to look at is what kind of home and community you want. Do you want an apartment in a tall building? Or a house in a gated community? Do you want to live in the city? Or the suburbs? So many questions!

Before you start browsing possible rentals, narrow down what kind of area you want to live in. Base your decision on your job, lifestyle, family, etc. Look at all of the different factors that will be affected by your place of living, and then figure out what kind of area is good for you. Once you’ve decided what kind of area you want to live in, it’s much easier to figure out what type of home you want to live in.

If you’ve chosen to live in a more urban area, you’ll have quite a few apartments and condos to choose from, but maybe not so many houses. In a suburban area you’ll have all kinds of houses and communities to choose from, as well as townhouses and apartment buildings (typically not as big as those in an urban community). Different kinds of places offer different kinds of benefits for you, so this should also be factored in.

In an apartment, you won’t need to worry about landscaping issues and things like that, but you’ll probably have to compromise on the amount of space you’ll get. In a house in a suburban neighborhood, you may pay more for rent (depends on the market) but you’ll have lots of space. In a gated community, you’ll have security, but you’ll also have to abide by strict community rules; you may not be allowed to park more than two cars in your front yard, rules along those lines. These are all pretty general things, but the specific building, neighborhood, and community rules will vary.

Before making the decision about where you’re going to live make sure the area is right for you, and the space is perfect for you.

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Permission to change?

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In any home there’s always the desire to add your own personal touch; with rental homes, however, this can get a bit tricky.

Since the home you’re living in technically isn’t yours, you’re not entirely entitled to change it up however you please. Sure, you can move things around and decorate in your personal way, but before you start painting and knocking down walls, run it by your landlord first.

Usually with simple things like paint colors your landlord will let you have the freedom to paint over the colors the home came with, as long as you commit to getting them back to their original color once you move out. Now, it gets a bit trickier withrental home things like floors (and floor plans, too). If you want to change from carpet to wood floors, or anything in that realm, you definitely need to ask your landlord if it’s okay with them. Typically if it’s something that’ll increase the value of the home, or just make it look better, they’ll be okay with it. Wanting to make big changes, like remodeling, aren’t really in your best interest. Yeah, it’d be great to have a huge closet, but is it worth the cost and hassle on a home that isn’t even yours?! Don’t think so. Unless it’s something that is absolutely necessary, and you know you’ll be living in the home for a looooong time, your landlord probably won’t sign off on it either. Plus, all of these changes aren’t free; these will require a big financial investment on your end.

If you want to add your own personal touch, focus on the decor of the room and creating the right ambiance. Super easy and you don’t need anyone’s approval but your own.

The tenant.rentals eBook is here!

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tenant.rentals eBook - What ALL Tenants REALLY Need to KNOW We are in the age of the eBook! Keeping up with this, tenant.rentals has put together  the ultimate tenant resource: What All Tenants REALLY need to KNOW

The new tenant.rentals eBook is a great resource for tenants everywhere. We put  together the information that is relevant to you, so that all of the questions you’ve  had can be answered. The great thing about this is that it’s in PDF format, so you can  easily save and load it into your eBook library. From topics like signing your lease to  dealing with loud neighbors, this book has it all. We know how frustrating it is to not  have the answers to these tough questions, so we figured we’ve give you a solution-  on the go.

Now, you’re probably wondering, “how do I get this awesome book?!”…it’s simple!  Just click the link above, enter your email address and wait for the confirmation  email, then voila- the ultimate tenant resource is now yours! Best part of it all? It’s  free! We want tenants everywhere to have access to our eBook and make it their  primary resource for tenant related questions and issues.

What are you waiting for?! Get your copy today!

Moving On Out

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Your lease is ending, you’ve already found your new home…what’s next?! MOVING! 

The process of moving is very exciting, (you’re gonna live in a new place!) but also requires a lot of work and proper planning to make it easy on you. Here at tenant.rentals we’ve put together some tips to make your move as smooth as possible.moving

LABEL EVERYTHING! We cannot stress enough the importance of labeling every single box, bag, or container that you plan on moving. If your stuff isn’t labeled, how will you know where it goes? Labels should ask be as specific as possible, so that you can put things exactly where they need to be. For example, if you label a box ‘bedroom’ how will you know which bedroom it belongs in? You’ll end up having to sift through the boxes to figure out what goes where. You also need to be clear on which boxes have fragile items and which don’t, skipping this step may cost you a lot.

  • Don’t take every single box at once. Yes, making multiple trips does seem like it’ll be a pain, but it will make the process easier on you. If you take all your stuff at once, you’re gonna end up with stacks of boxes everywhere and very little room to move. Try taking things by sections, maybe you can do a few rooms of the house at a time so that all boxes are situated in their respective areas. This way you’re also clearing up space to keep moving in more things.
  • Use what you already have at home before spending tons on packing supplies. Things like shoes and clothes don’t need to go in fancy boxes from Home Depot, you can use trash bags for items like these. You can separate shoes depending on style and put them into different bags to avoid messing them up. For clothes it’s also really simple; keep all of your stuff on hangers,  make a hole in the bottom of a big trash bag, and put the hangers through…you’ve just made your very own garment bag! Use suitcases to pack books or items that require folding as well.
  • If you do end up needing some extra boxes, don’t buy them! Hit up your local grocery store or stores like Walmart and Target in the early mornings. Usually, these kinds of stores have tons of boxes laying around from the days shipments, and they’re pretty much up for grabs for anyone!
  • Teamwork makes the dream work! Enlist in the help of friends and family to make your move as smooth and quick as possible. Maybe while you’re moving boxes from point A to point B someone else can be unpacking your stuff in your new home. Whatever way you decide to do, having more people on board will definitely make the process go a lot smoother.

Good luck moving!

Out of the Box: Using the right storage to maximize your rental space

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As someone who’s renting their home, you’re not exactly allowed to knock down some walls and make a new closet or alter your current storage situation. With that being said, you need to find other ways to maximize your space and storage.

Though no one admits it, a lot of us like to take the lazy way out and just accumulate storage bins in our garages or under our beds…bad solution!!! Storage bins do not have an aesthetic appeal, and ultimately take up a ton of space. It’s important to maximize functional spaces, like our closets, and even furniture. If organized correctly, closet space can go a veryyyyy long way, even for the smallest spots. If you have a pretty standard closet, you can get closet organizers/systems pretty much fully-equipped (check out The Container Store). If you have a smaller space, or want to customize it more than standard closet organizers, you can instill your own shelves and hanger units based on your precise storage needs.storage

As far as functional furniture, we all know Ikea is the bees knees. Have you ever seen Swedish storage!?! IT DOESN’T EXIST! That’s where Ikea comes in! Ikea makes furniture as functional as possible to take advantage of space, especially useful when your storage is very limited. You can switch our your storage bins for a sleek bed that has big built-in drawers. Even small things, like a coffee table that doubles as media storage, can make all the difference in your space.

Basically, if you organize and plan correctly, you can make a small space into the storage space of your dreams.

Should you have renter’s insurance?

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In the realm of insurance, the renter’s variety is typically overlooked. Renter’s insurance provides you with liability protection while also covering your personal items that may have a risk of being damaged or stolen for various reasons. Some landlords and property management companies require renter’s insurance, while others leave it up to your discretion. However, if you’re not required to get renter’s insurance, you should definitely look into it. If you’re renting a property, it’s not your job to insure the property structure, it’s the homeowners.  Even though you’re not responsible for the structure, you are responsible for all of your belongings inside

So,  you’re probably asking yourself if renter’s insurance is actually worth it. Well, imagine that the home you’re renting is broken into, and your expensive television is stolen, if you don’t have renter’s insurance, you’re at a loss…but if you do, it’ll cover it! Renter’s insurance covers things like theft, vandalism, fire, etc. It’s not your landlords responsibility to reimburse you if something happens to your belongings; by law they’re not the liable party, you are.

insurance Of course, the topic of financials is also highly important to consider. Much like car insurance, you can receive a discount on renter’s insurance if you pay it all in a lump sum for the entire year. The biggest financial plus about renter’s insurance is that it’ll cover your belongings if something happens to them. You won’t need to dish out a ton of money to replace whatever was damaged or stolen.

Consider your possessions, and possible liabilities, and think about whether or not renter’s insurance is for you.

To get a pet, or not to get a pet? That is the question

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We all know that having a pet can be a lot of fun, but it can also be costly. Pets are a huge responsibility in a lot of different ways; you need to make sure they’re fed, bathed, have a place to sleep, the list goes on. If you’re considering getting a pet, there are a few things you should think about before making the big decision.

First of all, are you financially capable of taking on the responsibility? You need to figure out all the costs that you’re going to incur and see where you stand with your personal finances. Aside from your normal financial obligations, you’re going to have to make sure that you can take on vet bills, buying food, and the basic cost of owning a pet (grooming, toys, etc.). A big financial matter that you also need to consider is your rent; is your landlord going to charge more because you now have a dog or cat? Landlords are fully entitled to ask for a pet deposit or increase your rent if you decide to get a pet, because the liability increases on the rental.

Aside from the financial investment, you’re going to have to be willing to invest your time, too. Normally, people keep their pets for a long time, so that’ll be something you need to be sure you can do. If you plan on moving in the near future, it may not be the best time for you to get a pet because you don’t know where you’ll be living next and if pets are even allowed.

These are just a few basic things to consider, be sure to look at your specific lifestyle and see if you’re truly ready to have a pet before you end up doing something you can’t handle.

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Roommates – Finding the perfect match for you

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We’ve all seen the movies and read the stories about the roommate from hell…but this shouldn’t scare you out of having roommates! Having roommates not only lowers your rent, but also helps you lessen your chores, plus, it can end up being a fun experience!

Now that you know why you should have a roommate, the next step is finding the perfect roommate. This may not be the easiest task, because you want to make sure you’re making the right decision about who to live with, but it’s also not the most difficult. The main thing you should you look for is someone who has the same kind of lifestyle as you. For instance, if you’re someone who works a lot and you go to bed early to wake up early, you’re not going to want a roommate who is constantly looking to party and have people over. If you’re a grad student, you’re going to have a lot of studying and work to do and you’re not going to want to live with an undergrad who isn’t on the same page as you. This is why you have to be very clear on what kind of lifestyle you have and what kind of hours you keep.

Rooming with friends is also a great thing to consider, though you should think deep before making the decision. Personally, I’ve had amazing experiences living with friends and cannot imagine having other roommates. However, I know people who’ve lived with their friends and it ended up tearing them apart. Only room with the friends who you know you can spend a lot of time around, and who you’re comfortable confronting if there are any issues.

roommates

America’s favorite roommate duo.