The transition from lower classman to upperclassman, for most college students, means moving out of dorms or Greek life and into a house off-campus with a group of friends. This is the first time that most students lease a house, and without the experience means a lack of knowledge towards the subject. Questions arise such as: What can I expect to pay for the first month, how does sub-letting work, when I sign a contract what am I agreeing to, are there refundable and non-refundable deposits and is the rental period month to month or a 6 to 12 month period? Look no further than this guide on the how-tos of renting your first house, unless you have a property manager for an uncle that I don’t know about.
Finding the perfect place. Or, ‘Finding the perfect place that will fit your budget.’
The first priority in finding a house is to know your budget, and then to search. This means checking newspaper classifieds daily, bulletin boards around campus, telephone poles plastered with ads for jobs, concerts and possibly your future home, and flipping through house hunter publications. Talk to students older than you to see if they can pass on their house after graduation. Once you know whom you are living with, you will know what size of house to look for, with a certain idea of bedrooms, bathrooms, etc.
Making the phone call.
Once you’ve found a house that you and your future housemates like, call the landlord to get more details on the price, rental period, deposits and other information that he or she will inform you of. The first payment is usually the largest one because most landlords require the first and last month’s rent as well as a cleaning or security deposit. Ask if the deposit is refundable. It would be unfortunate to not get that $300 back if you are expecting it at the end of the lease.
Checking out the house.
Next step is to schedule a walk through. As you tour the house look for any damage and ask questions. You and your housemates don’t want to be held liable for a hole in the wall that you didn’t make, or a stain on the floor that has house party written all over it. The landlord may have you fill out a sheet, documenting the damages that exist prior to moving into the house. Ask about any interior changes that can be made to the house, regarding putting nails in the walls, adding shelving, painting, etc.
Ask about the neighbors and their tolerance. If they are elderly they may not be thrilled about high noise levels. Make sure the house feels safe. If a bedroom window is at ground level on a main road, check for functioning locks on the window as well as other doors and windows around the house. This will also be a time for the landlord to address any special rules about the house, such as no high heels on the hard wood floors or no indoor furniture allowed on the porch.
Finalizing the details and signing the lease.
Most homeowners who lease out their homes near college campuses understand that the majority of college students haven’t built their credit scores, so the homeowners don’t require a credit check but you may be asked to fill out an application. They may ask for a co-signer to sign the lease who does have a credit history, which is usually a parent of one of the lessees. The co-signer will sign the lease with the renters and the landlord prior to the move in date.
Once you move in, treat the property like you own it (pride of ownership) so you are more likely to get all of your cleaning deposit returned. Happy hunting and enjoy your new space!
