As a startup entrepreneur, you understand that starting a project can be costly, especially when you are on the market for an apartment within your budget at the same time. On top of that, rent is rapidly rising with the median asking rent rising from $706 in Q3 of 2012 to $1,003 in Q3 of 2018. The tips below will help you snag your dream apartment where startup entrepreneurs live and avoid nightmare scenarios.
Identify Important Apartment Features
Before diving into apartment hunting headfirst, create a list of things you want, including the number of bedrooms, amenities, square footage, and type of neighborhoods. Consider prioritizing and organizing your list into must-haves, nice features that you can do without, and dream apartment features. The list will help you identify what you can compromise.
Depending on the city you are working in, consider those neighborhoods that are not popular or far from the trendier locations. Doing this may actually help you get more square footage at a price that’s right for your budget. Use online resources to explore diverse communities as well as find out the amenities close by; for instance apartments in Mountain View.
Look for Affordability
You may have landed your first big client, but the last thing you want is working just to earn enough to cover your rent. When searching for an apartment, remember to factor in extra living expenses into your budget, including monthly payments of utilities, parking, and storage. In addition, don’t forget to include other payments like pet fees, building fees, and internet and or cable.
Get Apartment Approval while Self-Employed
Your new landlord will need to have a complete picture of your health financially as you apply. So you are not surprised when the landlord runs your credit, make sure you get one of the free credit reports you are entitled to annually. Check your credit report through all the major credit bureaus like Experian, TransUnion, and Equifax.
While bargaining with the landlord, bring up other features that are likely to make you the ideal tenant such as the fact you don’t have a car so you do not require parking. Plus, if you have someone you can trust, have him or her co-sign so they are fiscally responsible in case you don’t make a rent payment.
Be Prepared Early
Your dream apartment might be someone else’s utopia, and the rental market is especially competitive for young entrepreneurs – and you have to act fast! If you are seriously considering living in Ewa Beach, HI, for example, make sure you have everything on hand so you can lock down fast. Have your photo identification, Social Security number for the credit check, recent bank statements or tax returns, your checkbook for the application fees, and security deposit and contact information for references on hand.
Timing is Everything
Start searching for your dream apartment as soon as you know when you would like to move in. While most move-in dates fall at the beginning of the month, some landlords may be willing to settle for a mid-month date. The busiest season for rental moves is the period between June and August.
Remember that moving in a few days before the start date of your lease may incur costs. Speak with your landlord before booking a moving truck. Furthermore, most moving firms are busiest at the beginning of the month, so make reservations as soon as possible.
Knowing how to find the best apartments where startup entrepreneurs can live will help you make the best possible decision. You will likely collect plenty of memories along the way, but these tips will help you identify the perfect apartment in no time.