Many landlords or property managers may also require that you pay rent for the last month, as well, prior to moving in. When moving in, you'll have to pay the first month's rent. Here's a list of all the upfront costs and expenses your apartment savings fund should include and cover: First month's rent and last month's rent Rent money is just the tip of the iceberg regarding apartment costs. Why do you need to save money before renting an apartment? Here are all the costs you need to budget and save for before renting an apartment and how much you should save. So, how much do you actually need to save toward renting an apartment before moving in? You want to save enough money to cover all costs involved in renting an apartment, as well as standard, day-to-day living expenses. But, you'll also encounter unexpected costs or hidden fees during this process, like move-in costs or needing new furniture.Īll the costs involved can stack up quickly, ballooning well past just the cost of the rent. Some, like monthly rent and the security deposit, are immediately obvious and expected. There are a lot of costs and fees associated with renting an apartment. Moving into a new apartment is exciting but also expensive. You can also request this bill comparison by mail.Along with rent and deposits, there are lots of things you'll have to save for when renting an apartment. Ameren customers who want more detail will be able to find an online breakdown of how much electricity they used and the rate they paid each hour over that period, at On the website, you can also view a comparison of what you would have paid under your utility’s standard rates versus what you paid in the power-smart pricing program. Your bill will include the number of kilowatt-hours you used over the course of the billing period and a total cost for that electricity. Remember, under hourly pricing, you could be charged a vastly different rate for each hour of electricity usage over the course of a month. That fixed charge, which all electric customers pay, covers the costs associated with such tasks as meter reading and testing the meter equipment.)Īlso, you won’t pay Ameren’s standard per-kilowatt-hour electricity rate. (This charge is in addition to the “meter charge” already on your bill. First, your monthly bill will have the $2.25 monthly “meter lease” fee added to it. You will pay all the charges on your electric bill now, with two differences. If the company’s probe alleges that there has been a “tap” on the pipes or wires-meaning somebody is stealing your gas or electricity-the utility will attempt to ask the landlord to remove it immediately and determine who benefited from the tap. Remember, for any suspiciously high bills, the company is obligated to investigate within 30 days. The utility is not obligated to correct the problem and will hold you responsible for the charges, so use the letter to pursue your landlord to fix the matter and give you compensation. If the company finds something wrong, ask it to send you a letter confirming the problem. Also, it’s your right to ask the gas or electric utility to trace your lines to determine if you’re paying for utility service in an additional apartment or any other area that isn’t your responsibility. Turn off all your electric appliances and then find your meter and check if it’s still running. If your electric bill seems too high, you can try your own test. For example, renters are sometimes inappropriately charged for utility costs connected to the laundry room, outside lights, and even the building’s hot water heater. Make sure you aren’t being charged for more than what you agreed to. Read the lease carefully to see what utilities you are responsible for paying.
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