Perhaps you've always enjoyed the perk of living with your folks, but now it's time to get your own apartment. Renting out your first apartment can be daunting − you need to keep the house clean, pay bills and run errands you never knew existed because mom or dad always took care of it. Apart from house maintenance, you'll need to deal with landlords and rental contracts. Here are some insider tips to help you while renting out your first apartment.
Plan A Smart Budget That Incorporates Every Household Expense
Just because you're earning an income doesn't mean that you'll be able to afford every luxury out there, especially with median rents in Australia for one-bedroom apartments costing a whopping $350 to $450 per week. You'll also need to pay a bond that is anywhere between four weeks and six weeks rent. You must also accommodate for expenses like electricity, gas, Internet, television, phones and groceries. An average electricity bill costs $100 per month, while the Internet can cost you up to $90 per month. Paying bills late can also have some extra penalties, so be sure to make on-time payments. To ensure that you are able to budget well, you must accommodate for all these expenses from your income. And if you have something left over, indulge in something for yourself!
Deal with your Landlord Politely
No matter how irritated you are, keep in mind that dealing with your landlord politely is your best alternative in almost every situation. Most landlords will treat you the way you treat them as you respond to their demands and requests. Before moving in, have your landlord give you a list of do's and don'ts. Be sure to get all agreements in writing. For example, if a particular repair job requires landlord interference, it's always best to clear this doubt before you sign any binding contracts. You don't want to end up fixing a leaking bathroom on your own when it may be your landlord's responsibility. Clear this up for a more friendly landlord-tenant relationship over your tenancy period.
Be Thorough With Your Inspections
Don't take the landlord's word for everything in the house. Many homeowners embellish real estate details with the hope of securing higher rent. Before you sign the lease, inspect the apartment thoroughly. Are there any faults that need repair? If so, notify the landlord to have them repaired. You can even offer to repair it yourself for a little cut in the rent. By moving into a home that has been thoroughly inspected, you're eliminating any potential catastrophes that could arise because of poor maintenance.
But most importantly, treat this real estate property like your own home. After all, you'll be spending a lot of time here. For more tips on finding your new home, work with an experienced real estate company like 4 One 4 Real Estate.