A J.C. Hart Apartment Community in Indianapolis, IN

How To Rent An Apartment In Indianapolis

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

Are you getting ready to lease your first apartment? Or maybe it’s been many years since you rented one, and now you’re starting the steps again. Here are some tips on how to rent an apartment in Indianapolis, from figuring out your budget to finding the ideal apartment and completing the application.

How Much Can You Afford?

Open apartment floor plan with connected kitchen and living room.

Your opening step is to figure out your budget. You don’t want to fall in love with a place only to realize it’s completely out of your range. Examine your finances before you tour that incredible two-bedroom with a view of the lake. Here’s some guidance to help you get started.

  • Review your net income - the total you have after taxes - and deduct your current charges (loan payments, credit cards, etc.).
  • Plan for unexpected costs like flat tires and emergency medical care. In general, add 10 percent to your total expenses.
  • Estimate expenses at your new apartment, such as utility bills and groceries. If you’re not sure how to start, go with $250 a month for both.
  • How commonly do you go out? Project your dining and entertainment costs per month.
  • What do you have left? This total is what you can allocate for rent. Now is the time to determine if you might want a roommate.

Picking The Right Apartment In Indianapolis

Fitness center with aerobic and weight training equipment.

Checking out different communities and floor plans can be enjoyable but also demanding of your time. Make certain you allow yourself sufficient time to search around - at least a month or two. Your first step is to figure out which area you want to live in. Do you prefer being close to work or school? Are you trying to find something in the city center or in outlying areas? Is there shopping and nightlife close by? Choosing a specific location will save you a lot of time.

You likely already know how many bedrooms you’ll require, so you may concentrate on selecting your preferred floor plan. Next, you ought to decide what amenities are must-haves. Is a gym or pool mandatory? Do you require a community that welcomes pets? Making these decisions will streamline your search.

What To Expect In The Application Process

Designated dog park at apartment community.

Once you’ve discovered an apartment, you need to conclude the application process. You should be ready with photo identification, documentation of income, and some references. You’ll usually be charged an application fee to cover the cost of credit and background checks. If you need a co-signer, let the leasing agent know at the beginning, as they might not be accepted.

Your application process will typically include the following:

  1. Pay an application fee
  2. Fill out an application form
  3. Prepare for background and credit checks
  4. Sign the agreement

On the actual application form, you should anticipate showing the following information:

  • Phone number, name, email, and present address
  • Your employer and income
  • Previous address(es)
  • Dogs or other pets (if applicable)
  • Contacts in case of emergency
  • References - you may be asked for previous landlords or professional and personal references

Locate The Ideal Apartment At Penrose on Mass Apartments

Finding an apartment in Indianapolis is easy at Penrose on Mass Apartments. We have a wide assortment of amenities and floor plans to match your lifestyle. Arrange a tour to see what we have to offer or dial 317-661-4399 to speak with one of our helpful leasing representatives about how to rent one of our apartments in Indianapolis.