It’s hard to believe it, but experts are predicting a housing shortage – including rental units. As the country is recovering from the biggest real estate crash in recent history, the creation of rental units has slowed down, and the demand is still going up. So how do you give yourself an edge in this market?
Research on places you can go to. Always keep yourself updated on where the best places to look for a rental are. For example, sometimes the best place to look for new apartments are in places least hit by the recession. It makes sense in that some communities were able to keep on building or converting homes into new apartment units. You should also monitor rental housing rates across the city. Try to find the best balance of relative neighborhood safety, unit quality and cost of rent.
Be aware of your lease conditions. Read your current lease carefully. The last thing you need is to have a problem with your lease when you want to move out. And if you are planning to move to an apartment, this advice still applies. Do get advice from a friend who has experience with apartment living. You should also check with the local housing authorities.
Inspect the apartment first. If you have found a new place, make sure that the apartment is up to the local codes. Do check with local government offices to find out what the local codes are. You should also take into account noise, relative room sizes and neighborhood security factors. And don’t just check the area in the daytime. Visit the place at least three times, at different times of the day, to get a feel of how it is to live there.
Make sure you have the financial resources. It’s best to start planning six months or more before moving out. While you’re searching for a new place to move into, you should be tying up loose ends financially, like credit card debt and large loans (like car payments). Remember, too, that you have to consider the advance payment for the first few months, depending on how local laws apply.
Find out if you qualify for housing assistance. It doesn’t hurt to check if you qualify for government housing assistance. You should also check for qualification when it comes to energy, food stamp and utilities assistance. Remember, a penny saved is a penny earned.
Sign up on the box at the right for more rental housing and assistance options.
11 Responses
I’ll be moving into Steeplechase apartments in Cabot, AR., on 5 Aug. 2010. I am not working and receive my husband’s social security and 55% of his military pension. He passed in Feb. of 2009. So, my income is limited and the rent here is $510 a month. I’d like to apply for help with the rent. How do I go about doing this? Thank you, Suzanne K. Thomas
Posted on July 12th, 2010 at 7:45 pm
I think the best way to deal with your concerns is to see if your income qualifies for housing choice vouchers or Section 8 housing in the local area. You should also check out if you are good for LIHEAP (or the state version of it) assistance, as that will cut down on your utility costs.
Posted on July 14th, 2010 at 10:28 am
I Live with a reLative and there is no space i need to get an apartment before i become homeLess,
Posted on August 22nd, 2010 at 10:39 am
Hello, Luis!
Your best bet is to apply for the Housing Choice Voucher program, or Section 8 Housing. This is particualrly useful if you are currently classified under the low-income bracket. You can also search your neighborhood and other nearby areas for stay-in job openings, where you can at least get bed space in exchange for working.
Posted on August 27th, 2010 at 7:45 am
i live with relatives but they just nitified me that we need to be out in 3-4 wks max bacuse the house is foreclouser and thats the time limit they gave us what should we do?
Posted on November 6th, 2010 at 4:14 am
we live with relatives but they just notified us that we need to get out within 3-4 wks max because the house is in foreclouser and thats the time limit they gave us, what should we do in such short notice?
Posted on November 6th, 2010 at 4:17 am
I would like to know if im quilfied for the goverment grant.
Posted on January 18th, 2011 at 11:18 pm
i’m pregnant with no where to go in no one to help me in i have no income right now in its hard to find a place that will let me move in until my income kick in
Posted on February 17th, 2011 at 5:21 pm
I just was put on oxygen last week and is looking for a apartment or house, I have little income and can’t work,I have applied for diability and is still waitin on a decision.How ccan I get help?
Posted on March 17th, 2011 at 5:45 pm
I WANT TO NOW HOW YOU GET THE HOUSE O THE APARMEENT
Posted on March 23rd, 2011 at 9:56 pm
I LIVES IN THE APARMMENT I WANT TO MOVE BECUS I WANT TO TEY KISD TO BABY SITER
Posted on March 23rd, 2011 at 10:01 pm
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