Apartment Rental Expenses

If you have never lived out on your own before, and are considering renting your first apartment, there are a few things you should be aware of. First off there could be an application fee and/or credit check just to apply for an apartment. This can cost anywhere from $25 to $100. Secondly, a security deposit is almost always required at the time you lease the apartment. It can run as much as 1 1/2 times the monthly rent. Thirdly, some landlords also require a final month's rent up front. That is in case you damage their place, they will use that money to fix it up again and could even charge you more if you really make some serious damage to their apartment. Then you have the expenses of furnishing the apartment and moving your furniture into the apartment. New curtains, new rugs are just a couple of things you will want to get. Finally, please consider taking out renters' insurance in case of fire or theft. This can run you $15 to $30 a month to protect your belongings. You can take a higher deductible to lower your insurance premiums and you will have to stand more of the cost of replacement in case of a disaster. But it is definitely one thing that is a must and so many people don't think of it and are very sorry later on when a thief breaks in or a fire or something like that.