not your parents basement: life after graduation
TRANSCRIPT
Not Your Parents Basement: Life After Graduation
Cheri Moreau, Property Manager, J.C. Hart Company
• Who is Cheri? 7 years experience in multi-family property management with a specific background in interior design – *including J.C. Hart’s Property Manager of the Year in 2012*
• J.C. Hart has 21 communities with over 6,000 units (and counting!)
• Communities located in: Indianapolis, Carmel, Westfield, Noblesville, Fishers, Avon, West Lafayette, and Bloomington
• 6 prestigious 2014 Midwest Multi-family awards, including Property Management Company of the Year in Indiana as well as Carmel business of the year
Who is J.C. H
art?
$Price$: What will my new apartment cost me?
Income (to) Rent Ratio: 2.5x your rent Example: $1000/mo.
rent you’d need your GROSS income to be $2500/mo.
40% of your income will be spent on housing
Resident typically pays all utilities Best guess: ~$200/mo.
Most asked question when setting up utilities???
Location, Location, Location…
Location, Location, Location… Westfield named
#18 city in Time’s Money.com 2013 Best Places to Live in America (#1 in Indiana)
You can shop from your parents LazyBoy…so you can *LEAVE* your parents LazyBoy. Example: J.C. Hart’s
Find a Home
Renters Insurance:
How much does insurance cost???
Requirements (typically): $100,000 general liability over at least $10,000 personal property
What is general liability? Example: Woman parks in
kitchen Example: Best friend trips
on stairs and sues you
S P A C E…
Don’t get drunk on square footage
$6,864 400
Oh and FYI…
Things you could buy with $6,864…
2,428 bottles of Ketchup
A savings of $2,882.88 on interest alone on your Sallie Mae Navient student loans
190 Honey Oak TV Dinner tray sets (for your parents basement of course)
That
How does an apartment lease work?
Step 1: Application process #1 criteria: credit
worthiness Hurdle: ‘thin credit’ (not
bad) so typically a larger deposit or co-signer is required
Step 2: Lease process Proof of income Proof of insurance Setup utilities in your name Determine length of lease
Step 3: Get your John Hancock on
Oh By The Way…
• The lease contract is a legal binding document between you (not your girlfriend, your best friend, your parents, your dog, or that hottie you just swiped on Tinder) and the apartment community / management company
• If you break your lease, there are lease termination fees
• If you want to ‘add’ a roommate, they will be submitted to the same process (and must qualify) that you were submitted to
• Most apartment communities have pet policies…so be prepared if Lassie is coming along
• This entire process, lease contract, and any lease violations will be a part of your credit report/rental history
If you have any questions…
Find this presentation: http://www.slideshare.net/cheripurduetalk
Cheri MoreauEmail: [email protected]: (317) 804 – 2669Union Street Flats http://homeisunionstreetflats.com
One last thing…
Mention Not Your Parents Basement at Union Street Flats by July 1st and receive half off your application fee.*$125 savings*