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What a first tenancy actually costs to start
The deposit is rarely the largest number, and the total needed up front surprises most first-time renters.
Typical starting costs are the first month's rent, a security deposit, sometimes the last month's rent, an application fee for each adult, and utility connection deposits. Together these commonly come to several times the monthly rent.
Application fees are charged per applicant and are usually non-refundable, so applying widely is expensive. Several states cap them, and some require unused amounts to be returned.
Renter insurance is inexpensive and increasingly required by the lease. It covers belongings and, more importantly, liability, which is the part that turns an accident into a long-term debt.
A guarantor is often requested where there is no rental history. If someone agrees, they are taking on the obligation described in the guarantor article on this site, and they should read what they are signing.
What to do next. Budget for several times the monthly rent in up-front costs, and arrange renter insurance before moving in.
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between academic years. This is written to help you read the official sources, not to
stand in front of them. Start there.
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