Money Management Center hosts apartment workshop

Money Management Center hosts apartment workshop

Money Management Center hosts apartment workshop
October 10
08:10 2013

Race Hochdorf / Intern Writer

Instructors from the Student Money Management Center talked to students about effective ways to hunt for the right apartment at 3 p.m. yesterday in Sage Hall.

The instructors, financial coaches Bryttnie Jones and Britney Karlin, said their goal was to help students know what to look for in an apartment. About 40 students packed the small classroom to hear the instructors speak – a turnout Karlin said was “incredible.”

“We have these sorts of presentations all of the time,” Jones said. “They are always of great benefit, even if you don’t need an apartment right now. It’s always nice to have the knowledge in case someday you do need one.”

The financial coaches emphasized compiling a list of  “do’s and dont’s” when searching for an apartment:

Do:

  • Make a list of apartments you want to see, but don’t get your hopes and expectations up about one apartment so badly that you overlook possible issues. Check for issues like mold, water spots, etc. before signing a lease.
  • Read the lease. Many apartment managers will watch you while you read the lease in an effort to make you feel rushed. Take your time to understand the terms to which you are agreeing.
  • Research on the surrounding area.
  • Check to see if an apartment fits your needs. If you cook a lot, maybe it is worth paying $200 extra for new ovens or a big kitchen. However if you don’t cook a lot, perhaps the expense is worth foregoing. Consider whether or not you’re willing to pay extra for a swimming pool or gym in your apartment complex, or whether it would be cheaper to sign up at the campus recreation center.

Don’t:

  • Fall for easy sale schemes. It is important to know exactly what you want out of an apartment before you search for one, to avoid dubious salesmen. Make it clear to salesmen the problems you are not willing to overlook and the “must haves” you require for a residence.

But above all, Jones stresses budget.  She said it’s important to budget before deciding on an apartment. You should factor in how much you are able to spend, how much you need for a “safety cushion,” as well as for food, social activity and gas.

“The information that they’ve given me, particularly a sheet of paper showing me how to budget for apartments, I feel will help me find the place I need,” pre-business freshman Robin Kelley said.

The next Money Management conference will be at 5 p.m. Oct. 15 in room 140 of the Business Leadership Building.

Masters student Bryttnie Jones (left) and Marketing senior Britney Karlin (right) both held a seminar that intended to teach students the basics of leasing their first apartment. The event was sponsored by the Student Money Management Center, located in Chestnut Hall, Suite 313. Feature photo by Aidan Barrett / Senior Staff Photographer

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