Finding a new apartment can be challenging. There’s a lot to consider, but with a structured approach, you can be confident that you’ll significantly increase your chances of finding a place that fits your needs and budget.
This guide breaks down nine simple steps to help you find and secure the right apartment, even in a competitive rental market.
1. Start Your Search Early
Starting your apartment search well in advance increases your chances of finding a place that meets all your criteria. It’s recommended to begin looking at least 2–3 months before your intended move-in date. This timeline gives you enough time to explore various options, schedule viewings, and handle the application process without the pressure of looming deadlines.
2. Define Your Rental Budget
“The trends driving rent growth lower will likely persist in 2025,” states thoughtleadership.rbc.com in their analysis of the Canadian rental market in 2024. This is a positive trend for renters looking to change their place of residence, especially now when it should be profitable.
Establishing a clear budget is the foundation of your apartment search. Financial experts often recommend that your monthly rent should not exceed 30% of your gross monthly income. This guideline ensures you have enough funds for other essential expenses and savings. For example, if your monthly income is $4,000, aim to keep your rent at or below $1,200.
3. Set Your Expectations
Take the time to define what you truly need in your next home. Consider factors such as the number of bedrooms, amenities like in-unit laundry, pet policies, and overall layout. A clear vision will streamline your search, helping you focus on apartments that align with your lifestyle while avoiding those that don’t. It will also make communication about your future apartment easier.
4. Inform Your Friends and Relatives
While online rental listing services are on the rise, they’re not always convenient, and many people still don’t use them, considering renting a more “personal” business. By spreading the word to your friends, family, and close relatives, you can increase your chances of finding a good option—possibly at a lower price or with additional benefits from the owner. Prism’s philosophy embraces these methods while maintaining professionalism and handling maintenance and other concerns for you.
5. Drive Around the Neighborhood
While researching a neighborhood online can be helpful, nothing compares to getting a firsthand experience. Take the time to explore the area and check out key aspects such as:
- Public transportation
- Parking spots
- Grocery stores
- Other amenities that meet your needs
Another helpful tip is to ask locals about their experiences. This kind of information is invaluable and will play a key role in your final decision-making.
6. Ask the Right Questions
Don’t let aesthetics distract you from asking essential questions. Find out what utilities are included, how maintenance requests are handled, and whether there are additional fees for parking, storage, or pet rent. Prism Property Management has established itself as a trusted leader in managing live/work and condominium properties, emphasizing responsive and professional service. However, not every landlord or management company meets these standards, so it’s important to be mindful and clarify key details upfront.
Related: Renting Your First Apartment? Avoid These Common Mistakes!
7. Inspect Before You Commit
Take a look at the apartment that could become your home for the next few months. Does it look as good as it did at first glance? Take your time and check for common issues. Inspect for water damage, test outlets, faucets, and appliances. Open cabinets and seals, and confirm that all doors and locks function properly. This is essential before signing a lease.
8. Offer a Longer Lease
Extending your lease term beyond the standard duration can be an effective strategy to secure a place you truly like. It may also come with benefits such as a lower rent price or added lease flexibility.
9. Get Ahead of the Competition
In a competitive rental market, preparation can set you apart from other applicants. Show landlords that you’re a serious and reliable renter by having everything ready in advance. Gather references from past landlords, proof of income, and a copy of your ID so you can act quickly when you find the right place. Landlords appreciate applicants who are organized, responsive, and proactive—often, that’s what makes the difference between securing the apartment or losing it to someone else.
10. Have a Backup Plan
Apartment searches don’t always go as expected, but don’t let that overwhelm you. Having alternative options—such as a second-choice apartment, a short-term rental, or temporarily staying with friends or family—can help. This flexibility allows you to wait for a better opportunity rather than settling out of urgency. The key is to stay proactive and adaptable, knowing that the right home may take a little longer to find.
11. Understand Your Lease Agreement
Before signing the rental agreement, take the time to thoroughly review it. Ensure that both you and the property manager or landlord agree on the details and that they are accurately reflected in the document. If you’re unsure about anything, consider seeking help from a legal professional. This will prevent future misunderstandings and protect you from unexpected costs or responsibilities.
Final Preparations
Once you’ve secured your new place, be sure to set up your utilities and services in advance—including internet, electricity, and other essentials—so everything is ready when you arrive. Additionally, plan your moving logistics ahead of time, whether it involves booking professional movers, renting a truck, or organizing your packing schedule. With careful preparation, you can transition into your new home smoothly and start enjoying your space from day one.
FAQ
What is the best month to move?
Winter months, such as December–February, usually offer the lowest moving costs. On the other hand, summer (June–August) is the busiest and most expensive, but ideal for families with school-age children, as it coincides with school breaks.
What is a good budget for a first apartment?
A good rule of thumb is to spend no more than 30% of your monthly income on rent. Be sure to factor in utilities, renters’ insurance, and household essentials when setting your budget.