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How to Locate A Living Space

How to Locate A Living Space

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How to Locate A Living Space

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Presentation Transcript

  1. How to Locate A Living Space

  2. Introduction • Needs and Wants • Determining Housing Costs • Housing Options • Locating a Living Space • Reading an Ad for a Living Space • Rental Search Checklist • Completing an Application form

  3. Needs and Wants • Space • Location • Amenities • Parking • Miscellaneous

  4. Space • How many rooms are needed? • Will there be roommates? Monthly charges are typically more affordable when people share the cost • Size of the rooms (total square feet) • Number of bathrooms • Garage • What is the size of the garage? • Storage Space • Yard

  5. Location • Distance from work, schools, shopping, laundromat • Consider the walking/biking distance from school or work • Minimize transportation expenses • Neighborhood • Safety • Quality of schools, streets, and homes • Presence of police, fire, and emergency services • Geographic location • Urban vs. rural

  6. Amenities • Amenities include utilities like heat, electricity, garbage, water, and other features like Internet and telephone service • Heat- Examples include electric, gas, and radiant • Different heating sources cost different amounts of money • Power- Examples include solar, gas, electric, and wind • Different power sources cost different amounts of money and have different affects on the environment • Who is responsible for paying each bill? • Landlord is the person who owns the rental unit • Tenant, or renter, is the one who rents the property

  7. Parking • Location/size • Number of vehicles allowed (for self and guests) • Permits needed

  8. Miscellaneous • Washer and dryer • Are hookups or machines provided? • Dishwasher • Are hookups or machines provided? • Smoking • Pets • Fireplace • Hot tub • Snow removal and lawn maintenance

  9. Determining Housing Costs • Important to choose a rental unit one can afford • Create a spending plan • Spending plan is a financial statement used to assist in money management and track income and expenses • Based on this, determine what can be spent on rent and amenities • Rent is the payment made in exchange for occupying another’s land or property, usually paid to landlord or property manager • Property manager is a person who works for the owner to find/screen tenants, collect rent, maintain property, and respond to tenants’ needs

  10. Housing Costs continued • General rule: Households should spend 30% or less of their net income on housing, not including amenities • Things to keep in mind when determining costs: • Determine maximum monthly amount (including amenities) you can afford and stay below that • Compare the costs of living spaces • One space may not include amenities in the rent, where another space will. Add in expected costs to compare the two

  11. Housing Costs continued • Compare one time costs, like security deposits • Security deposit is money paid in advance of moving in to be used for repairs beyond normal wear and tear

  12. Housing Options • Houses-Single housing units usually surrounded by a yard, varying in size • Apartments-Sets of rooms on one floor or a building used as separate residence spaces • Studio apartments-Usually one room with separate space for kitchen and bathroom • Mobile homes-Manufactured house that is capable of being moved

  13. Housing Options Continued • Condominiums-Single apartment in a multiple housing structure, that can contain multiple stories, garages, and yards • Duplexes-Two apartments, situated side-by-side • Rooms-Private rooms located within another structure • Residence halls-Usually located on college or university campuses and available for attending students

  14. Locating a Living Space • Friends and family members- If in the area you wish to inhabit • Newspaper Classifieds-Obtain these through newspapers as soon as possible for increased opportunities for the living space you want • Bulletin boards-Homeowners and property managers post listings this way • Internet-Great way to start searches from distant locations

  15. Locating a Living Space Continued • Yellow pages- Search under “Apartment Rentals” and call apartment or property management offices • Local Chamber of Commerce- Valuable resource when relocating • Rental agencies/real estate agencies- Hold postings for rental spaces • In front of living space- Owners often post a sign when spaces are available

  16. Reading an Advertisement For a living Space • Abbreviations are often used in advertisements for living spaces • BR-Bedroom • BA-Bathroom • W/D-Washer/Dryer (may be hookups or machines) • DW-Dishwasher

  17. Reading an Advertisement Continued • NS- No smoking • NP- No pets (may be negotiable-you may pay more if you have pets) • F/P-Fireplace • AC- Air conditioner • W/S/G-Water, Sewer, and Garbage

  18. Rental Search Checklist • Helpful to take a checklist while walking through rental units • Makes it easy to remember what was liked and disliked from place to place • May be difficult if one is not able to take a walk through • A person may be able to take a virtual tour and use the checklist

  19. Completing an Application Form • If an individual locates a living space they would like to rent, they should complete an application form • An application form is a document used to determine if a person’s credit history, financial stability, and references make them a worthy candidate • All information on this form should be truthful, factual, and answered completely

  20. Application Form continued • Before returning the application, a person should ask some questions: • Is there an application fee? • If there is a fee, how much is it? • Will this fee be returned if the application is denied?

  21. Conclusion • Prioritize needs and wants • Determine housing costs • Locate a living space • Get ready to move in!