Moving away from home is a huge step in anyone’s life, but especially for teenagers. It can either be an incredibly exciting experience, or an experience born out of necessity, but regardless of your plans, there’s an enormous amount of freedom that comes with renting your first place on your own. It can also be daunting as you try to navigate the world of rental properties. To help make the process easier, here are six tips for teenagers looking to rent their first home.
Do Your Homework
Before you start looking at potential rentals, it’s important to do some research first. Figure out what type of place you want and what amenities are important to you. Knowing this will help narrow down your search and save a lot of wasted time viewing unsuitable places. Also, familiarize yourself with rental laws in your area so you know your rights as a tenant.
There will be many property management companies that are unwilling to rent to people with no rental history and credit history, so you may have to talk more closely one-on-one with property management companies. It may also require that you find property management companies that are more likely to connect with younger folks, that are looking to rent out single rooms to individuals, etc.
Get a Roommate
While everyone dreams of living alone, renting alone can be expensive, so renting a multi-bedroom household might be more feasible than living on your own, especially if you live in a larger city.
Not only will splitting the cost of rent make it more affordable, but having someone else around can make it less intimidating when living on your own for the first time. Just make sure that all roommates sign onto the lease agreement with you—this way everyone is equally responsible for keeping up with rent payments and other obligations outlined in the lease agreement.
Not only can you split costs, you can also split chores, furniture, and learn how to live with others in a really healthy and responsible way.
Find Out What’s Included In Your Rental Agreement
When viewing potential rentals, pay attention to what’s included in your rent payment (and what isn’t). For example, does the rent include utilities such as water or electricity? Are there any fees associated with using certain amenities? Does your rental agreement include a pet deposit or first/last month’s rent?
Asking these questions upfront can help avoid any surprises later on when it comes to paying bills each month.
Talk About Credit Scores
If this is your first time renting, chances are you don’t have much credit history yet—but that doesn’t mean you won’t get approved! Talk openly about credit scores and financial history during negotiations so that both parties understand the situation and come up with an arrangement that works best for both sides.
Get Renters Insurance
Renters insurance is one of those things many people forget about until something bad happens—don’t be one of those people! This type of insurance provides coverage for personal possessions in case they get stolen or damaged due to fire or natural disaster (among other things). So don’t skip out on renters insurance—it could end up saving you thousands of dollars down the line!
Ask Questions
Don’t be afraid to ask questions during negotiations and throughout the rental process—that’s why landlords exist! They should be able to answer any questions or concerns that come up before signing off on an agreement and moving into a new home.
Moving away from home is an exciting prospect, but can also be daunting, especially if you’re doing it for the first time.
With these six tips, teenagers looking to rent their first home should feel more confident navigating through this new experience without feeling overwhelmed by it all. From doing research ahead of time to getting renters insurance, these tips should help ensure everything goes smoothly when finding the perfect first-time rental property. Best wishes!