Before signing a lease and legally binding yourself to a contract there is a lot to keep in mind. One has to make sure he/she has saved enough money or has the proper income to afford living off-campus. Before signing a lease make sure you read the fine print, know the costs, and are aware of outside expenses.
Keep in mind monthly expenses
- Utilities (Water, Electric, Cable, Internet, etc.)
- Laundry (Depending on where you live)
- Parking (Depending on where you live)
- House Hold needs (cleaning supplies, food etc.)
- When considering the cost of living in college, do not pay too much for rent!
- Rent should not be more than 20%-30% of your monthly income and if it is, you may have chosen a place that is too expensive.
Look out for one time fees
- Installation fees (Internet Router, Cable)
- The turning on of water, electric etc.
- Security Deposit
Money should not be stressful, so here are tips to make sure this does not become a problem!
- Plan Ahead: create a budget so you do not over spend
- Divvy up the expenses between your roommates equally
- Assign one person to collect the money to pay the bill all at one time
- Record you’re spending so you can see exactly where your money is going
Student Money Management Services
Student Money Management Services is a great source and guideline to help you map all out of your expenses. This is located on the official BGSU website.