Living Off-Campus: Beginning Your Apartment Search

Moving into an off-campus apartment requires much more than simply finding a place and making monthly rent payments. Knowing what questions to ask and what to look for is essential when choosing your future home. As such, Savvy Student is here to provide helpful information, as well as suggestions for making your first apartment an inexpensive, hassle-free place to call home.

Aside from square footage, you will need to determine what utilities or amenities are included with rent. Utilities such as electricity, heat and hot water may or may not be covered. If you are required to pay for some or all of the utilities this will increase the actual amount of money you are spending monthly on the apartment. Amenities such as a fitness center or pool are also nice if you use them, but many times rent for an apartment with access to these features is much higher.

Consider the following as it relates to the utilities:

• Will you be paying for gas, oil, or electric heat? Electric heat can be considerably more expensive than gas heat, so be sure to take this into consideration when choosing your apartment.
• How will you be billed for [insert utility] by the company, or by the landlord? This question is essential because if your landlord plans on billing you for utilities, you'll need to know how often to expect the bill so you can budget accordingly.

Location is a huge factor when looking for an apartment. Consider the distance to campus or the grocery store. An apartment which is centrally located may be cheaper and more convenient than renting an apartment further away. If campus is not within walking distance from the apartment, you will need to seek out information about local transportation such as the bus or train. Purchasing a monthly ride pass will ultimately add to the expense of renting an apartment, and if you are unable to walk or use public transportation you may have to drive. Owning a car means paying for gas and insurance, so you will need to decide if having a car is too much of a financial burden.

If you are not able to afford an apartment on your own consider living with roommates. Rent and utility costs will be reduced when you have someone to help share the responsibility. However, roommates can also create additional stress, so be sure to create some ground rules that both you and your roommate are comfortable with.

Here are some ideas to get you started:

• Determine if you will be sharing groceries, or buying them separately.
• Decide if you be splitting the bills equally or dividing the utilities.
  
• Make an official guest policy. Some people are uncomfortable with frequent overnight guests, so it is important to understand your roommate's feelings before you decide on living together. If you know that your best friend or significant other will be staying over often, let your roommate know and encourage them to do the same. Communication is crucial to pleasant roommate relations.
• Divide the responsibilities. One of the most common roommate disputes involve chores. If you tend to be messy or disorganized and your roommate likes organization, you'll have to compromise in order to avoid arguments.

When you sign the lease many times you are required to pay your first month's rent, last month's rent and security deposit all at once. Be sure to find out ahead of time what will be due and have the funds available up front. If you find an apartment through a broker, you may also be charged a "finder's fee" due when you sign your lease. Try to avoid these by dealing directly with the landlord or use only the brokers whose fees are paid by the company or landlord, not you.

Lastly, it is in your best interest to acquire renter's insurance. Many large properties actually require that you carry a policy. If your apartment is ever broken into or if the building you live in has a fire or flood renter's insurance will cover the damages, usually with a small deductible. Renter's insurance can run around $20 per month, so budget accordingly.

Do you have any tips or suggestions to share? Let us know! We'll post your advice in Part II of our apartment living series. Check back next Monday for advice on furnishing and decorating your apartment both frugally and stylishly.

Thanks,

Savvy Student