Editor’s Note: The following information was provided by Walworth County via UW-Extension.
Rent and other housing costs are the largest expenditure for most households, often exceeding the U.S. Department of Housing and Urban Development (HUD) guideline of no more than 30% of one’s income. Signing a rental agreement is a major financial commitment. It can create serious problems when someone rents a unit that they cannot afford. One of the most common causes of eviction is failure to pay the rent. It is essential to understand the total cost of a rental unit, beyond the price of rent alone, before deciding to rent.
Besides the rent, what else does the tenant pay for when renting a home? Knowing the answer to this question is very important before looking seriously at renting. In reality, the actual costs of living in a rental unit are more than the cost of rent alone. Being careful to get all of the information is essential to making certain they can afford to pay for rent and still be able to meet other basic needs. While it is true that landlords are required to disclose fees and charges (even if just verbally) and provide information on all costs, it is ultimately the future renter’s responsibility to ask for this information before agreeing to rent. Costs that tend to sneak up on renters are: heating, electricity, parking fees, renters insurance, and transportation costs to name a few.
“During Rent Smart, we cover each of these concepts and other concepts in depth and help people determine how to make better rental decisions” states Amanda Kostman, UW-Extension Outreach Specialist. Currently online: Rent Smart programs that are scheduled, FREE, virtual and open to the public! Choose from any of the following live Zoom sessions — they all include the same information.
What you will learn:
● Planning for and meeting monthly expenses
● Tips for finding and maintaining affordable housing
● How to complete an application and why landlords screen applicants
● Strategies for building positive relationships with landlords and neighbors
● Responsibilities and rights of landlords and tenants
- January 2022: 2 consecutive Saturdays January 22 & 29 1-4:30 pm (pre-program check in Saturday, January 15)
- February 2022: Monday, Wednesday, and Friday 9-10 am February 7, 9, 11, 14, 16, 18 (check in Monday, January 31)
- March 2022: Tuesdays and Thursdays 7-8 pm March 1, 3, 8, 10, 15, 17 (check in Tuesday, February 22)
- April 2022: Monday and Thursdays 1-2 pm April 4, 7, 11, 14, 18, 21 (check in Monday, March 28)
- May 2022: 2 consecutive Saturdays 9 am – 12:30 May 14 and 21 (check in Saturday, May 7)
- June 2022: Monday, Wednesday, and Friday 9-10 am June 6, 8, 10, 13, 15, 17 (check in Monday, May 30)
To register please go to https://fyi.extension.wisc.edu/rentsmart/rent-smart-online/. Contact Amanda Kostman at amanda.kostman@wisc.edu or 262- 741-4961 for any questions!
In addition, UW-Extension has online resources to assist with managing money, dealing with debt, and making progress toward goals. The website https://finances.extension.wisc.edu/ links you to reliable resources for budgeting, boosting credit scores, dealing with unexpected expenses, saving for college, and renting that first apartment.
For more information on managing family finances, contact Amanda Kostman at amanda.kostman@wisc.edu or 262- 741-4961.
