Dane Tashima
03.09.2024 - 19:18 / thespruce.com
Moving into your first home or rental can be an extremely daunting task, especially if you have no prior knowledge of the ins and outs of the lease signing process.
When I moved out of my childhood home, it was a much more complicated process than I imagined—starting from the apartment hunt itself. I wasn't nearly as prepared for all the ins and outs of finding the perfect rental, so I made some mistakes and learned along the way.
A recent survey by Streeteasy found that the average upfront cost to move into a rental was $10,454 in 2023, up 29% from 2019.
With moving being such a significant investment—even for just short-term rentals—it’s important to know what you’re getting into and make sure signing your lease is as simple as possible, and that means making sure everything in your lease makes sense for you before you pay up.
We spoke with some rental experts about the top things to keep in mind before signing your lease.
Casey Roberts, StreetEasy Consumer Trends Expert, believes the very first thing you should do is make sure the upfront costs of moving are within your budget.
“It’s common across the country that you’ll pay first month’s rent and a security deposit upfront at the time of your lease signing, but depending on where you’re renting, you may be responsible for other fees too," she says.
Additional fees can include a broker’s fee, which can range anywhere from a full month’s rent to 15% of the annual rent.
Sometimes, brokers themselves are not clear about the full amount of their fee upfront, and there can be even more fees added on when moving.
“Depending on where you’re renting, you might also be required to pay last month’s rent, a move-in fee, a pet deposit, or an amenity fee,” Roberts
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