Your first rental is exciting, and a little scary at first. There are lots of questions: how much money you need, what documents, what to look for in the contract. This article goes through them, briefly.
How much money do you need to move in?
The first month is the most expensive. You usually pay all of this at once:
- the first month's rent,
- the deposit, typically two to three months' rent in Budapest,
- the move itself, plus the first shop for whatever the flat is missing.
So for a HUF 250,000 flat you can easily need HUF 800,000 to 1 million on day one. For what a flat realistically costs, see Budapest rental prices.
How much should you budget each month?
Rule of thumb: rent and utilities together shouldn't be more than a third of your net income. Don't forget utilities: in winter, heating can be a big item. Ask the landlord what they were last year.
What documents do you need?
The landlord wants to know you can pay and that you're reliable. They usually ask for:
- proof of income or an employer's letter (as a student, a parent acting as guarantor may also work),
- a reference, if you've rented before,
- proof of identity when you sign the contract.
What they can and can't ask for is covered in this article. How to stand out from other applicants is in our article on being a strong applicant.
The search
Be ready to move fast: a good flat is gone in a few days. The whole process is in the steps of finding a rental, and for viewings we have a 15-minute checklist.
And be careful: first-time renters are scammers' favourite targets. Never pay in advance for a flat you haven't seen. We've collected the warning signs here.
The contract
Don't sign anything you haven't read to the end. Pay special attention to:
- how much the rent is, when and how you pay, and whether it can go up,
- how much the deposit is, and when you get it back,
- who pays utilities, and how you settle them,
- how long the contract runs, and how it can be ended.
The key points are listed in our article on the lease.
Move-in day
Photograph everything that isn't perfect, and make sure it goes into the handover report. It's your guarantee that you'll get your deposit back. Read the meters together too.
FAQ
Do I have to pay an agent?
For rentals, the landlord often pays the agent's fee, but not always. Ask in advance, and if you have to pay, get it in writing.
Can I register my address at the rental?
Only with the owner's consent. We wrote about it in our article on address registration.
What if I can't afford it on my own?
With a flatmate it's much cheaper. Read how to do it here.
Rentkey Passport
With a Rentkey Passport you put your details together once and send them to every landlord with one link. They don't see your documents, only the summary. As a first-time renter this helps a lot, because you come across as organised and reliable.
