Renting Advice for College Students and Other First-Time Renters

Renting Advice for College Students and Other First-Time RentersIt is important for first-time renters to have guidance in the renting process. You will need to identify and avoid the costly pitfalls of the rental process. Factors like the terms of the lease, the deposit, the condition of the unit, and potential roommates come with their own hazards.

Connecticut renters insurance is smart for renters to obtain so you are properly protected if an unfortunate circumstance arises.

Affordability 

Take into account all of your expenses such as food, transportation, healthcare, entertainment, and more.

Typical recurring costs include:

  • Rent
  • Utilities (some may be included in rent)
  • Miscellaneous services (Internet, phone, cable, etc.)

Given that rent is the most significant expense the average renter pays, establishing a monthly budget with a comfortable rent is needed. Once you’ve established your monthly rental budget, think about any upfront costs:

  • First and last month’s rent
  • Security deposit
  • Pet deposits
  • Holding fees

Choosing a Roommate

There are many things to consider before choosing a roommate:

  • Reliable income
  • Pets
  • Trusting to be around your personal belongings
  • Willing to sign a lease and abide by the terms of the contract
  • Similar lifestyle choices
  • The splitting of home responsibilities
  • Who will they invite over as guests?

It is important to have a strong sense of how comfortable, respectful, and cooperative potential roommates will be. If you feel someone might clash with your expectations, don’t hesitate to seek out a more compatible roommate.

Rental Time Frames

Rental periods generally break down into four categories:

  • One-year lease
  • Six-month lease
  • Three-month lease
  • Month-to-month lease

Typically, the longer you agree to rent a place, the cheaper your rent will be. Ending your agreement early or abandoning a lease can result in serious financial and legal consequences for you and roommates.

Questions to Ask

Before signing the lease, confirm that your future landlord will hold up their end of the bargain.

Questions to ask when considering a rental:

  • Are any utilities covered by the rent? If not, what is an estimate for those costs?
  • What are the parking options?
  • Is there on-site maintenance or security?
  • What is the refund policy for security deposits?
  • What types of customizations can you make to a property?
  • Will facilities staff conduct inspections, and how much notice do they need to give?
  • Are there guest restrictions?
  • Are there any fees associated with the rental that we haven’t discussed?

During the Walkthrough

Make sure the amenities match what is advertised. Ask questions regarding missing or damaged items. Test light switches, locks, doors, and windows to identify current or potential problems.

 

About Byrnes Agency

At Byrnes Agency, we offer auto insurance solutions that can be tailored to meet your specific needs. Whether you have an old classic car or a brand-new model, we have the right coverage for you. To learn more about our products, contact us today at one of our two locations.

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Dayville Office

Phone: (860) 774-8549

394 Lake Rd

Dayville, CT 06241

United States

info@byrnesagency.com

Hours of Operation: Monday- Friday 9:00am-5:00pm

Norwich Office

Phone: (860) 886-5498

6 Consumers Avenue

Norwich, CT 06360

United States

info@byrnesagency.com

Hours of Operation: Monday- Friday 9:00am-5:00pm

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