There are many things you can do to help support your college student family members, ranging from financial aid to apartment shopping. Here are some of the best things you can do to set your students up for success in college and beyond.
School is starting up again, and with it, many college students are moving into their student homes. Some live in dorms, but many students choose to live in rentals. For these students, this is often their first time living away from home and being responsible for their own rent and home maintenance. This provides an opportunity for more experienced loved ones and family members to give advice and assistance that can ensure these students have an ideal start to their independent lives.
While you should discuss respect for neighbors, quiet hours, and how to balance studying, work, and home care, there are some additional highly beneficial things you can do for your college student child or family member to set them up for success in their first years away from home.
Help Them Shop for an Apartment
If you help your college student find their first apartment, you can guide them through the process and teach them what to look for. This can set them up for success down the road, as it will equip them with the skills and knowledge they need to find good housing in the future. Ensure that your college student has an opportunity to pick an apartment, but push them towards housing that is affordable, safe, and in good condition.
Help them prioritize the most important necessities for a first apartment. Depending on the region and the neighborhood, it may be more important to find some features than others. Safety and security might be more important in towns with high crime rates, for example. Other students, however, might want more community values and prioritize some amenities. As their family member, you should guide them to find the best balance between their wants and needs, whilst keeping their budget in mind.
Learn more: 1st Apartment Necessities (That You May Have Forgotten)
Discuss Budgeting With Them
Budgeting for a first apartment is no small task for a young adult living away from home. It is an essential skill for a young adult to develop, so it is wise to discuss the subject with the college student in your family. Budgets are exceptionally important for this stage of life, as most college students are tight on money and are only just learning how to live without the oversight and care of their parents.
Important topics to address are prioritizing bills, how to manage paying for necessities such as food, and how money should be saved, if at all possible.
You may be able or willing to assist your student financially. If you do this, you must discuss what they can and cannot use that financial assistance for before they receive any of the money. This skill will follow them through life and be useful at every stage.
Co-Sign Leases With Them
Many first-time renters struggle to find rental companies that are willing to take a chance on them without a rental history. As such, it can be highly beneficial to have a co-signer, someone who has more history as a renter and an easier time proving responsibility. If you have a trustworthy young adult in your family, co-signing a lease with them is a great way to help them begin building a rental history.
Be aware that this does make you responsible for the rent if the person living in the rental doesn’t pay it for any reason. If your college student isn’t known for being responsible with their money or rent, it might not be time for them to move out of home yet, and living in student accommodation such as dorms may be preferable, since the payment is typically included in their tuition and won’t impact their or your credit.
Learn more: Do I Need a Guarantor or a Cosigner to Get Accepted for a Rental?
Gift a Home Maintenance Kit
A basic home maintenance kit can be extremely useful for a young adult living away from home for the first time. A Phillips and flathead screwdriver, wrenches and sockets, a flashlight, a hammer, and a set of pliers are must-haves for a basic home maintenance kit. More items can be added depending on the property your college student is living in, including yard cleaning and maintenance tools.
These tools will become necessary for general home maintenance and, while you should encourage communication between the new renter and their landlord, you should also teach them how to handle minor repairs themselves. You should also discuss with them what constitutes a call to the landlord or property manager.
Learn more: Gift Ideas for First-Time Renters
Get Them Renters Insurance
Renters insurance is essential for any renter, so it is important to learn about it early on. When I was first renting, I didn’t even know renters insurance existed until I needed it, so don’t assume anything about what your young family members should know. Teach them what renters insurance is, the benefits, and how to shop for it. Not every lease requires a tenant to have renters insurance, but it should be a habit regardless of the lease’s requirements.
Learn more: Renters Insurance Benefits and Why You Should Require It
Final Thoughts
Moving out for the first time is an exciting experience for any young adult, and guiding your young family members at this stage of life can set them up for success. If you have someone in your life who is starting college or moving out for the first time, discuss their plans with them, and offer these forms of assistance to ensure they start off their independent life on the right foot. If you’re a parent or close family member to a recently moved-out adult, tell us in the comments what you did to help them get started.
