Make Sure You Look Before You Leap

April 24th, 2012

Jim has just made a huge life changing decision. He has decided to move out of his parents house, and he has decided that getting an apartment is the best choice given his current situation. Good for Jim. It is about time that he grew a set of wings and left the nest.

Jim is 19. He knows everything, and he thinks he knows the best way to find an apartment. He has something to prove to everyone. He looks online, and finds an excellent deal on an apartment that has a move in special. He will only be required to pay the first month’s rent. This sounds like a great deal to Jim. He knew that it would not be that difficult to find an excellent apartment.

He immediately goes to the apartments complex and heads for the office. He is greeted by a smiling young woman who runs the office. She tells him that he has to fill out some paperwork before he can move in and he must sign a two year lease.

Jim has no idea what a lease is, but he knows that he has to move into this apartment. He hands over the first month’s rent, and then signs on the dotted line. Jim just made several mistakes that may possibly haunt him for a very long time. Do you know what mistakes Jim just made?

The first and most obvious mistake that Jim made was signing the lease without knowing what he was getting in to. Now he has to live in this apartment for at least two years. If he breaks the lease, he will be responsible for the entire remaining amount that is on the lease. This could easily exceed several thousands of dollars. Let’s hope that this does not happen to Jim.

Jim also made another huge mistake. He never even looked at the apartment. He was so eager to move out, that it simply slipped right by him, and unfortunately his apartment is a dump, and to make matters even worse, there is a set of train tracks just ten feet from the window in Jim’s new apartment and every single morning at 6:15 sharp, a train comes barreling down those tracks.

Don’t do what Jim did. If you are thinking about moving into an apartment complex, make sure that you know exactly what you are getting into. You could be making a huge mistake that could have easily been avoided.

Entry Filed under: Property Management,real estate advice