Apartment Hunting - Be prepared



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Apartment Hunting - Be prepared

If you're on the look out for an apartment right now, you've probably noticed that you're just one amongst hordes of hunters fighting over the newest (and often most luxurious) complexes.

by Graham Hamer

The apartment business is growing increasingly competitive as leasing companies offer bigger and better 'sweeteners' to lure prospective tenants away from their competitors. Finding the right apartment in this kind of "dog-eat-dog" climate, however, requires a little prior knowledge before you begin your search. It really is getting to be a jungle out there.

It used to be that renters began looking for their next apartment just a couple of weeks before their leases were up. Not anymore! More often than not, apartments are snapped up almost as soon as they become available.

In order to have as many alternatives as possible, you should begin apartment hunting at least eight weeks prior to the expiration of your current lease. Owners generally know what their availability will be eight weeks in advance.

Research the apartment community before you visit. Find out if it's worth visiting before you waste the gas money. Check out rental rates and what they include. Some communities don't provide microwaves, for example and, if you don't own a washer and dryer, it's going to make life a whole lot more comfortable to have one in your apartment. Even if you love the location and outlook, lugging your laundry to an on-site facility is going to change your mind pretty quick!

Ask about utilities, too. Many communities pay for water consumption, but many others don't. To help you get a good estimate of anticipated utility costs, ask the community representatives for a ballpark figure of monthly utility expenses. (Then call the utility provider to verify the accuracy of that estimate!)

Before you start your apartment hunt, decide what's negotiable and what's not, then base your eventual decisions on that. For example, if having a security system is top priority with you, don't be swayed by an otherwise great apartment with no security. You'll never have peace of mind without it, so it's worth the extra effort to find another apartment with a system installed.

If your upcoming move is prompted by a rent increase where you live now, take a moment to weigh up the costs of moving. And don't forget to add in the new security deposit, application fees, boxes and packing tape, moving service, and new phone service, among other things. Now ask yourself... does paying an extra few dollars each month seem so awful?

Moving is fraught with emotion and stress, but doing a bit of elementary homework, and starting your apartment hunting early is your best defence against tearing your hair out!

Graham Hamer is co-owner of Hometown-Property.com, where entrepreneurs learn to use the global real estate market, and Property-Seekers.com, your One-Stop-Property Shop for online Real Estate sales and rentals.

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