Compiled by the editorial desk with reference to expert commentary from StreetEasy and Zillow, and public survey data from StreetEasy.

Signing your first lease is a major financial commitment, and new data shows the stakes are higher than ever. A recent StreetEasy survey found that the average upfront cost to move into a rental reached $10,454 in 2023, a 29% jump from 2019. With that kind of money on the line, knowing exactly what to check before you sign can save you from expensive surprises down the road.

Experts say the process is more than just finding a place you like. Casey Roberts, a consumer trends expert at StreetEasy, and Emily McDonald, a rental trends expert at Zillow, shared the key areas to review before committing to a lease.

Upfront Costs: Know the Full Picture

The first thing to verify is whether you can afford the initial payment. Roberts notes that while most renters expect to pay first month's rent and a security deposit, other fees can appear depending on the market. These can include a broker's fee, which might be as much as a full month's rent or 15% of the annual rent, and sometimes additional charges like last month's rent, a move-in fee, a pet deposit, or an amenity fee.

Roberts advises asking about all upfront costs before even visiting a property. "It's a good idea to ask what you'll need to pay upfront before you even visit the rental so that you know if it's within your budget and can apply quickly after touring the apartment if you love it," she says. In competitive rental markets, being prepared can help you act fast.

Renter's Insurance: Often Required, Frequently Overlooked

Many first-time renters are surprised to learn that renter's insurance is a lease requirement. McDonald points out that while many landlords mandate it, half of renters report not having a plan. The good news is that getting coverage is straightforward, but you need to check your lease for specific coverage amounts. "Just remember, some landlords have specific coverage amounts they want their tenants to have, so take a look at your lease to understand their requirements before you start shopping around for an insurance plan," McDonald says.

Document the Condition of Your New Home

Before moving in, it's crucial to document the property's condition. McDonald recommends taking photos and noting any damages during your tour. This can protect your security deposit when you move out. "As you tour, note any damages and snap photos. This way, when you move out, both you and your landlord are clear on the property's condition," she explains. Even small details like loose cabinet handles or appliance issues should be recorded. This simple step can prevent disputes and ensure you get your deposit back.

Building Policies: Know the Rules Before You Move In

Every building has its own set of rules, and it's important to understand them before signing. Roberts suggests checking policies on subletting and breaking a lease early, as these can be crucial if you need to move unexpectedly. "It's good to have an understanding of what your options are for subletting or breaking your lease early, and possibly try to negotiate that language into your lease if it's not already included," she says.

Other policies to review include utility responsibilities, smoking rules, decorating restrictions, use of common spaces, and trash disposal guidelines. Knowing these rules can help you avoid fines and unexpected conflicts.

Moving into your first rental doesn't have to be overwhelming. By taking the time to double-check these four areas, you can enter your lease with confidence and avoid common pitfalls. If anything is unclear, don't hesitate to ask questions or request amendments—this will be your home, and the terms should work for you.