First time Renters? What you need to Know

At Alter Property Management, we are invested in providing quality service to both our property
owners and the tenants that occupy our properties. If you are looking for a first time rental or
seeking a new rental, we have 7 of the best tips for you.

1. Work with a Professional

When it comes to finding your next home, you want the help of an expert. A real estate agent
can help you find rental properties before they hit the market. In many rental markets, you can
work with a real estate agent free of charge, since the apartment owner typically pays the
agent’s commission. Alter Property Management works with a team of real estate agents to help
place the best tenants in their desired homes. Reach out to our team to find the upcoming
rentals we have.

2. Determine your needs

What features do you want? Is location more important to you or would you rather have a large
backyard to play in? What other amenities do you need or want to have in your new home?
Determine your family’s needs and how many bedrooms you will need before trying to find a
new rental.

3. Set a Budget

Before you start searching online for your dream rental home, determine how much you can
truly afford to pay for rent. There are many items that you should consider when setting your
budget. Where you live affects everything from your commute to your workout routine. Factor in
additional costs (or savings) you might incur depending on your rental choice and location.

4. Invest in Renter’s Insurance

Having renter’s insurance protects your assets.Landlords have property insurance but those
policies cover only the building, not your personal items within. Renter’s insurance is often times
very affordable and can cost about the same as a cup of coffee.

5. Property Management team vs Self Management

When working with a property management team you should expect maintenance issues,
repairs, or other issues to be handled promptly. Respect for your privacy, and other resident
rights you have. If you choose to rent from a self managed rental, you are renting from the
owner of the home. Landlords/Owners can often create their own leases, and they are the ones
that determine rent and security deposit amounts. They are the ones that handle maintenance
requests, handle any inspections at the property and more.6. Understand Application Process
If you haven’t found the perfect rental just yet, understanding the application process in
advance will make everything less stressful and easier to manage. Your new landlord will ask
for personal information, employment history, monthly income, rental history and references.
They will perform credit and background checks to verify your eligibility. Landlords can legally
request social security numbers as well.
7. Do a Thorough Walk Through
Remember to do a walk through of your new home before moving in. Scrutinize your new home
for pre-existing damages when you move in. It’s important to be observant during the walk-
through so you can spot any damages before moving in and receive the full amount of your
security deposit once you move out.Take photos for documentation and provide copies to your