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How Much Rent Can You Afford to Pay?

If you think you might be ready to rent your first apartment or move out of your current rental, you should take a closer look at your income, liabilities, and monthly expenses before you contact a property management company. When you watch this video, you’ll hear a financial advisor explain that renters should aim to spend no more than 40% of their net monthly pay on their housing.

However, rent isn’t the only expense you’ll have. The rental property management company will let you know if utilities are included or not. Consider whether you can expect to pay for trash pickup and other services before deciding if you can afford a particular home.

If you’re looking for a new home, you can browse the listings at MRS Property Management—a premier residential property management company near Beverly, MA. Renters and property owners are invited to inquire about our property management services at 978-927-3690.

Categories: Rentals