Moving Costs For Renters

Moving can be an expensive undertaking. If you are currently renting and are looking to rent a new place, there are a few things to keep in mind. Some property managers require the payment of an application fee to cover the cost of a credit check. This will vary in amount but can be approximately $50 in some cases. Then you will need to pay the first months rent on the new place when the lease is signed, so taking into consideration an overlap between paying rent on your old place and your new place may occur. As a general rule, when it comes to determining how much you can afford in the rental market, a good rule of thumb is to say no more than one third of your income. Having said that, if you dont think you can afford to spend one third on rent then dont. A security deposit will be needed for your new place, but if you are a good tenant you shouldnt have any problems at all getting your current security deposit back from your old landlord. Then of course there are the physical costs of moving. Theres not only the cost of hiring a removalist but also the associated costs of packing. Source: