Tips for renting your first apartment

If you're kickstarting your career in 2022, you're likely thinking about taking a leap of independence and renting your own apartment for the first time. The CSi Property Group takes a look at how much you can afford to be spending on rent, how to find the right apartment and strategies for getting settled. We also take a look at how to protect yourself if you're going to be renting a room in a house or a flat, or renting a house with friends.

How much can I afford to spend on rent?

As a rule of thumb, you should be spending no more than 30% of your take-home pay on rent. Take-home pay refers to the salary that you receive after tax and UIF have been deducted. If you're employed by a company (and not self-employed) this means that up to 30% of the amount that lands in your bank account at the end of the month can be spent on rent. You'll be considered an especially low-risk tenant if you're spending less than 30% of your take-home pay on rent. That means that if you're clearing R15 000 per month, a maximum of R5 000 should be going towards rent. These numbers may seem intimidating, which is why lots of young people consider house-share and flat-share arrangements - more on this later.

Finding the right apartment

Over and above the cost of rent, there are a few other factors that you should think about when choosing your future home. Firstly, with the price of petrol, is the area you're looking at close enough to your work to be practical? Depending on your circumstances, it might be worth paying slightly more in rent to find a home that's close to work. If you enjoy nightlife, making sure that you live close to where you socialise will make Uber rides home much more affordable when necessary.

After you've decided on an area that you want to live in, the next thing to think about is what your needs are. Does your apartment need to be pet friendly? If you're working from home, will you need office space?

It's also important to make sure the block you're going to be renting in has reasonable security and is well maintained. Once you've found the right spot, make sure you get an opportunity to do an inspection and point out anything that needs repairing to the landlord or letting agent. You will also need to open a utilities account if the apartment does not have prepaid water and electricity.

Getting settled in your new apartment

So you've found your new home and moved in - congratulations! There are bound to be things that you need, and with a limited budget, you'll need to do some prioritising. A kettle, toaster and microwave are top on the list of kitchen priorities and if your laptop needs to be your TV for a while, then so be it. Once you've unpacked the essentials, you can consider things like where the best position for your couch is and how you can personalise the space to make it feel like home.

Things to think about if you're house-sharing

If you've decided to cut costs by sharing a house or a flat with friends, make sure this is done the smart way by insisting that everybody signs an official lease document. Having a lease gives you rights and protection if your friends' plans should change. On a similar note, there are major advantages to renting through an official agency. Avoid renting from landlords who advertise their properties on Gumtree or social media - the only way to know what you're getting into is to use a reputable real estate agent.

The CSi Property Group specialises in finding people their ideal rental home. If you're ready for your own space, contact us today and let us help you find your first home of your own.