Paying for your first apartment is an exciting time in anyone’s life. Nevertheless, you need to understand that it comes with a unique set of obstacles. If you’re a Gen Z renting an apartment for the first time, you need to pay attention to specific things rather than rushing the process.

Below, you’ll get to explore the most common mistakes Gen Zs make while getting their first apartments.

Not Paying Attention to the Lease Agreement

The lease agreement contains the terms and conditions of the space you’re renting. In a bid to start living alone, Gen Zs overlook the agreement and only understand the consequences later.

First, you need to pay attention to clauses about how long the lease will last for two bedroom apartments in downtown Los Angeles, the cost associated with your rent, and the fees attracted by late payments. You also need to scrutinize the agreement for extra fees like parking or utility bills.

Some landlords include penalties in the agreement for terminating the lease early. You need to go through them so that you don’t pay extra when you’re switching apartments.

Disregarding the Building’s Condition

In a haste to rent their first space, Gen Zs neglect the condition of the building. However, failing to conduct a proper inspection of the building can trigger difficulties for you.

You need to check the apartment and ensure that you can tolerate any of the issues in the apartment if there are any. The damages will have to be documented in the lease agreement so that you don’t have contrasting stories in case anything pops up.

You can take photos and videos of the areas of the apartment that are affected. This way, your landlord can’t claim that you caused the issue.

Budgeting Only for Rent

A lot of Gen Z renters budget for the rent and neglect other payments like utilities, security deposits, and renter’s insurance. In cases like these, they pay more than what they initially expected and this makes them feel like they’re breaking the bank just to get a living space.

You need to budget for utilities like water, electricity, and natural gas. Electricity ranges from $100 to $150 and natural gas could cost you anywhere from $20 to $60. These bills take a good chunk of your disposable income.

You also need to make provision for the security deposit. The security deposit is typically no more than one month’s rent. Finally, you need to get renter’s insurance so that you don’t lose your entire possession when the building gets damaged.