First Time Renter Tips

CPI loves helping first time renters find their new home! Here are some considerations when you are looking for your first rental:

Budget 

One of the largest considerations for first time renters is the budget.  Rent is just one of the expenses of moving into your own place. Most rentals don’t include the cost of electricity or internet. Depending on where you rent, you may also be responsible for water, sewer and garbage, or other utilities. These amounts can vary greatly depending on the size and location of your rental.    When comparing different properties, be sure to factor in these additional costs.  You may also need to buy furniture and other household goods for your new home. 

House or Apartment?

Both have advantages and disadvantages. Houses are typically the more expensive option, especially once you include utilities. House are usually larger and give you a little more freedom and privacy.  Most houses will require that you maintain your own yard, so be sure that you are ready to mow a lawn and maintain flower beds or bushes.  Apartments are usually less expensive, but with some trade-offs. Apartments tend to be smaller, and shared living spaces require extra consideration of noise and privacy. 

Pets? 

We love our furry friends at CPI! If you have a pet already, or know that you want one in the future, be sure to look for pet friendly rentals. Some properties may allow only cats, only dogs, or only pets of a certain size and breed. While a pet is priceless companionship, pet deposits, vet visits and all the extras can really add up. Be sure that a pet is in your budget before you commit. 

Roommates

Splitting rent and utilities with a roommate can help make getting your first home much more affordable. It also comes with a lot of compromises and sacrifices. You and your roommate will both be legally responsible for the rent and any damages to the unit, so be sure that your roommate is someone that you can depend on. A roommate also needs to be someone who you can live with. Make sure that you discuss your expectations for things like cleaning, cooking and how you will divide household bills before you move in together.

Parking

Most rentals include some sort of arrangement for parking. Be sure to ask about the parking situation at each rental you consider, and make sure it will meet your needs, especially if you have more than one vehicle.  Is there a garage, carport, driveway or street parking? Is the parking nearby and well lit?  Are spots reserved, or first come-first served? Where will visitors to your home park? 

Neighborhood

It is a good idea to visit the neighborhood you are considering at different times of the day and night. Are you hoping for a quiet residential feel, or maybe easy access to restaurants and bars? Are sidewalks, bike lanes, public transit, schools or other neighborhood amenities important to you? What is the crime rate like in the neighborhood?  Is there cell phone service?  Starting your search with an idea of what is important to you can help you save time and energy in finding the right fit. 

Renters Insurance

CPI recommends that all tenants have renter’s insurance. Renter’s insurance protects your furniture, electronics and other items from damage due to fire, smoke, theft and water damage. While the landlord’s policy covers the actual structure, it won’t pay for items that belong to the renter. The average cost of renter’s insurance in Washington state is less than $15/month. This is a small price to pay for the peace of mind that renter’s insurance can provide. 

Still have questions?  Call us 360-636-2897, we are here to help you.