Header bg
  • section background

    Things to Know Before Renting an Apartment

    Hero bg 2
    stil-flRm0z3MEoA-unsplash

    Finding an apartment to rent or sublet can certainly be a challenge. However, it becomes a lot easier to find the ideal place when you do some research and understand your own standards of living and your overall budget.

    According to the National Apartment Association, it’s normal not to know it all when it comes to renting your first place “first-time renters often go in blind,”.

    Being prepared to begin the search for an apartment or sublet means having a clear understanding of what to know. The following article will help you and clear up a few of your questions or concerns regarding apartment renting.

    Get a quote in less than a minute

    Get no-nonsense coverage that's the best value for your money. Purchase policies from your computer or phone, receive your documents instantly, and save when you buy online.

    Get a free quote

    4.6 rating

    Google Logo

    Questions to ask when renting your first apartment

    Renting an apartment can be overwhelming as there are many things to consider before making a decision. It is important to think of key questions that can help you decide on the best apartment that fulfills your needs. Here are a few questions listed to simplify your decision making process and ensure your apartment is a must-have.

    • How do you qualify for an apartment?

    • What is the best month to start renting an apartment?

    • What expenses do you have when renting an apartment?

    • How much can you comfortably afford?

    • How much space do you need?

    • Is the location of the apartment ideal for you?

    • Is it easy to commute from the apartment?

    • Can you easily get to work or school?

    • Is the apartment close to grocery stores and parks?

    • Is it a safe neighborhood?

    • Would you prefer a full-service apartment building with on-site management or a smaller building where you can work directly with the property owner?

    • How important is it for your apartment to provide amenities like covered parking, a fitness center, a pool, or a laundry room?

    • Can you commit to a one-year lease term, or do you need the flexibility of going month-to-month?

    Get comprehensive Tenant Insurance for what matters

    Get no-nonsense coverage that's the best value for your money. Purchase in less than a minute, receive your policy instantly, and save when you buy online.

    How to rent an apartment for the summer

    Moving or finding an apartment in the summertime is not as difficult or complicated as it seems. July 1st is generally considered the moving day of the year. If you decide to find an apartment during the summer, you can easily rent one or even find a sublet to avoid signing or breaking a 12-month lease. There are a few websites that make it easy for you to find a sublet such as.craigslist.org, sublet.com, flip.lease or anyplace.com. Planning to move in between the months of May and Septement will give you the best apartment options as well.

    Minimum credit score required to rent an apartment

    It is essential to keep in mind that companies or individual landlords who manage rental will check potential tenant’s credit score and credit history before proceeding with rental lease signing. A landlord will check your credit score and credit rating in order to assess a tenant’s financial situation and responsibility. A negative credit score can equal a higher risk for the landlords or property managers, and this may lead them to reject certain tenant applications.

    The landlord will typically accept an individual with a higher credit score and a good credit history. A good credit score ranges from 670 – 739. Typically, the minimum credit score required to rent is 650, but that number can vary based on the market. A higher credit score is equal to greater trustworthiness from the landlord and a faster rental process.

    Get a quote in less than a minute

    Get no-nonsense coverage that's the best value for your money. Purchase policies from your computer or phone, receive your documents instantly, and save when you buy online.

    Financial considerations when renting an apartment

    Getting an apartment is a small commitment, but it is still an important financial decision that determines where you will live and for how long you will be renting. There are a few financial considerations to think about before renting or subletting an apartment. Here is a list of all financial considerations:

    • Length of the Lease

    • Due date of the rent

    • If utilities are included and what you will need to purchase if they are not

    • If any deposits made are refundable or not.

    • The amount of time you have to notify the landlord before moving out

    • Cost of renters’ insurance

    Conclusion

    Looking for an apartment or sublet can be simple and fun if you are prepared and if you have done your research. You can have a smooth rental process with the information we have provided you above.

    You can embark on your apartment hunt adventure without fear. Just remember to pay attention to all the details, prioritize your needs to transform your apartment into a beautiful home, and make sure to keep track of costs in order not to go over your budget.

    Get comprehensive Tenant Insurance for what matters

    Get no-nonsense coverage that's the best value for your money. Purchase in less than a minute, receive your policy instantly, and save when you buy online.

    Originally published May 28, 2021, updated September 5, 2023

    Back to APOLLO Magazine
    Share this article

    Get a quote in less than a minute

    Get no-nonsense coverage that's the best value for your money. Purchase policies from your computer or phone, receive your documents instantly, and save when you buy online.

    Get a quote in less than a minute

    Get no-nonsense coverage that's the best value for your money. Purchase policies from your computer or phone, receive your documents instantly, and save when you buy online.

    Relevant articles

    section background
    section background

    Getting insured is as easy as 1 - 2 - 3

    Tell us (very little) about yourself
    1

    Tell us (very little) about yourself

    Just tell us your address, your name, email and phone number. And that's it. We'll give you a price in less than a minute.

    Pay online easily and securely
    2

    Pay online easily and securely

    You can choose to pay monthly or save money by paying for the entire year in one easy payment.

    Get your documents in your inbox - instantly
    3

    Get your documents in your inbox - instantly

    As soon as you complete your purchase, you'll find your proof of insurance and policy documents waiting for you in your inbox.

    Get covered today - it couldn’t be easier

    We’ve provided more than 1,000,000 quotes to Canadians just like you. Give it a try!

    Google Logo

    Reviews

    4.6 rating

    1,861 reviews

    view all

    Across Canada

    Contact Us
    Apollo logo

    © 2024 APOLLO Insurance Solutions Ltd.

    111 Water Street, Unit 210, Vancouver, British Columbia, V6B 1A7

    APOLLO Insurance Agency Ltd. (o/a APOLLO Brokerage in the province of Ontario only) is a licensed retail brokerage, offering our clients with a comprehensive set of insurance solutions to meet their individual needs. APOLLO Insurance Agency Ltd. maintains necessary corporate licensing in provinces across Canada. Availability of products and service depends on licensing and product availability. The information that appears on this page is provided for information purposes only. Advertised products and prices are not guaranteed and vary based on insurance provider and/or insurance company's discretion and product availability.

    Transparency and Disclosure: APOLLO Insurance Agency's role is to provide you with exceptional service and the best insurance products that suit your needs. As a licensed retail brokerage, our compensation is based on a commission basis already built into your insurance premium and varies based on the product purchased through our platform. For a description of how APOLLO Insurance Agency is compensated and how this is calculated, please refer to our Compensation Disclosure document. For consumers in Ontario, please review the RIBO Conduct Fact Sheet and the RIBO Conduct Guidance document.