Happy Groundhog Day! Every year on February 2, crowds gather in Punxsutawney, Pennsylvania to watch as the town’s revered groundhog, Punxsutawney Phil, predicts the weather for the next six weeks (and we all cross our fingers that Phil doesn’t see his shadow). According to CBS News, Phil had an accuracy rate of 36% between 2013 and 2023.
But Groundhog Day has earned another meaning in the past three decades. In the 1993 movie “Groundhog Day” starring Bill Murray and Andie MacDowell, Bill Murray’s character, Phil, enters a time loop and relives February 2 over and over. Groundhog Day has since taken on the colloquial meaning of repetition and déjà vu.
When it comes to renting an apartment, there are some things you wouldn’t want to relive. We surveyed 50 randomly selected renters on their first-time renting experiences and compiled a list of five lessons they learned the hard way. Here’s how they answered the following question: “If you could go back in time and give yourself advice before signing your first lease, what would you say?”
“Read through the terms and conditions well”
It may seem obvious, but make sure you read the lease thoroughly and understand the policies before you sign it. A lease is a legally binding contract that can come back to haunt you if you’re not careful.
One participant described two situations in which they wished they had read the lease more carefully: “In my first apartment, I assumed the landlord would handle all maintenance, but when a plumbing issue arose, I discovered the lease required me to pay for ‘minor repairs.’ Another time, I didn’t realize there was a hefty early termination fee until I needed to relocate for work.”
Several participants stressed the importance of understanding the stipulations of getting your safety deposit back. One participant said to “take pictures of the condition of the place” before you move in, so you have proof of any pre-existing damage. Doing a walk-through with the property manager and taking photos of your unit before you move in can help you avoid getting charged for damages that aren’t your fault.
Read the fine print and take note of the property manager’s policies around lease renewal, lease termination, maintenance, fees, and deposits. If you’re confused about something, another respondent said, “Don’t be afraid to ask questions.”
“Do more research”
Signing a lease is a big deal—it’s a financial and locational commitment. Several survey participants said they wished they had taken the time to research the area and the going rates for rentals before signing the lease for their first apartment.
One respondent said, “Make sure you understand the neighborhood and the neighbors you are moving in next to.” Your neighbors and the area surrounding your rental can make or break your experience in your new home. Read through the reviews for an apartment community to get the inside scoop, but keep in mind that reviews for a rental often lean toward extremes.
Another respondent said they’d tell their prior self to “do more research in prices” and suggested looking into multiple areas: “I didn’t need to specifically look into prices for just one area.”
“Learn how to budget”
Learning to budget is crucial before moving into your own place. One respondent said they would tell their prior self to “Live within your means.” Regardless of your income, you can find a place that works for you if you put in the work to build a budget.
There are several ways to budget for an apartment, but the 50/30/20 rule is a good framework to follow if you’re just starting out. The 50/30/20 rule says that 50% of your income should go toward essential expenses like rent, groceries, and transportation, 30% should go to non-essential expenses like hangouts with friends or new décor, and the remaining 20% should go into savings. Try our rent calculator tool to find out how much you should pay for rent based on your monthly pre-tax income.
If you’re working with a small budget, don’t fret! You can find the right place by prioritizing the most important features in your apartment search. Apartments.com has customizable filters that can help you narrow your search to rentals within your budget that have the amenities and features you need.
One respondent who struggled with a small budget and no credit history said they were proud of how they found a rental within their budget: “I was willing to make smaller sacrifices to find a place that would accept me as long as the important things were in my criteria.”
“Double check who you’re rooming with”
While renting with roommates can be a fun way to save money, picking good roommates can be challenging. Living with a friend often goes one of two ways: you and your friend are closer than ever OR you and your friend block each other on everything after the lease is up.
One participant said, “Don’t rent with a friend based solely on the friendship.” Before signing a lease with a friend, consider the logistics of what it would be like to live with them as well as how you get along. How often do each of you clean? Are you both neat freaks, or are you okay with a little clutter? Do your interior design styles mesh?
If possible, have sleepovers at each other’s places to get a better picture of what it would be like to live together. Look at their place critically and consider whether your lifestyles and cleaning habits match up.
“Take your time”
Several renters said they were on a time crunch when looking for a place and rushed into signing a lease. When you need to move within a specific time frame, it can be tempting to go with the first option that comes your way, but several respondents said they wish they had explored their options.
One respondent said, “Don’t sign the first option, shop around.” Another said, “Be open to check[ing] more units and don’t be in a haste when looking for an apartment.” Looking for the right rental within your budget takes time, but it’s worth it to find a place you love.
Navigating the rental process for the first time can be difficult, and you may not know what to look out for. By taking time to research rentals, build a budget, and read the fine print, you can set yourself up for success in your new home. And when all else fails, take the advice of one of our survey respondents: “Get advice from someone who has done it before first.”
Don’t repeat your mistakes like Phil from “Groundhog Day." Learn from seasoned renters' mistakes and make sure Groundhog Day stays just the second day of February.
