Elite Leasing is now Miller Family Properties

10 Steps - How to Rent a Home

Oh, the joys of becoming an adult! The transition of moving out of your parent’s home and into you own space is an exciting journey. Do you know where to start? If not, that is okay, we are here to walk-you through this process. Follow these steps that we have compiled for you, and you will be ready to conquer this milestone.

Step #1 – Determine Your Budget

The main hurtle that you are going to have to master is a budget. While living at your parent’s home was a breeze. You had chores and possibly an allowance. You did not have to pay the bills or rent, but you are embarking on your own story now. The benefits that you were receiving at home will no longer exist.


Moving out into the world and spreading your wings will have some costs associated with the dream. You will need to consider the following:

  • Rent
  • Car payments
  • Insurance
  • Groceries
  • Utilities
  • Entertainment
  • Personal care
  • Eating out
  • Travel costs
  • Student loans
  • Savings

If you are unsure of your spending habits, go to your banking information. Take a detailed look through the past 90 days transactions. You will need to have a clear understanding of your income vs. expenses. Once you have grasp on your financial situation, you will be able to know how much rent you can afford on a rental.


Step #2 – Roommate

You just figured out your budget. Can you afford to live alone? One thing to consider is having a roommate. I know you are wanting to get out on your own, but if it is not finically feasible, I would definitely consider the possibility of having a roommate. 


Maybe after you crunch the numbers, you realize that you can afford to live alone, take in consideration the loneliness factor. We are built to thrive on human interaction. If you have a great social life, and do not mind living alone defiantly try it first. However, if you do find yourself missing human interaction you can always add a roomie later!


If you do decide to get a roommate, make sure that their name is on the lease and that they understand that they are equals and are held responsible too for all the financials getting paid on time. Check out our blog “Living with a Roommate,” for more information.

Step #3 - Know Your Credit Score

Why is this important? Great question! This three-digit number ranges from 300-850 and sums up your creditworthiness, or how likely you will pay the landlord their rent. This number might not be a deal breaker, but it could determine the amount of money that you would have to put down on the rental property. You should check your free credit score at www.annualcreditreport.com to get an idea where your score stands. This will also allow you to check if any fraudulent or suspicious activity is going on under your name.

Step #4 - How Much Money to Put Down?

You are probably tried of hearing about money, but it takes money rules the world. All rental management properties are different. Expect to hear the words, security deposit, 1st month’s rent, and last month’s rent.


Security deposit is funds that you grant the landlord for any damages that might incur while living that their property. These deposits may or may not be refundable make sure you ask about their policy. First months and Last month’s rent is as it sounds. The renter is just making sure that you are pre-paid. Not all management properties charge last month’s rent.

Step #5 - Make a list of Must-Haves 

Now is the time to start thinking about the must-haves for your home. Is there anything in particular that you have to have in your home? Make sure that you are flexible and reasonable when it comes to your wish list vs. your budget. Here are a few ideas to get you started. 

  • Garage
  • Backyard
  • Fence
  • Pet Friendly
  • Washer & Dryer 
  • Central AC & Heat
  • Number of Bedrooms & Bathrooms

You may have other must-haves that you are looking for when you are renting, just make sure that you know your rental is not going to be the home of your dreams and you may have to settle on fewer items to make the home budget friendly.

Step #6 - Do Research

I know, just when you thought your days of research was done, you have to do some more. However, this research is beneficial to your living and worth the effort. Make sure that you drive by the houses on your list and not just look them up on the internet. You need to take into consideration the following ideas:

  • Neighborhoods
  • Crime Rate
  • Commute to Work
  • Parking
  • Lawn Care

Like the must-haves list, you will have other principles’ that you are going to want to research. You want to make sure that the home you choose is going to be safe and something that will be what you need. This research will also help you see if you need to change any allowances in your budget, e.g., parking expense or lawn maintenance. 

Step #7 - Tour Homes

All the hard work and dedication has led you to be able to tour the homes on your list. This is the fun part! You have ruled out the homes that did not meet your criteria and you are ready to book your tours.


You will need to set appointments with the management company. This is a great way to meet your future landlord and get familiar with them. I know that you are wanting to tackle this adventure on your own, but it is a smart idea to bring someone with you on the tour. Having two set of eyes and brains will make sure that you do not overlook anything, and this also keeps you safe when meeting a stranger. This I Make sure that you do a full walk through and check everything out.


Here is a list of questions to keep in mind during the tour.

  • Does the house look like it is well maintained?
  • Does it have any wired smells of mold or water damage?
  • Is the ceiling leak free?
  • How is the flow of the house?
  • Are windows in good condition?
  • Do you see any bugs? Make sure to look under/ in cabinets.
  • Are the bedrooms big enough?
  • Is there closet space?
  • Is the kitchen big enough?
  • How is the cabinet and storage space?
  • Are their smoking detectors, and are they functional?
  • What is the mail situation?
  • Do the appliances work?
  • Does the AC work?

Step #8 - Make Selection

Now that you have seen all the homes on your list, you have found that some you favor over others. It may also be that you did not like any of them. That is perfectly fine. You can always go back to your research to relook at other houses. You might also relook for new listings. Make sure that the home you choose fits your needs.

Step #9 - Rental Application & Application Fee

You have made your selection, now you have to put in your application and fee. Since this is your first-time renting, there may be some jargon that you do not understand. The process is easier that you think. You will fill out the application, probably have your credit ran, and then pay the application fee. Yes, they have to pay to check your background and it also makes sure that the candidates applying are actually interested. Thanks to Step #3, you already know if you have good or bad credit. If you do not have credit, they might ask for a guarantor to use their credit and word that you are good for the rent. Once this is done, and the application is submitted it could be an instant acceptance or up to 48 hours depending on the management company.

Step #10 - Sign the Lease Agreement

Congratulations! You are almost ready to move into your home! You have done all the work and it is about to pay off! Make sure that you read your lease very carefully. Signing the lease will make it a binding contract and you will have to adhere to the lease with the terms and conditions. Do not feel that you have to sign the lease right there in front of them. If you are unsure or if something looks suspicious, make sure that you do some more research or even contact a lawyer.


Once you get the keys, do a walk-though as soon as you get into the house. Make sure that you take any pictures of anything that is already broken or not in mint condition. If you see anything that needs to be fixed, make sure that you submit a maintenance request. Make sure that everything you noticed and took pictures of you submit them to the property manager. If you fail to do so, it might result in you having to pay to repair the items when you move out and forfeit your security deposit.


I know that this last step seems scary, but it really is not. You now have a home that you can move into and start a new chapter in your life. The only thing you lack now is moving. This is where I leave, I just sprained my wrist, so unfortunately, I cannot help you there. Just kidding, read our blog on moving or look at our Pinterest board for ideas. 
Oct 22, 2021
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