If you drive or bike, you can expand the scope of your search. You don’t want to live super far away from campus if you aren’t mobile, though. Spending 2 hours catching multiple trains and buses to get to campus can be a tall order.
A co-signer, or guarantor, is a third party who is on the hook for the rent if you can’t pay. This can be a parent or relative, but you can typically use anyone with a good income and solid credit. [3] X Research source Basically, if you can’t pay your rent, the landlord can require the co-signer to pay for you. If a listing mentions that a unit is “perfect for students” or something like that, it’s a good bet that the landlord will be open to renting to you.
For example, you may say, “Hello, my name is Edward Schultz and I’m interested in your unit on Grover Street. I’m a student, majoring in business, and I’m looking for a quiet place near campus. I’d like to set up a time to see the apartment and fill out an application if you’re open to it. I have a part-time job, but my parents would be helping me out with some of the rent as well. I can always have them cosign if necessary. Please let me know!” Some landlords don’t want to rent to students because they assume they’re not going to take care of the place, or throw parties every week. Some landlords prefer students because they’re not as demanding or difficult to work with. It’s all about finding the right fit for you!
You can typically tell if a property management company owns a building or not by reading the listing. These companies usually put their company name all over the description. Giant apartment complexes are more likely to be owned by a company than smaller buildings. If you’re emailing “lakefrontproperties@gmail. com,” or, “Sean@HousingPeopleNY. org,” it’s a company. If their email is “TastyCakes812” or something, it’s a private owner.
Remember, you can always offer to pay a bigger security deposit as well. This can make a lot of landlords more inclined to accept your application.
For a basic studio or 1-bedroom apartment, expect to spend $500-1,000 a month depending on where you live. If you’re in a major city, this may be a lot higher. If you live in a small city or rural area, it may cost less than this. Remember, nicer units usually cost more, while run-down apartments will cost less. Having a dishwasher, balcony, and in-unit laundry may bump the rent up a couple hundred bucks.
So, if a unit costs $600 a month, the security deposit is $1,200, and you need to pay the first and last month’s rent up front, you’ll need to pay the landlord $2,400 up front to get your keys. Security deposit prices depend on where you live. Some cities allow landlords to collect 3-months’ rent for the deposit, while other regions only require 1 month. Some landlords don’t require a deposit. However, you may need to pay a non-refundable fee to move into a place with no security deposit. [10] X Research source This can be a lot of upfront costs, but remember, you should get the deposit back if you take care of the place. If you pay the last month’s rent ahead of time, you won’t need to pay rent the month before you move out.
Treat this kind of like a job interview. Dress nicely, show up on time, and be friendly. Feel free to ask questions about the unit, too! If you don’t like the place, just tell the landlord it isn’t quite what you’re looking for and move on. You may need to view multiple units to find something you like! If you plan on using a cosigner, bring them with you for this part of the process.
The landlord will require a proof of income for either you or your cosigner. A bank statement or paystub will typically work for this. You will also need a passport or driver’s license, and letters of reference if your landlord requests them. If you don’t have a job, just write “student” under “occupation. ” If you have a part-time job, write something like, “Student/cashier”
Leases typically last 1 year, with an option to renew it at the end of that year. All this means is that you’re on the hook for a full year of rent and you won’t be able to move out before that year is up (unless the landlord lets you break the lease). Some leases are “month to month. ” All this means is that you can move out (or be asked to move) every 30 days. This lease offers more flexibility than a 1-year lease, although you may have to move quickly if you do something particularly irresponsible and upset the landlord. [14] X Research source
The general rule of thumb is that your rent shouldn’t be more than 30% of your monthly income, so sit down with your parents and do the math on what you can afford. If your parents aren’t going to help you pay rent and you can’t cover a decent apartment with your part-time job, you may just have to wait and save up to get your own place.
It’s probably not a good idea to move in with some random adults you meet online. Students and adults with full-time jobs often have different schedules and you may not be on the same page regarding guests, how to set up the apartment, and what the quiet hours in the unit will be. When you have roommates, you can also split the costs of utilities. Even if you spend a little more on electricity with 3 people living in the apartment, the total cost for you will only be 1/3 depending on how you split it up.
Visit an area if you can before you start setting up appointments for showings. If you’re going to drive to school or bike, you don’t really need to pay attention to the public transit options. Just find a safe neighborhood that looks fun to live in!
Keep your student loan payments in mind when you’re trying to figure your budget out. If you can afford an $800 apartment but you have to pay $200 a month for student loans, you may need to look for a place in the $600 range to account for the difference. [22] X Research source
The one exception is if you’re a family member of a student living in family housing. Many colleges have dedicated dorms for adult students with families. If you’re married or related to a full-time student at a school, check to see if the university has family housing.
