Apartment Insurance

Recently, a friend of mine moved to low income apartments. He was able to get in because of his low income status. One thing I noticed about these apartments is that there is a high crime rate even though the apartment complex itself looks fairly nice. In fact, at his particular complex there were numerous apartment break-ins. I checked up the reviews on an apartment reviewing website and noticed that break-ins was a common occurence. I told my friend that he should be careful of his property. I also suggested that he get some rental insurance. Rental insurance is pretty cheap and it can protect you from loss occurring from theft and natural disasters. He thought it was a good idea and went with my suggestion since it did not cost him much anyways.

He checked online and found a website where he could compare insurance rates. It was so easy for him to compare the rates and he found the insurance that he wanted. About a month later after he bought the insurance, his apartment was broken into. The thief had stolen his flat screen TV, mp3 player, and laptop. The total loss was about 1000 dollars. The insurance covered most of the costs. He told me that he was really thankful to have bought the insurance. Without it, he would be in the hole right now.

Income Restricted Apartments

Income restricted apartments are apartments that require potential renter's to have a yearly income between a certain level. For example, they could request that your income be between $20,000 to $30,000 per year. These numbers could be different depending on where you live. The reason owners of income restricted apartments for rent restrict income is because that way they can get tax benefits. Most people that live in income restricted apartments are people making a low income and students.

You can usually tell if an apartment is income restricted by their rent. If the rent seems much lower than average then most likely it's income restricted. To be sure, you can call them up and ask. You can find these apartments by going online to one of those apartment search sites and looking particularly for apartments that have the lowest rent. Another tip off that the apartments are rent restricted is if the pictures of the apartments look really nice and the rent is well below the market average.

Another way to find low income apartments is by going to apartment finders. These are full service businesses that connect apartments with renters. The apartment finders get a commission if people that they referred sign a lease so you can use their service for free. Just tell them that you are specifically looking for income restricted apartments and they'll help you find those.

Once you've found a income restricted apartment, you have to show proof that your income is within their restrictions. To do this, provide to them your most recent pay stub. For students, you may have to ask the school to write a letter stating what your income is. If your income happens to fall below the minimum income requirement, you can show proof that you get additional income from your parents or whoever else is supporting you. Grants and scholarships that you got can also be added into the income restriction requirement. After you provide proof then everything else should be the as applying for any other apartment.