According to the reports of Census ACS, there were about 35.35 percent of renter households in 2019 in Anchorage. The total number of renter-occupied housing units is 41,200, while homeowner-occupied housing units are 65,367. Moreover, with significant job growth since 2021, renting properties has become a popular choice in Anchorage. So, when browsing property rental listings in Anchorage, AK, you need to have a clear idea about various factors pertinent to renting. So, before you sign the lease, consider the following factors.
Research the neighborhood
You should choose a property with easy access to schools, offices, restaurants, community parks, grocery stores, and public transportation. Hence, do research regarding the neighborhood of your choice to find properties with amenities that fit your needs and make it convenient to live in. Don’t forget to check the crime statistics of the region so that you are sure about the safety.
Check the lease term
Anchorage has some extra landlord-tenant regulations apart from those mandated by the state. So, it is crucial to go through the lease term thoroughly before signing the lease. It is even better to get an attorney to look over the term to ensure that you get a fair deal. Be mindful about examining clauses and rules regarding upkeep and maintenance, pet policies, way of paying rents, and guidelines associated with breaking the lease. Also, you need to have clarity regarding the terms and conditions if you want to sublet the property or get the security deposit back.
Inspect the property
Before putting a security deposit to the lender, you must document any pre-existing damage to the property. Take photos and submit them to the lender as proof. You may also ask for a move-in/move-out checklist. The checklist will help you know about the specific features the landlord will examine before you start using the property and if there is any damage as your tenure ends. It is helpful for the landlord to understand the damages caused. At the same time, the tenant will also be protected from paying extra charges for the damages already present.
Get an estimate of average rents
Anchorage has a steady population growth and a strong job market. These factors have resulted in rent growth in the region. Rent growth means that the demand for rental property is higher than its supply. So, while looking at property rental listings in Anchorage, AK, be prepared to pay an average rent of at least $1208 per month. In some of the neighborhoods in Anchorage, like Bayshore West or Concord Hill, the average rent could be up to $1631 per month. However, you may also get some affordable neighborhoods like the Alaska Industrial, Merrill Field, or Eastchester, where the average rent is $1016 per month.
Avail a renters insurance
You may not know what will happen as you move to your new home. Even after doing all the research, you may face unexpected mishaps. So, getting renters insurance is the best thing to do at this time. The average cost of renters insurance in the state of Alaska is about $23 per month. The renters’ insurance will provide coverage to replace items in case of theft, fire, or damage to personal property like clothes, jewelry, or furniture.
Finding a rental property that meets your needs is rarely easy. But, considering the points discussed above, you can make it simpler and have a smooth and hassle-free renting experience.