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How To Rent An Apartment In Indianapolis

August 30, 2023
Exterior of multi-level apartment building with attached garage.

Getting ready to rent your first apartment? Or maybe it’s been several years since you leased one, and now you’re going through the process again. Here are some recommendations on how to rent an apartment in Indianapolis, from figuring out what you can afford to selecting the right apartment and submitting the application.

What Is Your Budget?

Open apartment floor plan with connected kitchen and living room.

Your initial task is to decide what you can pay. You don’t want to fall in love with a place only to realize it’s not feasible from a budgetary standpoint. Consider your income before you look at that fantastic two-bedroom with a view. Here are some recommendations to help you get started.

  • Look at your net income - the total you have after taxes - and deduct your current expenses (credit cards, car payments, etc.).
  • Anticipate unforeseen charges like flat tires and emergency medical care. As a general rule, add 10 percent to your current bill amount.
  • Forecast expenses at your new unit, such as groceries and utilities. If you need a place to start, go with $250 per month for each one.
  • How frequently do you go out? Approximate your entertainment and dining costs per month.
  • What do you have remaining? This amount is what you can apply toward rent. This is a great time to figure out if you’ll need a roommate.

Finding The Right Apartment In Indianapolis

Fitness center with aerobic and weight training equipment.

Checking out different communities and floor plans can be fun but also demanding of your time. Make certain you give yourself ample time to look - at least a couple months. Your first step is to decide on your preferred location. How close do you wish to be to your job or school? Are you trying to find something downtown or in outlying areas? Is there entertainment and shopping nearby? Knowing the location will will be of great benefit.

You probably have a good idea of the number of bedrooms you’ll require, so you can focus on selecting your preferred floor plan. At the same time, you ought to think about what amenities are must-haves. Is a gym or swimming pool essential? Do you require a community that welcomes pets? Answering these types of questions will streamline your search.

What To Expect In The Application Process

Designated dog park at apartment community.

After you’ve found an apartment, you need to conclude the application process. You’ll want to be prepared with photo identification, documentation of income, and a list of references. You’ll typically have to pay an application fee to offset the cost of background and credit checks. If you intend to use a co-signer, ask about them early in the process, as they might not be accepted.

Your application process will typically involve the following:

  1. Pay an application fee
  2. Submit an application form
  3. Prepare for background and credit checks
  4. Sign the contract

On the actual application form, you can expect to provide the following information:

  • Name, email, phone number, and current address
  • Employment and income
  • Prior address(es)
  • Animals (if applicable)
  • Who to call in case of emergency
  • References - you may be asked for previous landlords or work and personal references

Come Home To The Ideal Apartment At The Edge Apartments

Renting an apartment in Indianapolis is simple at The Edge Apartments. We offer a wide assortment of amenities and floor plans to accommodate your lifestyle. Request a tour to explore what we have to offer or reach out to 463-345-4399 to speak with one of our helpful leasing specialists about how to rent one of our apartments in Indianapolis.