Renting a first apartment is a pricey endeavor. Here's what a typical first-time renter can expect to pay to launch the lease:
- Rental application fee $25-$150 per apartment application
- First month’s rent
- Last month’s rent
- Security deposit — typically the same amount as a month's rent
- A broker’s fee, typically 15% of the annual rent - but note that there are plenty of ways to find an apartment that don't involve a broker.
- Utilities — garbage, gas and electricity, phone, water, high speed internet and cable connections, amounts vary by city and some utilities companies require a hefty deposit to start
- Renters insurance
- Furnishing and outfitting the apartment, from couch and bed to toothpaste and TP.
