Should You Rent on Your Own or with Your Friends?

Should You Rent on Your Own or with Your Friends?

The school year is a while away, but looking for a residence for the up coming school year is almost upon us. 

 

For many this will be the first time that they will be away from home, and the first time they will be responsible for a residence and rent. Many students to ease the burden opt to rent with a few friends. While this may be a great idea in the beginning, you should think about a few things vs. renting a place on your own. 

1. Privacy:

 

What if your friends want to party, or have sex and you need to study? What do you do then? Leave your place you pay for and go do your studies somewhere else?

2. Rent:

 

What if your friends are late with the rent? Who will cover them? Will you risk getting kicked out and losing your last month over your friend being irresponsible.

3. Cleanliness:

Do you like living in a pigsty? While, you might be clean, for many kids this is the first time their mom is not telling them to clean up. 

4. Place:

Typically if you need to rent a place with a few people, it needs to be a older house. There’s nothing wrong with that but you must understand its an older building. Some people want to live in a one unit condo or apartment which may suit your needs better. 

5. Do you know who you are renting with:

If you have a friend and they say hey we are going to rent with my other buddy but you do not know them, than this may be a problem. You are basically going to be living with a stranger and this can lead to problems down the road. 
These are a few factors to consider when looking for a place with friends, maybe it might be better to live on your own, or you may opt to take the plunge and live with a few buddies. 

Questions To Ask Before Renting a Place

Questions To Ask Before Renting a Place

Renting an apartment can be very stressful, especially if you are a student. Landlords demand that you have a certain income, or co-signer. They will also check your credit call your references and scrutinize everything about you.

What about the Landlord?

Questions & Clauses for Your Landlord

1. Are there any infestations? Mice? Roaches?
What is and how fast is the recourse?

2. Who else lives directly above, below and adjacent to you? Are they noisy? What happens if there is a noise problems?

3. What are the house rules? Common Area Rules?

4. Has there been any incidences of theft? What did you do if there were to remedy?

5. How is the heating in the building? Has it gone down this year? Can I change the temperature?

6. If Something breaks, how long until it gets fixed, for example a light bulb? Appliance? Who is responsible for the cost.

These are a few good examples of what to ask and in most cases put that in the rental contract.

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