Renting a home in the United States has several moving pieces. Because you have most likely gone through the process of moving into a new home while on deployment, you will likely be familiar with a few aspects of the home/apartment renting experience.
However, we want to provide you with a few tips that will hopefully help you make the transition when you decide to move again. Please know that these are general ideas and topics, and every city, state, and management company may have their own distinct processes, and some of these costs or theories may not apply to your specific situation.
SECURITY DEPOSITS
For any rental, you will be asked to put down a security deposit. This is a payment to the management company or landlord to help recoup costs IF a resident breaks a lease or damages their unit. In most cases, when the resident honors the lease and takes good care of their home, the deposit is returned upon moving out. At times a portion of the deposit may be kept by management to fix apartment issues in preparation for new tenants- but generally this is for damage beyond “normal wear and tear”. In general, if you take good care of your home, and honor the lease, the deposit money should be returned to you when moving out!
EXTRA DEPOSITS
One unique request for international applicants like our nurses - as a population with nonexistent U.S. credit - is an extra deposit. Credit is essentially your credibility with and likelihood to make on-time payments for bills and loans. And when you don’t have a history with bill or loan payments, companies will often ask for an additional deposit to protect the interest of management.
APPLICATION FEES
Almost all applications require a fee to process the application. Some complexes require application fees for every person over the age of 18 who lives in the unit, and some only require one fee for the entire family! This is a cost that will NOT be returned to the renter.
OTHER FEES
At times there might be additional fees associated with an application, such as administrative fees, holding fees, processing fees, etc. These are fees that will NOT be returned to the renter and may be required to “reserve,” “hold” or “complete” your application.
MOVE-IN COST SHEET
Near the move-in date, you will receive a form that is often called a “Move-in” or “Cost” sheet. This is a form that tells exactly how much money is due at the time of signing the lease, and what those costs represent. Oftentimes, you’ll access this information through an online application portal.
These sheets often give important information about the move-in process, such as tasks that need to be completed, services that need to be established, and other relevant actions. This sheet is the best resource in preparing for the move-in date!
PRORATED RENT
Most of the time, the cost sheet will include the prorated rent, and possibly prorated utilities as well. This represents how much rent is due for the remaining days of the month, ensuring that nobody is paying a full month’s rent while not living there an entire month.
For example, if rent costs $900 per month, and you were to move in on the 10th, you would owe $600 in pro-rated rent -- the cost of living in that home the remaining 20 days of the month.
UTILITIES
Some apartments include utilities, with tenants paying the apartment complex for those fees, while others require tenants to open an account directly with the utility companies. This varies from complex to complex, and you will receive that detail from your landlord or management company.
The utilities that may or may not have been included with the lease are internet, cable, electricity, water, garbage, gas, and others. As you think about transitioning to a new home, it will be important to identify which utilities are included, and which you will need to establish separately. Some complexes work with specific providers, so make sure to ask management if they have preferred vendors for any of the utilities.
RENTER’S INSURANCE
At times, complexes require renter’s insurance in order to move in. Even if they don’t, it is never a bad idea to look at renter’s insurance as an option.
A rental insurance policy typically covers the repair and/or replacement of your belongs, such as clothing, furniture, and electronics, in the event of damage through an unexpected event, from fire to theft. Renter’s insurance can be found at a very affordable rate and can protect the value of the assets in your house. Many of our nurses use lemonade.com for a basic renter’s insurance policy.
REPAIRS + ISSUES
One of the perks of not owning a home, is not owning its problems! When issues arise in your home, unprovoked by the resident’s actions, let the management company know. They are responsible!
Do not delay in making them aware of issues with your unit, no matter what they might be. As a management company, it is important that they provide great service to you, and the speed and thoroughness of repairs is often a good indicator of good management.
MOVING OUT
When you are ready to move out of your first home and into a new place, make sure you give your complex proper notice. Your lease will indicate how many days of notice you need to provide to the landlord or apartment complex. If you have fulfilled the terms of your lease (the length of time committed to living there), you are generally asked to give notice before moving out.
If you have not reached the end of your lease, it will be very costly to leave before you have fulfilled the length of your lease. Refer to your lease for the potential costs associated with breaking a lease, and the required notice to be given to management when moving out!
FINDING A NEW APARTMENT OR HOME TO RENT
Once you have lived in your city for a little while, you’ll start to learn the area(s) of town that appeal to you or are a good fit for your family. If you decide you would like to live elsewhere, there are a few great resources available to you:
If you’re considering an apartment complex, complete a walkthrough of the apartment, and read online reviews and feedback on the management company and complex before signing a lease.
* These websites also list homes that are for sale, so be sure you’re looking at rentals
As always, feel free to let us know of any questions you have about this process as it arises!