Article | PlanMyWallet

When calculating your rental budget, don't forget these often-overlooked costs that can significantly impact your monthly expenses:

Security Deposits

Most landlords require a security deposit equal to one or two months' rent. This money is held until you move out and may not be fully refunded.

Many landlords charge $25-$100 per application for background and credit checks, even if you're not approved.

If you have pets, expect additional deposits ($200-$500) and monthly pet rent ($25-$100 per pet).

While some rentals include utilities, others require you to pay for electricity, gas, water, internet, and cable separately.

Protect your belongings with renters insurance, typically costing $15-$30 per month for basic coverage.

In urban areas, parking can cost $50-$300+ per month, especially in high-demand locations.

Don't forget moving expenses, including truck rental, movers, and utility setup fees.

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