Insurance Lifestyle

Never Rented An Apartment Before? Tips To Get Renters Insurance!

Buying An Apartment

February 12th, 2019   |   Updated on June 28th, 2022

If you’ve never rented an apartment before, you need to know that you’re in for a long and mostly painful process, but with a few useful tips, you can make it less painful. In fact, if you have a positive attitude, renting an apartment can be really exciting. You just need to know exactly what to do to avoid any unwanted issues.

No matter what made you rent an apartment, there’s no need to make it harder, more expensive and time-consuming than it has to be. With all this in mind, here are some things that you should definitely take into your consideration to absolutely make sure that you find the best option in a cost-effective manner.

Also, there’s a matter of your personal security and safety of your property and belongings. Here are a couple of excellent tips that you should keep in mind.


1. Create A Realistic Budget

Buying An Apartment

Renting an apartment isn’t only about paying the rent. Unexpected costs, paying the rent, security deposit, application fees… Expect the unexpected and prepare for the worst. Before you even move in, you’ll be spending much more than you planned on spending so the best thing to do is to plan everything up-front so that you always come prepared.

It’s crucial to create a realistic budget so that you avoid getting over your head here. Moving isn’t easy and you don’t want any unnecessary problems and issues on top of everything. Renting an apartment calls for long-term costs.

That means, aside from your rent, there are internet, electricity, gas, heat, food, clothes and other utilities as well as any possible restoration and renovation bills. Also, living requires some costs so there’s that too. Then, there’s renters insurance that most landlords will require. So, before you go and rent an apartment, think about all these expenses.


2. Get Renters Insurance

You won’t rent an apartment without renters insurance. It’s extremely cheap and it’s the best safety net for your stuff and your personal well-being. Accidents and perils such as burst pipes, vandalism, fire, theft and other types of damage and loss do tend to happen.

Then, there are legal and medical fees due to these perils as well as temporary living expenses. It’s always better to keep your stuff safe and secured in any case. Renters insurance covers the three most important areas:

  • Personal property
  • Temporary living expenses
  • Medical and personal liability bills

The more you know about renters insurance the better, so find more about home and apartment renters insurance before you rent an apartment.


3. Talk To Each Landlord


Once you’ve created your budget and insured yourself, it’s time to schedule an appointment with the property owner. If there’s more than one landlord, make sure you visit all of them.

You need to find out everything you can about the property, the building, the maintenance, the conditions and renting terms and so on before you move in. Talking to your landlord also includes taking a tour to see your future apartment.

Find out how popular your new neighborhood is and prepare a list of the most important questions to ask your landlord. Ask about how long has the unit been empty and the duration of the stay of the last tenant as well as how old your new apartment and the building are.

The more you know about these things, the less you’ll need to pay in the future for any renovations and changes. The complete list of all the right questions can be found here.


4. Talk To The Current Tenants

While most landlords will give you honest and straight answers, talking to all the current tenants is the best way to read between the lines. Also, it might be very useful to locate any former tenants and ask about their experiences. Again, this is for your own safety as you will want to avoid old buildings with old wirings and malfunctioned appliances or moving in only to find out you’re in for some major repairing time.

Asking others in the building for their opinions is the best way to find out not only about the building but the neighborhood as well. You will spend some time living here so let’s make it as comfortable as it can be.

Most importantly, the tenants will tell you everything about your future landlord as this relationship might determine the duration of your stay as well as the rent. Finding a decent landlord is imperative and you can find out more about it if you go here to read more.


5. Move In


Now that you’re absolutely sure that your landlord, the building, the apartment, the tenants and neighborhood are all fine, you’re free to move in. That means that you will sign some kind of contract before you move in. Well, make sure that you read your contract thoroughly and completely and ask if you find anything unclear.

Know your rights, take your time with the reading, don’t miss anything and don’t agree on anything that might violate your rights or endanger your property and well-being. Unfortunately, there are landlords who will try to intentionally damage the property in order to take money from the tenants.

Knowing exactly what you agreed on paying here makes a huge difference. Consider even showing the contract to professionals just to be sure. If everything is in order, move in and make the best of your time there.