Finding Cheap Apartments in Philadelphia PA: Affordable Apartments

Whether you’ve dealt with searching for apartment buildings in Philadelphia, or it’s your first time. There will always be mixed emotions. Most individuals will experience a sense of excitement along with nervousness. However, if approached correctly, there shouldn’t be any problem finding cheap apartments in Philadelphia PA. The City of Philadelphia has over 413,000 apartments, providing plenty of options. This article will guide you through locating affordable apartments in Philadelphia! 

Options for Cheap Apartments in Philadelphia

When finding a new location to call home, it’s best to be prepared. Additionally, the renter needs to give themselves at least sixty days to find a new place before the last day of their current lease. There are housing options when it comes to apartments. Renters can reside in apartment complexes, multi-unit buildings, or single-family houses. Depending on your needs, such as privacy and noise, parking, and the ability to have pets, would determine which option is best. If you have children or pets, renting a single-family home or a smaller multi-family place like a duplex or triplex will be best. 

Most of the time, tenants will sign a one-year lease with the option of a month-to-month lease following that one-year mark. Having only a one-year commitment gives renters flexibility to review their options each year. Renting an apartment is excellent for individuals new to an area who want to get a feel for the community. It is also a fantastic option for people who don’t like the responsibility of owning a house.

How to Find Cheap Apartments in Philadelphia

There are numerous ways to find apartments in Philadelphia. Furthermore, you can approach the search on your own or hire the services of a Philadelphia real estate agent.

• The internet opens many possibilities when searching for an apartment. Utilize online rental listing platforms such as Apartments.com, HotPads, or Trulia.
• Explore the neighborhood. Drive around the area, looking for apartment complexes or rent signs placed outside the property.
• Word of mouth. Ask your friends or neighbors if they know a private landlord with a unit for rent. As a referral, the tenant and landlord can feel more comfortable with each other due to the mutual connection.
• Similar to online apartment platforms, applications such as the Facebook marketplace or real estate Facebook groups are used, where rental opportunities are often posted.
• Local Newspapers. Since the concept of renting a property from another individual, newspapers like the Philly Inquirer have sections with rental options.

Applying for Apartments in Philadelphia PA

The process of applying for cheap apartments in Philadelphia PA is pretty standard. First, individuals begin the search by listing places to view. The individual or family then conducts walkthroughs and submits an online or paper application. Most places have an application fee to run background checks and credit checks. The application fee is typically $30 but can be waived if the landlord determines it is appropriate.

When the landlord or rental agency conducts a credit check, they also look at your rental history to see if there have been any evictions. An eviction is a profound mark on your rental record; evictions happen when a tenant breaks the lease, most commonly by stopping payment. A landlord must petition the court to remove the tenant from the property.

The landlord may also request financial documents such as W2 forms or weekly pay stubs when processing the application. At times, a cosigner is needed for the individual to get approved. Ensure you understand the agreement terms before signing the lease.

Tips: When Applying for a Rental Home 

• Determine what you can afford. Calculate your monthly expenses and how much income you can use for rent.
• Make a pros and cons list for each rental option. Before looking at cheap apartments in Philadelphia, determine the best environment for you. Some renters need direct access to a yard because they have a dog. Additionally, other renters feel more comfortable in a private setting, such as a single-family house or duplex.
• Narrow down the location to generate your options. Location is key in real estate and determines the property’s value or the rate for rental properties in Philly. Most individuals want to be close to work or nearby stores, parks, or hospitals.
• Conduct thorough research, including reviews. Be careful of slumlords; a slumlord is a property owner or property manager that doesn’t handle issues as they arise or find a way to cut corners.
• Improve your credit score before submitting applications. A credit score of at least 670 is suggested to minimize the hassle while improving your chances of acceptance.
• Consider roommates to lower the cost of rent and utilities.
• Take photos and/or videos of the property before moving items in. Your security deposit is online, and it’s crucial to have documents about the home’s condition before moving in.
• Get renters’ insurance. You will want to protect your items from theft or other damages due to floods or fires. Renters insurance will cover the expense of replacing your items if something happens.

Steps Moving into Cheap Apartments in Philadelphia PA

1. The first step for moving into a Philadelphia apartment would be to review the lease to fully understand your rights and tenant expectations.
2. Be Prepared; preparation is key. Pack your items strategically, use boxes and other resources to stay organized. 
3. Update personal info & transfer the utilities to your name. Change your address with your local DMV, bank, and post office. After changing your personal info, switch all necessary utility bills to your name and account. 
4. Schedule the move-in date. Hire a professional moving company if necessary or ask friends and family to lend a hand. 
5. Inspect the apartment prior to moving any items into the unit. Take photo’s of the current condition to protect yourself from losing the security deposit and potentially getting sued. 
6. Complete the move and enjoy your new home. Get familiar with the neighbors and the community.

How to Avoid Scams When Apartment Hunting

Real estate tends to be a cut throat business, where scammers get creative and succeed. Whether you’re purchasing property or searching for an apartment. It’s vital to protect yourself from falling victim to a real estate scam. Therefore, never send the security deposit or application fee before either meeting the landlord/property manager or verifying their identity.

Most of the time, these real estate scammers would use the internet to post fake apartment listings, requiring money upfront to view the Philadelphia apartment or to apply for the place. Never share your personal info such as your social security number or bank info until you can guarantee you are dealing with the owner or property manager. Therefore, it never hurts to protect yourself, rather be safe then sorry. Utilize the guidance of an agent to avoid the chance of getting scammed when apartment hunting. 

Endless Affordable Apartments in Philadelphia

When the time comes to search for cheap apartments in Philadelphia, don’t feel overwhelmed. Additionally, be prepared by beginning your search at least sixty days before the lease ends. Have your financial statements ready for the application while always being mindful of your credit. There are many ways to find housing, whether by word of mouth or the Internet. Determine your preferred location and start viewing properties within the city.

When viewing your potential housing options, feel free to ask questions. These simple questions will help you better understand the expectations and responsibilities. Before signing the lease, review every aspect of it. Not every tenant has the same needs; list wants and needs within an apartment. The pros/cons list can help eliminate options to ensure you’re in the ideal setting.

Contact a local realtor if you need guidance from a real estate pro. Most of the time, the landlord covers the expense of agents with the first month’s rent. Many apartment complexes and landlords require the first and last month’s rent and a security deposit. So, consider a roommate to minimize monthly expenses. Don’t get overwhelmed; prepare yourself, and always have a secondary plan if your rental application gets denied.