Renting Your First Apartment: A Step-by-Step Guide
Renting an apartment for the first time is a big milestone, but it can also feel overwhelming. Between budgeting, lease agreements, and move-in logistics, there’s a lot to consider. At Corken + Company, we’ve spent over 20 years helping renters navigate the Colorado housing market, and we’re here to make the process smooth and stress-free.
Whether you’re moving out for the first time or transitioning from a previous living situation, here’s everything you need to know before renting your first apartment.
1. Set a Realistic Budget
Before you start apartment hunting, figure out how much rent you can afford. A common rule is to spend no more than 30% of your monthly income on rent. However, it’s also important to factor in:
✅ Utilities (electricity, water, gas, internet)
✅ Parking fees or public transportation costs
✅ Renter’s insurance (often required by landlords)
✅ Groceries, entertainment, and personal expenses
Having a clear budget upfront ensures you find an apartment that fits your financial situation.
2. Check Your Credit Score
Most landlords check your credit to assess financial responsibility. If your credit score is low, consider:
💡 Providing references from previous landlords or employers
💡 Offering a larger security deposit to ease concerns
💡 Using a co-signer if needed for additional financial backing
Good credit can help you secure better rental terms, so it’s worth checking where you stand before applying.
3. Make a List of Must-Haves
With so many rental options available, it helps to narrow down your search. Ask yourself:
🏡 Location: Do you need to be close to work, public transit, or certain neighborhoods?
🏡 Amenities: Do you need in-unit laundry, a gym, or a pet-friendly space?
🏡 Parking: Does the building offer reserved parking, or will you need street parking?
Prioritizing your needs ensures you find a space that matches your lifestyle.
4. Tour Multiple Apartments
Pictures don’t always tell the full story. When touring an apartment, check for:
👀 Storage space: Closets, kitchen cabinets, and extra storage
👀 Noise levels: Visit at different times to gauge sound from neighbors or traffic
👀 Safety features: Secure locks, well-lit entryways, and working smoke detectors
Seeing multiple apartments also helps you compare pricing and amenities before committing.
5. Read the Lease Agreement Carefully
Before signing, review the lease terms carefully. Look for:
📄 Lease duration (most are 12 months, but some offer flexibility)
📄 Security deposit policies and refund conditions
📄 Maintenance responsibilities (who handles repairs?)
📄 Subletting rules (if you may need to move before the lease ends)
Understanding these terms will help you avoid unexpected surprises later.
6. Inspect the Apartment Before Move-In
Before moving in, do a detailed walkthrough and document any existing damages. Check for:
🔎 Leaks or plumbing issues in the kitchen and bathroom
🔎 Functioning appliances like the refrigerator, oven, and washer/dryer
🔎 Walls and flooring for scratches or stains (take pictures if necessary)
Reporting any issues upfront helps you avoid being charged for damage you didn’t cause.
7. Consider Renter’s Insurance
Renter’s insurance protects your belongings in case of theft, fire, or natural disasters. Many landlords require it, but even if they don’t, it’s a smart investment.
It typically costs $10-$20 per month, making it an affordable way to protect your valuables.
8. Plan for Upfront Costs
Renting an apartment often requires more than just the first month’s rent. Be prepared for:
💰 Security deposit (often equal to one month’s rent)
💰 First and last month’s rent (some landlords require this upfront)
💰 Application fees (to cover credit and background checks)
Having these funds ready will help you secure your ideal apartment quickly.
9. Prepare the Right Documents
Most landlords will ask for:
📝 Proof of income (pay stubs, offer letter, or tax return)
📝 Photo ID (driver’s license or passport)
📝 Rental history or references from previous landlords or employers
Having these documents on hand will make your application process much faster and smoother.
10. Understand Utility Responsibilities
Before moving in, clarify which utilities are included in rent and which ones you’ll need to set up. Common utilities include:
✅ Electricity & gas (tenant responsibility in most cases)
✅ Water & trash (sometimes included in rent)
✅ Internet & cable (you’ll likely need to set this up yourself)
Understanding these costs will help you plan your monthly budget more accurately.
Final Thoughts
Renting your first apartment is an exciting step toward independence. By following these tips, you’ll feel confident navigating the process and finding a home that fits your needs.
At Corken + Company, we specialize in helping renters find the perfect place to call home. Whether you’re looking for a short-term lease, long-term rental, or expert advice on leasing, our team is here to guide you.
📞 303-858-8003 | 🌐 www.corken.co
