4 Tips for Renting an Apartment

4 Tips for When Renting an Apartment

This post is sponsored by BabbleBoxx.com on behalf of Erie Insurance.

After my divorce, I lived with my parents and I started to save money for a NEW place for me and my boys. I was working a full-time job and I knew that it was time to move out and start a new journey with my boys in a place we could call our own. While I was hunting for an apartment, there were a few things I learned from previously renting when I was married. I have rented 2 apartments prior to moving out on my own with the boys.

4 Tips for Renting an Apartment

Find Something In Your Budget – Make sure you’re finding an apartment that meets your needs but also that’s in your budget. When it comes to renting you want to make sure your income is at least 2-3x more than your rent. You don’t want to rent a place that you can’t afford to pay on time OR pay other utilities on top of it. 

Save Money Prior to Renting – You have no idea how financially secure you will be if you save money prior to renting. Even if it’s $500, you know that you have that money saved up in your account for emergencies. It also helps when it comes to signing your lease cause you will need a security deposit + first months rent.  

4 Tips for When Renting an Apartment

4 Tips for When Renting an Apartment

Make Your New Place Your Own – After you sign your lease to your new place, you want to make sure you make your place your own. Now don’t go overboard on spending right away, take things slow. By from second-hand stores or see if family/friends are getting rid of something you can use. 

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Get Renter’s Insurance – Some apartments (at least in Madison) require you to get renter’s insurance as part of your lease. This is not something that is covered by your landlord you have to pay for it. Renters insurance is quite AFFORDABLE.

  • Which renter’s insurance company should you select? Erie Insurance.
  • Reasons to Have Renter’s Insurance:
    • If something happens for example like a fire, you don’t want to lose all of your belongings. Having renter’s insurance coverage provides additional living expenses, which can pay for a hotel stay, temporary rentals, meals and other expenses you may have.
    • Covers personal properties everywhere! Not only does renter’s insurance cover your home but let’s say your laptop gets stolen, that’s covered by renter’s insurance.
    • This also covers medical bills if someone gets injured while in your apartment. 

Having renter’s insurance keeps my mind at ease. We have valuable things like our electronics, furniture, clothes, and even my makeup collection (for work), I definitely don’t want to risk not being to recover those items if something happens to my apartment.