Entrepreneurs

Infallible tips to rent your first apartment easily


5 min read

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

Opinions expressed by Entrepreneur contributors are their own.


Do you plan to become independent soon and have your own space? With these infallible tips to rent your first apartment you can easily achieve it. The real estate portal Propiedades.com shared how to do it without failing in the attempt.

It starts with a savings phase

Before starting with paperwork and removals, it is important that you create a savings policy. With it, you will generate a sufficient budget to cover the various expenses that you will face in the first months.

To achieve this, Leonardo González, Real Estate analyst at Propiedades.com , mentions that the 50/30/20 rule could help you. The expert explains that with this method you assign spending caps and adjust your habits to incorporate items without generating financial stress.

So you could designate 50 percent of your income for necessary consumption, such as transportation, food, school, clothing, etc. 30 percent to expendable expenses, such as trips to the movies or streaming services. Finally, allocate 20 percent to your savings for your future home.

This exercise will help you determine your ability to pay your monthly rent. According to experts, your rental budget should correspond to 25 and 30 percent of your income. Based on this amount, you will need to take the next step and find the right place according to your needs.

Image: Depositphotos.com

Find the ideal place

To do this, you must first raise your housing needs, considering the following points:

  • Close to places (office, school, etc.)
  • Public transport connection
  • Number of rooms
  • Type of dwelling (house or apartment).

Just as you have to be realistic with your budget, you have to be realistic with what you will need in your new home. Take into account if it is essential that you have state-of-the-art amenities or you can do without them.

When looking for the ideal place to rent, review several options trying not to be more than six. According to Óscar Zárate, Ubiksa’s sales executive, after visiting many properties it is more difficult to make a decision. However, when you have defined what you want, you can easily choose.

Review the data and requirements well

Although it is more advisable to seek the help of a real estate agent to avoid fraud, you can also do it on your own. However, pay close attention to the characteristics of the property, the price and the requirements that they request to rent.

Monica Aranda, Customer Service Manager for the property portal Propiedades.com, indicates that an area of high demand cannot have a price lower than the average for that area. This type of fraud occurs mainly in colonies such as Condesa, Polanco, Rome or Naples. They generally request deposits to visit the property, so pay attention and avoid them.

On the other hand, remember that in Mexico it is important to have a guarantee to rent a property. This person will be the one who guarantees the rent payments in case the tenant cannot cover them. Therefore, you must prove that you own a property.

In case you do not have a trusted person who can act as a guarantee for the rental, there are other alternatives. For example, resorting to a leasing policy that is requested in a surety company; or ask your bank to guarantee your income.

Read your contract and regulations very well

When you have found the ideal place and are about to sign the documents, take your time and read carefully. It does not matter if it takes a long time, it is essential that you carefully review all the points of the contract.

Remember that you are carrying out an important transaction and you will have to fulfill the contract for a certain period of time. Also, check that all the information in it is written correctly and avoid conflicts with your landlord.

The fundamental points that this document must comply with are:

  • Full name of landlord and tenant
  • Address and characteristics of the property
  • Rent amount, term and payment methods
  • Payment compliance guarantees
  • Termination clauses of the contract
  • Additional clauses (pets, automatic renewal, rent increase, etc.)

Now that you have this information, you will be able to find your ideal home to create your own space.

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