The Lease of Your Concerns: Things to Consider Before Renting an Apartment

Although "the strength of a nation lies in the homes of its people" is a quote often attributed to Abraham Lincoln, there is no accurate source to show that the late president ever said this. While home ownership is frequently cited as evidence of a strong economy, for many, the process brings unforetold maintenance woes and financial disaster. You might prefer to rent, but if you do, there are a number of concerns to be raised, and issues of which you should be aware.

Look online for reviews about the apartment complex where you are thinking of moving. There are web sites such as www.apartmentratings.com which allow you to research hundreds of apartment communities in major metropolitan areas nationwide. Find out what past and present residents have to say about the place. Keep in mind that different people can have widely different opinions on the same place, but if an apartment complex has 20 reviews listed and they are all negative, that should tell you something.

Ask if you can visit during off hours, when residents are likely to be home. This will not only give you a chance to speak with some of them, but will let you experience what the place is like when mostly everyone is home from work. Does every footstep that the people upstairs take reverberate like that of the T-Rex in the movie Jurassic Park? Do the neighbors across the hall blare their stereo and hold wild parties? Do you have to listen to doors slamming constantly?

Consider carefully the advantages and disadvantages of living on the top floor, the bottom floor, or somewhere in the middle. The top floor might be quieter since there is no one above you, and you are safer from burglars than if you lived on the ground floor. But you may have more trouble getting out in the event of a fire, and the heat will escape faster in the winter because there is no apartment above you. Living on the bottom floor makes moving in and out much easier, is much better if you have to carry groceries, and mitigates the fire risk significantly. Winter, however, may be especially cold on the ground floor. Living between two apartments insulates your unit better, but you are also more susceptible to noise.

Ask about the cost of living in a particular area, particularly the taxes and insurance. When I moved to Philadelphia, for example, my car insurance doubled. In addition, the city's sales tax is 7%, compared to 6% for the state of Pennsylvania. Even the suburbs often have occupancy privilege taxes.

Lastly, make sure that you read the lease carefully. Take home a copy before signing it. As basic as this sounds, most people merely peruse the lease, or do not even bother reading it. If you have questions or specific objections, bring them up. The management should be willing to accommodate reasonable demands. Just because something is written in black and white does not mean that it is written in stone.