Renting an apartment, condo, or house is a great option for those who aren’t ready to commit to a mortgage and a property. However, when you are getting ready to rent a space, it’s important that you know what costs you will face. After all, it may not just the monthly rent you need to consider. From application fees to deposits to renters insurance in Antioch, CA, here are a few costs you should prepare for when renting.
Costs to Consider When Renting
- Application fee
Most landlords and agencies will require an application fee upfront in order to even consider your rental application. This fee will be used to conduct a background check on you and any other prospective tenants. The landlord will review your credit history, criminal record, and eviction history before accepting or rejecting your application. Often, this fee will range from $20 to $75.
- Upfront deposit
You will need to put a deposit down on the property before you move in. This can be anywhere from one to two months’ worth of rent. If you have a pet, you may be required to pay a higher initial deposit.
- Renters insurance
The building itself will be covered by the landlord under their own insurance. However, this coverage will not protect your own belongings. For this coverage, you will need to take out a renters insurance policy, which protects your possessions and provides liability coverage in case there is an accident on your property.
Being prepared for these costs will help you find the right place that suits your budget. Remember to factor in moving costs, furnishing expenses, and utility bills, too.
When you’re ready to secure a quality renters insurance policy, talk to the friendly experts at Jack Stone Insurance Agency. We serve Antioch, Brentwood, and surrounding cities in California. Contact us today to get started!