As you transition into adulthood and gain independence, it's important to know about your different housing options and rights. We'll break down both in this article to help you secure your housing with confidence!

College housing

If you're an incoming college student, you may have housing options to choose from. While some colleges may require first-year students to live in residence halls (also known as dorms), some may let students choose where they live throughout their time in school. No matter where you plan to attend college, it's important to understand your school's housing options and requirements ahead of time so you can make your arrangements. Read more about how college housing options work.

Renting an apartment or house

Most young adults rent their houses or apartments. Here are some key terms you should know that will come up during the rental process:

Lease

Your lease is a document you will sign to enter into a rental agreement with your landlord before you move in. It will clearly lay out the cost of your monthly rent and any rules or expectations your landlord has for living there. The length of a lease is how long you have to legally live in a place. For example, if your lease is one year, you can live in that property for one year. If you want to stay longer, you will need to renew your lease. Lease lengths will depend on the property and landlord. 

Tip: Before signing a lease, be sure to read it carefully so you understand all of the terms and conditions. If you have any questions or concerns about the lease, be sure to reach out to your landlord. It's also essential to keep a copy of your lease and any other important documents related to your tenancy in a safe place. 

Additionally, it's essential to budget and be aware of your monthly expenses. You will want to make sure that you can afford all of your living expenses each month, such as rent, utilities, transportation, and groceries. Whether you are attending school or working full-time, housing location is also a key consideration. Be sure to map out how you will get from home to work or school. Are there public transportation options nearby? Is there easy access to parking if you have a car? These are all important factors when choosing a place to rent.

Rent

Rent is the amount of money you will pay each month to live in your house or apartment. This money is typically paid to a landlord or leasing company. 

Utilities

Utilities are additional fees you will need to pay on top of your rent for things such as electricity, water, Wi-Fi, or trash. Some properties may include things like water and trash into the total cost of rent, while others will charge it separately. Most utilities are paid monthly. 

Amenities

Amenities are things tenants have access to in addition to their house or apartment. This includes things like parking, washing machines, and dryers. Some amenities may be free, while others may have an additional cost. 

Landlord 

Your landlord is the person in charge of your building who you will pay rent to each month. They should be your go-to person to contact if you are having any issues with your apartment or need something fixed. 

Rental insurance

Rental insurance can provide protection for your personal belongings in case of theft, fire, or other disasters. Rental insurance can also provide liability coverage in case someone is injured on your property. Some landlords may require you to have rental insurance as a part of your lease agreement. 

Tip: When selecting rental insurance, consider the cost of the premiums and the coverage limits. Make sure to read your policy carefully and understand what is covered and what is not. Some policies may have exclusions for certain types of losses, such as floods or earthquakes, so it's important to assess the risks in your area and consider additional coverage if needed.

Understanding your rights as a renter

As a renter (commonly known as a “tenant”), you have certain rights and protections you should be aware of. (Find your tenant rights by state here.) For example, landlords are legally required to provide safe and habitable living conditions for their tenants. If you notice any safety hazards or maintenance issues in your rental unit, be sure to report them to your landlord as soon as possible.

Additionally, landlords are not allowed to discriminate against tenants based on their race, gender, religion, or other protected categories. If you feel that you have been discriminated against, you can file a complaint with the U.S. Department of Housing and Urban Development (HUD) and your local city or state government. Your city may also have more renter protections, so it's important to research what additional rights you may have in your area. 

Have any questions about your housing options or rights as a young adult? Text #Hello to 33-55-77 to chat with one of our advisors. If you're using a mobile device, click here to have the text message set up for you!