STEPS TO MAKE SURE AN APARTMENT IS FOR YOU:
MAKE SURE THE PLACE IS AFFORDABLE
Some things to consider:
What is affordable?
The U.S. Department of Housing and Urban Development (HUD) defines affordability as:
A household should not spend more than 30% of its monthly income on their rent and utilities combined.
How do I figure out if it is affordable for me?
Multiply your monthly income by .30, or divide it by 3. The result is the amount of money you can safely spend on rent and utilities per month without getting in over your head.
How can I learn how much the utility bills will be before I move in?
Ask a past occupant or the landlord; they may be able to give you an estimate. Contact the utility companies and give the address of the place. They can give you the average cost the last occupant paid.
MAKE SURE THE LEASE PROTECTS YOUR RIGHTS BEFORE YOU SIGN
Complete the following 3 steps BEFORE you sign the lease to protect your rights.
STEP 1: READ THE LEASE.
Under Kentucky common law, the lease determines your rights.
The landlord writes the lease to protect his or her own rights and money. Read the lease carefully to make sure it protects your rights, too. Otherwise, you may haveNO RIGHTS if a difficult issue arises.Read as much as you can of the “fine print.” After covering the main points, many people don’t take the time to read the entire lease. The more you read, the more you’ll know about what you’re agreeing to do after you sign the lease.
When you read the lease, answer the following questions to make sure you understand the lease agreement.
We’ve created a .pdf of these questions for you to print out and take with you when deciding to sign a lease.