Top 3 Tips for First Time Renters
Top 3 Tips for First Time Renters
So, you’re finally ready to rent a space of your own for the first time. And while visions of independence, freedom and setting up your new rental home are at the forefront of your mind, it’s important to be proactive and know exactly what you’re in for. With that in mind, here are the top 3 tips for first time renters Phoenix property management companies want you to know before you make your move.
- Be a budget boss: Whether you’re renting a Phoenix home managed by a Phoenix property manager or an apartment, you’re going to be shelling out some major cash. So you first need to calculate exactly how much you can afford to spend on housing. A simple rule of thumb most property managers use is that you shouldn’t spend more than a third of your after tax salary on rent. So if your household makes $4,500 net a month, then you should ideally stay under $1,500 in rent. But rent isn't the only cost for which you have to budget. You may need to pay an application fee, security deposit, and fees to turn on your utilities. And speaking of turning on utilities…
- Don’t forget to turn on your utilities: This is an essential but an easy step to forget in the hustle and bustle of renting a home. Before you move in, make sure you ask your Phoenix property manager or landlord what utilities you’re responsible for paying and whom to contact to do so. Every Phoenix rental home is different so you may need to set up garbage/water, electric or gas, internet services or get the existing services moved over in your name. Keep in mind some services can’t be turned on over the weekend so allow yourself ample time to get everything set up so as not to end up moving into a home with no electricity and cold water. Setting up your utilities at least a week in advance is a good rule of thumb.
- Get insured. We know, many renters dislike the “I” word. But if you’re going to rent a home in Phoenix, you’re going to want renters insurance unless you have enough money in savings to replace everything you own in case of theft, flood, fire, and other unplanned disasters. Don’t think you need to protect your stuff because you don’t have much? Think again! Between furniture, clothes, electronics and other personal items, it’s in your best interest to get renters insurance. Most Phoenix property management companies require the coverage, which usually runs no more than $12 to $24 a month on average.
Don’t let the most essential steps fall through the cracks before you make your move as a first time renter. Need to know more about what’s required before you rent a Phoenix home? Or are you looking for a Phoenix property manager home for rent in Phoenix? Contact the Simply Property Management- Paielli Realty, Inc. team today. We can help you get prepared to rent or buy the home of your dreams!
Greg Paielli
Simply Property Management – Paielli Realty, Inc.
www.phoenixpropertymgmt.com
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