The Unexpected Costs of Moving
Moving to a new apartment comes with quite a few costs and fees attached. Of course, you already know you’ll be expected to pay the first month’s rent up front. In many situations, you’ll also need the last month’s rent as well as a security deposit. In the case of a second chance apartment leasing situation, there may be a few more costs like settling up with past landlords. That being said, if you only plan for these fees you may find yourself with a not-so-pleasant surprise.
There are a few costs associated with moving that may come unexpected to you. Let’s fix that right now:
#1 Application Fees
When applying to rent a new apartment in Dallas, you’ll find that the most landlords and property managers require potential tenants to pay an application fee. The application fee typically covers the cost of a background and credit check. They want to make sure you’ll be a reliable tenant, paying your rent on time, before they approve you. Application fees vary, anywhere from $20 to $50 or even a few hundred dollars in luxury buildings. Application fees are nonrefundable, so you’ll want to work with one of our credit experts to make sure you’ll be approved before you submit yours.
#2 Moving Costs
You can expect your first major expense once you are approved to be your moving costs. Your stuff isn’t just going to get up and walk to your new apartment! The cost of boxes and plastic storage bins, as well as the movers to lift the heavy stuff can add up quickly. Your move may require you to rent a truck for the day, plus gas. If you hire a moving company, you might be looking at a few hundred dollars or more. If you’re tempted to skip this cost, know what carrying a couch down three floors, driving it across town, and then back up to a new apartment isn’t nearly as easy as it sounds.
#3 Utility Deposits
You will have to put down a deposit on utility services to activate them for the new rental. These payments are meant to insure the company against losses for things like unpaid bills or a sudden eviction from the property. A typical utility deposit can range from $100 to nearly $300. In some cases, the cost is calculated from your credit score and past utility payment history. You will get this down payment back eventually, either when you terminate your account once the lease is over or after a certain amount of time paying your bills on time.
When you work with an expert, we can better help you prepare for the reality of moving. Beyond just your rent, we will also make sure you know what other unexpected bills might be hiding so that you can be as prepared as possible. Creative Realty is here to help!