Apartment Living Blog | Prospect Hall Apartments

Budgeting Tips for First-Time Renters

Just got the keys to your first apartment? Congratulations! Now comes the hard part - paying your rent. In all seriousness, the property management company wouldn't have accepted your application if they didn't think you were a good prospective tenant who could make the monthly payments. So, in theory, you shouldn't have anything to worry about. But, since you're new to the world of renting, there's a good chance you're in need of some budgeting tips to get you on the right path. After all, managing your money well enough to make sure you never miss a rent payment can take a lot more self-discipline than you might be used to. Keep reading to find out some of our best apartment budgeting tricks for new renters. 1. Always Pay Your Rent First Make this your golden rule and you're off to a good start. Your rent will likely be your biggest expense so it's wise to budget for this first. The best way to do that is to make a point of paying your rent as soon as you get your paycheck. While we wouldn't say that other bills aren't important, paying rent should be your top priority since it secures the roof over your head for another month. With that taken care of, meeting your other financial obligations should be a lot easier as you'll have a better idea of how much money you have to work with. 2. Transfer Your Rent Money to a Separate Account Depending on when your payday is or how many you have per month, it's not always easy or even possible to sync up your paycheck and monthly rent payments. If this is the case, look into the possibility of opening up a separate account for paying bills. This practice is especially helpful if you get paid every week, every two weeks, or if you’re a freelancer or small business owner without a set payday. But it's also a good idea if you share the rent with someone else or you just need the extra discipline of a separate account. By setting aside the correct proportion of each paycheck to cover your monthly rent, paying rent on time will be a lot easier. And, while this account could be for rent payments only, you could use it to pay for all your recurring bills, from your internet provider to your insurance premiums. 3. Set Up Automatic Rent Payments It's all well and good having a separate account for paying the rent and other expenses. But, if you have to remember to make transfers every month, it's easy to let bills slip through the cracks. Setting up automatic payments is a convenient way to avoid ever missing a payment. It's also secure and can even help to improve your credit score. But, most important of all, you don't run the risk of incurring late fees and throwing off your budget as a result. 4. Check Your Past Outgoings Before you set up your first apartment budget, it's a good idea to look back at your past outgoings. Seeing what you used to spend money on in black and white is a great way to get a handle on your future finances. After all, before paying rent was a priority we bet you didn't think twice about getting coffee to go every morning or splashing out on designer sneakers. Now, while you might still be able to afford these extras, you're going to need to budget for them first. Start by going back over old bank statements and credit card bills and try to think back to any cash payments you've made or make on a regular basis. Write all this spending down and categorize your spending into categories such as “entertainment,” “food,” or “personal care” and calculate the totals. With all your previous outgoings accounted for, learning how to budget should be a lot easier. 5. Make a Budget...and Stick to It With a better idea of your finances, it's time to set your first apartment budget. To start, set aside an amount for your fixed expenses such as rent and utilities. You may be able to adjust some payments in the future, but for now, you need to budget for your current situation. Next, you should look at working out how much you need to cover other expenses, such as food, transport, and clothes. For these kinds of ongoing expenses, it's often more helpful to set weekly budgets as you're unlikely to only buy gas or food once a month. Another bonus of setting weekly budgets is that you'll have to wait to buy anything more expensive, such as an item of clothing. Often, delaying the purchase can make you think twice about whether you really want it and save you money in the long run. Using an online app such as Every Dollar or YNAB can help you visualize and track your budget and spending. 6. Find Ways to Save on Utilities With a preliminary budget in place, you'll have a much better idea of how far your money will stretch each month. You might also find that some bills are more expensive than you'd anticipated. The good news is, while your monthly rent is a fixed amount, your other bills aren't set in stone. Take a look at the utilities and other fees you pay out every month and consider whether you could reduce these costs to best deflect the cost of your rent. Some ways to keep your utility bills down include changing regular light bulbs for energy-efficient bulbs and adjusting the temperature setting on your thermostat by just a few degrees. You should also buy blinds for all your windows. These will help you block out heat during summer and trap heat in during winter, making it easier to cut down on AC and heating costs. 7. Cut Back on Unnecessary Expenses Apartment budgeting doesn't have to mean the end of treating yourself to small luxuries. But it does mean being more mindful about your spending habits, as well as investigating possible cost-effective alternatives. Start by considering how much value you get from certain subscriptions and memberships. Depending on the onsite amenities in your new apartment community, you may be able to cancel your gym subscription and use the apartment gym for free. Likewise, you might have access to free onsite parking, extra storage space, or even entertainment facilities such as a billiards room or an outdoor dining area. With this in mind, you could rethink the way you socialize with friends, move your belongings out of storage, and maybe even save money on your car insurance if you were previously covered for overnight on-street parking. And, even if your apartment doesn't have these amenities, there are ways to cut back. For example, instead of paying out for several streaming services, consider which you use the most and cancel the rest. Or, if you only go to the gym on weekends, find out if you can change your membership to a cheaper weekend-only membership. 8. Pay with Cash One of the simplest yet effective budgeting tricks is to pay with cash. Yes, we know that only 41 percent of Americans carry cash on them these days and that paying by cash is seen as inconvenient. But the real issue here is that paying by card is too convenient. Swiping a card doesn't give you the same emotional response that physically handing over cash creates. Small car payments are easy to lose track of. But, as you might have seen when you looked back at your old outgoings, a dollar here and a dollar there can soon add up. The best way to stick to a budget is to take out a set amount each week to pay for everything and avoid using cards as much as possible. As well as making it easier to keep track of your outgoings, you can't spend what you don't have so it's much less likely you'll go over your budget! 9. Shop Around When it comes to sticking to your budget and making the cash you have go further, shopping around can save you a lot of money. Your food bill is likely to be one of your biggest expenses after rent. But you can save money by collecting coupons, picking up in-store promo leaflets, downloading supermarket apps, and cherry-picking the best offers. Bulk buy non-perishable items like toilet paper, cleaning products, and toiletries, and take advantage of special offers on these items, as well as on canned and frozen foods. You should also reassess how you buy fresh food and whether buying smaller packs could help you avoid waste. Or, better yet, start cooking in batches and freeze food. Having home-cooked meals ready to go saves you from having to cook every night, plus you'll be less inclined to blow your first apartment budget on takeout. Don't be afraid to shop around when it comes to other expenses too. For example, instead of letting your insurances renew, ask if your company can reduce your premiums and find somewhere cheaper if not. Budgeting Tips for Renters As these helpful budgeting tips show, learning how to budget involves a lot of organization and prioritization. But first, you need to face your finances to ensure that paying rent on time every month won't be a problem. Yes, can seem overwhelming when you see everything down on paper and have to make the numbers work. But knowledge is power, and knowing where your money goes each month as well as how to stretch it further makes apartment budgeting a lot easier. For more information or to schedule a tour, feel free to contact us today!

A Touch of Color: How to Add Color to Your Apartment

Are you looking to freshen up your apartment but are struggling with ways to spruce it up? Add some color! There are a variety of ways you can add color to your space to create a fresh new dynamic. Even better, all of these methods are fairly affordable and don't require the labor that painting does. When it's time to move out, you can take these items with you to your next home. Read on to learn all about adding color to your apartment to truly make it your own! Just Ask If you want to paint the walls but aren't sure if you can, we recommend you just ask your landlord or apartment management. It's important that you already know what color you want to paint the walls and which walls you want to paint. If your landlord is reluctant, remember that you can also offer to repaint the walls when it's time for you to move out. Just be sure that you get the original paint color that they used. Hang a Tapestry If your landlord won't allow it or you really just don't want to paint, hang a tapestry! They come in all shapes, sizes, colors, and designs. Although many people think of bohemian designs when they heard the word "tapestry," they're able to match any aesthetic. For instance, Society6 is known for its independent artists that provide quirky, modern, and colorful art for tapestries. Colorful Rugs Although many people concern themselves with the color of the walls, the color of the floor is just as important. When you invest in a big and colorful rug, this can often inform the rest of the decor in your apartment. For instance, it may inspire you to purchase furniture that's just as colorful. You also have the option of taking a minimalist approach so that the room doesn't feel too chaotic. If you already purchased a lot of furniture and decor before purchasing a rug, focus on finding a rug that has similar colors as the rest of your decor. Colorful Furniture When you look in your living room, the largest piece of furniture in the space is probably your couch. Your armchairs are probably next. With this in mind, if you want a way to add instant color and a modern touch to your space, purchase a couch with a bold color. Couches are often different shades of tan, gray, and black. Break the mold and go for a dark green, dark blue, or even a pink or red. You'll immediately have a fun and funky focal piece. A few neutral accent pillows can help balance the intensity. Create a Gallery Wall If there's a large, blank wall in your apartment that you have no idea what to do with, consider creating a gallery wall ! With color and theme in mind, purchase frames of different sizes first and take their measurements. Then, cut out pieces of paper that are the size of your frames and stick them to your wall to see the arrangement you like the best. Once you find an arrangement that works, take a photo! You'll reference it as you source artwork and begin hanging each piece. When you're finished, you'll have an eclectic and fun wall that contains photos, paintings, graphics, and quotes that speak to you. Fill It With Plants If you're one of the lucky people that has a lot of natural light in their apartment, you need to take advantage and purchase a few plants. Not only can plants clean the air and create a vibrant, living element to your home, but their rich green colors can quickly change the look of your apartment. We recommend starting with hardy tropical plants that thrive in low-light conditions, such as: Pothos Spider plants Snake plants ZZ plants Lucky bamboo Peace lily Keep your plants as close to your windows as you can and only water them when you feel the soil is dry. Wall Decals Apartment decorating can be as simple as sticking something to a wall. Removable wall decals are a great option if you hate hanging things and want a no-fuss option. You can find them online as well as in popular big box stores. Even better, they come in a variety of patterns, shapes, and colors so that they can fit almost any aesthetic. The trickiest part is to install them without making bubbles, so we recommend enlisting the help of a friend or going at a slow and steady pace. If you do get air bubbles, sometimes a hairdryer will help, but it's important to read the manufacturer's recommendations. If you want to cover large, blank walls, you also have the option of peel-and-stick wallpaper. Color Pop Decor Remember that home decor can help you more than you think–you just have to shop with intention. Choose decor items that have the accent color you want in your space. If you find a sculpture, pot, or frame that doesn't have the color you're looking for, you also have the option of spray painting it. Place these decor items strategically around your apartment in order to give pops of color wherever you look. This can be throw pillows on the couch, small sculptures on a shelf above the television, and even the spines of books on your bookshelf . A Touch of Color Can Do Wonders for Your Apartment Apartment living doesn't have to be a drab and uncomfortable experience. You can personalize your space with the color you love through these non-invasive methods. The best part is that when it's time to move, you can take all of these items with you. Instead of having to go through the labor of painting only to move and never see them again, tapestries, wall art, and furniture are an investment. Ready for luxury apartment living in Frederick, MD? Contact us today to learn more about Prospect Hall Apartments!

How to Choose a Moving Company

Moving can be a stressful process. You have to plan and keep track of so many things at one time. However, one thing you should not have to stress about is your moving company. Knowing the questions to ask before you commit is the best way to avoid any unwanted surprises on moving day. Here are some ways to choose the perfect moving company for you. Referrals Before you start searching the web for your moving company, ask your family and friends if they have any recommendations. You can also ask your real estate agent if you are working with one. The internet should be your second or third option as some reviews about moving companies may not be totally reliable. The Better Business Bureau is a helpful website to use should you turn to the internet. Don’t Choose the First One Do not go with the first moving company that you meet with. Meet and get in-person estimates from at least three companies before you start to narrow it down . Ask them questions , such as how they determine the cost of the move and how long the company has been in business. Check Verification and Licensing For a moving company to be verified, the U.S. Department of Transportation Federal Motor Carrier Safety Administration must have a U.S. DOT number license. This license is given to interstate movers. You can verify a company’s license by going to protectyourmove.gov and requesting the company’s DOT number. Check Insurance Coverage While a moving company is required to be licensed, they also are required to have a minimum amount of insurance. This insurance can vary from company to company, but it also should be included in the questions you ask them. They must provide you with written proof called a Certificate of Insurance. To confirm a moving company’s insurance, you can search them on SAFER or call the insurance company itself. Confirm Everything Before signing any contract or binding yourself to a moving company, confirm that everything that they have said has been put in writing. Give the contract a thorough read, check their license and insurance, and confirm payment terms as well. By double- and triple-checking these criteria, it will cause less stress and fewer issues on the big day. With these quick and simple tips, your move will be quick, safe, easy, and cheap. The best way to get a good start somewhere new is to get there the best way possible.

Fire Prevention Month: Tips for Preventing Fires in Your Apartment

As temperatures start to decrease outside and people begin to start staying in more, it is important to take precautions so that your apartment is a safe place to be. Most apartment fire s are preventable if safety measures are put in place, but it is also important to have a plan if a fire does happen. Whether it is a kitchen fire or electrical fire, here are some fire prevention tips to ensure that your family is safe through the chilly months. Kitchen Safety As the colder weather comes, the want for a warm, hearty homecooked meal comes as well. All the cooking and baking that takes place makes a home feel lively, but as almost half of the apartment fires start in the kitchen it is important to be mindful of how you go about it. Do not ever leave food unattended and keep oven mitts and towels away from any hot surface. Be especially careful when using oil or grease and try to avoid wearing loose-fitting clothing. Setting a reminder to turn off the oven or stove just to be extra careful! Smoke Detectors and Fire Extinguishers Ensuring that your apartment has working smoke detectors is an easy, quick precaution to take to protect yourself. These detectors can be battery-powered or electrically wired. Test alarms about once a month and put one outside each room where people sleep. If a smoke detector is malfunctioning, try to take care of that ASAP. Fire extinguishers are also an easy precaution to take in your home. Having a fire extinguisher on hand can help prevent a small fire from spreading into a bigger one. Make sure the extinguisher is up to date and working properly. Heating and Candles When using a portable space heater , make that there are at least three feet of clearance around it. Do not keep them on all day and especially do not leave them on when you go to sleep. Turn them on in intervals and when they are on keep small children and pets away from them. When it comes to candles , never leave the open flame unattended and keep it away from curtains or any type of draping cloth. Always remember to blow candles out if you are leaving the room or if you are going to sleep. Electrical and Appliances In order to prevent electrical fires , try to use power strips instead of extension cords because they have circuit breakers. If any type of electrical appliance cord gets cut or cracks, do not try and tape it back together with electrical tape as this can make the cord to overheat and cause a fire. Unplug the cord and replace it instead. You can also protect your appliances by using surge protectors. If an electrical fire does occur, do not ever throw water on it because of the risk of electrocution; a fire extinguisher is always better. Laundry Room To ensure property safety measures in your laundry room, have your dryer installed by a professional. Avoid using dryers that do not have a lint filter and clean your lint filter after every load. Have a Plan Although following all these tips can reduce the chance of a fire occurring in your apartment, not all fires can be prevented. That is why it is important to have an escape plan . Conduct practice fire drills with your family and map out the best route to get out of your building. Have a backup route just in case the first route is blocked. Being prepared if a fire does occur can help reduce panic in a real situation.

Fun October Events in Frederick, MD

It’s time to celebrate fall around Frederick and there’s a lot to do in the area. We’ve compiled a list of some activities and events being held by local businesses – both onsite and virtual – so you can fill your calendar with fun. Frederick Farmer’s Market | Saturdays in October & November Local farmers come together each Saturday at 1215 W. Patrick Street to sell local produce, meat, plants, flowers, & crafts. Support your Frederick area artisans and farmers by shopping this event each Saturday morning. Yoga then Beer | Sundays Catch some Zen at Idiom Brewing Company. Starting at 10:45, flow for an hour-long, all-levels yoga class then enjoy beer at a discount. Classes cost $15, then receive your first beer for just 50 cents. Registration is required. Visit the Idiom Brewing Company website to register. Spooky Saturday | October 17 Dress up in your Halloween costume, then relax and watch a drive-in style Halloween double feature with two classics: The Nightmare Before Christmas and Hocus Pocus. Doors open at 5:00 PM, movies begin at 7:00 PM. Movie sounds are transmitted through FM radio, so be sure you have one available. Spooky Saturday is located at 797 E. Patrick Street. Catoctin Cruise | October 18 Check out the scenery in and around the Catoctin Mountains along with the Mustang Club of Maryland . The club meets at 9:00am at the Giant Food on Kingfisher Drive then tours the back roads of Frederick & Thurmont . At the end of the drive, you can enter a 50/50 raffle benefitting 3 nonprofits, partake in a potluck picnic, and make a donation to Toys for Tots . Salsa Under the Stars | October 21 Learn salsa dancing under the beautiful Frederick night sky. This is the last lesson in the Salsa Under the Stars series for 2020. Beer & wine are available, but this is an all-ages event. A $5 suggested donation supports Frederick Salsa. Registration is required by visiting the Frederick Salsa Website . October Wine Pairing Night | October 21 Spend the evening at Hidden Hills Farm & Vineyard tasting seven wines paired with seven courses. Tickets for this event can be purchased using the EventBrite link and spaces are limited to comply with social distancing requirements. Halloween Car-Stume Parade | October 24 Dress up your car for a unique twist on a classic Halloween costume at Francis Scott Key Mall . Cash prizes will be awarded for the most imaginative, best design, and best use of color. Local entertainment & food trucks will be on site as well. Battle of the Beers & Tasting of the Trucks | October 24 Taste your way through the best food and brews Frederick has to offer, then vote for your favorites. This event is for ages 21 and older, tickets are required. Learn more by visiting the event’s Facebook page . Candyland Fall Festival | October 24 Brook Hill UMC Children’s Ministry is hosting a socially distant variation of Trick-or-Treating. Sign up for a 30-minute stroll through Candyland, then come dressed in our costume (and mask) to collect candy in a safer manner. Sign up using their EventBrite page . Donations of non-perishable food items will be collected. Cruise In for Toys for Tots | October 25 Drive through Westview Promenade to donate new, unwrapped toys to Toys for Tots. This event is hosted by The Golden Gears Club of Frederick, MD. Drive-Thru Trick or Treat | October 26 The American Cancer Society and Relay for Life Frederick County are hosting a drive-through trick-or-treat at The Great Frederick Fair from 4:30pm – 8:45pm. Local vendors will be handing out treats as cars drive through the fairgrounds. At just $5 per car, this is an event you won’t want to miss! Pumpkin Carving Contest | October 28 Prospect Hall Apartments is hosting our very own pumpkin carving contest from 5-7pm. To enter, drop off your carved pumpkin at the clubhouse on October 27 from 9am – 5pm. Judging will take place at our fun fall event on October 28. This event will be outdoors and socially distanced. The best pumpkin will receive a $25 gift card, with prizes for 2 nd and 3 rd place as well. Watch for flyers around the community! Pirates of the Carabiner Halloween Party | October 31 Visit Tree Trekkers for an unusual version of trick-or-treat fun. Trick or treat on the ropes course while enjoying barbeque by Plumeria Pig. Tickets can be purchased here and get you 2 hours of course time, gloves, and access to trick or treating on the Hallows & Gallows course. Costume contests will be held, so be sure to dress in your Halloween best!

Get Smart About Credit

If you find thinking about your finances stressful, you're in good company. More than 70 percent of Americans say finances are their biggest source of stress. Fortunately, getting credit smart doesn't have to be as hard or as scary as it sounds. Here are five easy ways to improve and maintain your credit. 1. Know Your Credit Score Do you know your credit score ? You should. Why does your personal credit score matter so much? Put simply, it can open or close doors in every aspect of your financial life. Adults with strong credit scores: Are more likely to get approved for loans and lines of credit Have more freedom and flexibility when it comes to choosing where to live, what to drive, and how to invest Have more of a safety net when unexpected expenses arise Get better terms on lines of credit and loans, which can save them hundreds of thousands of dollars over a lifetime Adults with low credit scores can spend their lives struggling to achieve their financial goals. Almost everything costs them more They may not be approved for much-needed lines of credit or important loans, such as mortgages Lack of access to good credit can drive them to risky or damaging financial and credit decisions How Do Find Out Your Score? If you don't know your score, you're in luck. It isn't hard to find . You can often find your score on your latest credit card statement or on paperwork relating to any loans you may have. Credit counselors working for non-profit or government agencies, such as HUD, can usually provide it as well. If you've recently completed an apartment rental application or other credit application, the lender or apartment company will likely have pulled your credit score and may be able to tell you. It is important to be aware that each credit reporting company may have a slightly different score for you. Different companies use their own calculations, which can lead to minor variations. Overall, though, your score should be similar from company to company. 2. Know What Affects Your Credit Score (and What Doesn't) The next step in getting smart about credit is understanding what affects your score (and therefore matters) and what doesn't. Credit companies base your score on five things. How much you owe to all creditors in total How long your credit history is What types of credit you have How consistently you pay your debts on time How much new credit you have applied for Of these things, how consistently you pay your debts on time carries the most weight. The total amount you owe compared to how much you earn and how much credit is available to you is the next most important factor. The third most important factor is the length of your credit history. What Does This Mean for You? How can you use this information to improve your credit score? First, if you don't already have a credit history, start one right away! Apply for a credit card or a small personal loan, even if you don't need one. This will open a credit history for you and help you down the line. If you have teenagers at home, help them apply for and get a credit card as soon as it is safe and reasonable to do so. Even if they have a very low limit or barely use the card, having a line of credit open will help them build a strong credit history early in life. Second, look at your total debt-to-income and debt-to-available-credit ratios. If you have a lot of debt compared to your income or available credit, work out a plan to pay down your debt to a more favorable level. Talk to a credit counselor for help if you need it. Third, understand that the most important thing you can do to improve your score is to pay your bills on time. Evaluate your current status in that respect. Do you pay on time every time? Do you miss an occasional payment? Do you often pay late? If you struggle with paying on time, get help. Find an accountability buddy, set reminders on your phone, or set up auto-pay when possible. No matter what system you use, paying on time is worth any amount of effort. 3. Clean up Your Credit History Cleaning up your credit history is a quick and powerful way to improve your score. If you intend to submit a credit application for apartment rental or to apply for other credit, take time to clean up your score first. It might very well help you get better terms! How does cleaning up your score work? Three national companies monitor and report on consumer credit scores nationwide. They are: Experian Equifax Transunion Each company is required to provide every consumer with a copy of their credit report upon request once a year. Remember that each company works independently and may have different information on record than the others. It is important to check your report from each company every year. To clean up your credit history: Request a free copy of your report When it arrives, review it carefully Look for and note any information that is wrong or inaccurate, including dates, numbers, and account status Contact the company and request that they change your history to reflect the correct information This process doesn't take very long but eliminating old debts from your report can improve your score. Correcting dates can also improve your score if it makes your history look longer. Cleaning up your credit history can be particularly important if you: Used to be on a joint account with a parent, spouse, or child but are not anymore Paid off or closed out debt in the last year Recently opened a new line of credit Have a common name and have had debts erroneously accredited to you in the past For credit-ninja status, check one report between January and April each year. Check another between May and August, and the last between September and December. This spreads out the burden and limits the amount of time you might go without knowing about errors on your credit history. 4. Know Where Your Money Is Going Just under one-third of Americans follow a personal or household budget. While it's true that no one enjoys budgeting, you can't live a credit smart life if you don't know where your money is going. At a minimum, every adult should: Periodically review their monthly and yearly expenses Understand what their average take-home pay is Know how much they spend per month on average Know what they have in savings and how much money they are putting in savings each month Without this information, it is impossible to make smart money decisions. If getting a grip on those numbers seems overwhelming, then the next tip is for you! 5. Make Digital Tools Work for You Getting a handle on your finances is important, but you don't have to tackle it alone. Modern money apps and other smart technology can help you: Track where your money is going See how much money you have across accounts at a glance Trick yourself into saving money Communicate with your partner or family about money Identify and reach financial goals, such as saving enough for an apartment security deposit Set up and follow a painless budget Teach your kids about money management in engaging ways (If you're the type of person who prefers good old pen-and-paper solutions, trying turning money management into a game instead.) Digital tools can take the stress out of money management. They can save time and give you a sense of control that you need to make real changes in your financial habits. You may need to experiment to find the right tools for your needs and lifestyle, but the payoff is worth investing the time and energy up front. Online Courses Finally, consider taking free online courses about money management or following a few free blogs or youtube channels run by financial experts. These digital tools can help you better understand the larger financial world in which we all live and equip you to make money-savvy choices. Learn More About Being Credit Smart Now that you have these credit smart living tips under your belt, continue your journey with our other great articles. Learn smart apartment rental tips and tricks that can help you save money and make the most of your credit on our blog .