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Renting an Apartment
Advantages of Renting Instead of Buying a Place
to Live• Mobility• Minimal
Responsibilities• Financial Freedom
– spend less on housing than homeowners do
Disadvantages of Renting
• Do not gain equity• Cannot remodel
and decorate as you please
• Must follow rules set by other people (landlord)
• Not really yours (no ownership)
Selecting an Apartment
• Defining Housing Needs
• Locating Suitable Units
• Conducting and Inspection
• Evaluating Lease Terms
Defining Housing Needs
• Location- close to campus or work??
• Space/Size – 1 bedroom, 2 bedroom, studio
• Furnishings
Locating Suitable Units
• Newspaper and internet – classified ads
• Ask friends• Rental Agencies • Look for signs
posted
Conducting an Inspection
• Safety (lights)• Security• Fire Exit• Neighbors – age &
attitude• Parking• Cleanliness• Painted Walls?
Conducting an Inspection
• Plumbing• Appliances• Door Locks –
changed?• Windows • Drapes• Storage• Furnishings• Privacy?
Evaluating Lease Terms
• Parking Included• Laundry on premises• Rent/due date• Length of lease• Security deposit• Utilities• Ending lease/subletting• Repairs & maintenance• Landlord’s right to
enter• Restrictions
(pets,parties)
When a conflict arises… and it probably will!
Rules for good discussion: • Focus on the behavior- not your roommate. • "Own" your feelings. Remember- no one can make you feel
something- you choose to feel that way. • Try and listen to your roommate's perspective. Let him/her
speak without interruption. • Make sure you understand what is being said. Never assume
anything. • Remember that this is not a win lose situation. The goal is to
find some kind of compromise with which you can all live. • Try to remain calm!