1. Understand your budget.
Most authorities recommend that renters garner an income at least three times as much as their rent. This affords tenants the ability to safely cover their rent and utilities as well as expenses of food, transportation, and recreation. Remember, it’s far better to save some each month than break the bank on an extravagant apartment or condominium.
2. Follow your lease.
Read through the paperwork carefully. Understanding your agreement will ensure you receive as much of your security deposit as possible. Keeping pets, painting, smoking, or other activities may not be permissible in your situation.
3. Take photos.
Moving in is exciting, but take the time to document the space as you came to it. This way, any liability for damages or modifications you did not make will not fall on your hands.
4. Treat your space with care.
Rather than using nails or tacks that leave holes in the walls, try for other attachment methods. Visit your local hardware store to peruse personalization options that won’t cost you later.
5. Invest in Renter’s Insurance
In the case of theft, burglary, or other harm, many renters find themselves underprepared and fiscally burdened. Many cost-affordable renter’s insurance plans will cover as much as $50,000 in stolen or damaged goods.
A former Israeli Navy lieutenant, Ori Tal holds a degree in law and economics from Haifa University.