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Not Your Parents Basement: Life After Graduation
1. Not Your Parents Basement:
Life After Graduation
Cheri Moreau, Property Manager, J.C. Hart Company
Cheri.moreau@homeisjchart.com
2. • Who is Cheri? 7 years experience in multi-family property
management with a specific background in interior design
– *including J.C. Hart’s Property Manager of the Year in
2012*
• J.C. Hart has 21 communities with over 6,000 units (and
counting!)
• Communities located in: Indianapolis, Carmel, Westfield,
Noblesville, Fishers, Avon, West Lafayette, and Bloomington
• 6 prestigious 2014 Midwest Multi-family awards, including
Property Management Company of the Year in Indiana as
well as Carmel business of the year
3. $Price$: What will my new apartment cost me?
Income (to) Rent
Ratio: 2.5x your rent
Example: $1000/mo.
rent you’d need your
GROSS income to be
$2500/mo.
40% of your income
will be spent on
housing
Resident typically
pays all utilities
Best guess: ~$200/mo.
Most asked
question when
setting up
utilities???
5. Location, Location, Location…
Westfield named
#18 city in Time’s
Money.com 2013
Best Places to Live
in America (#1 in
Indiana)
You can shop from
your parents
LazyBoy…so you
can *LEAVE* your
parents LazyBoy.
Example: J.C. Hart’s
Find a Home
6. Renters Insurance:
How much does
insurance cost???
Requirements (typically):
$100,000 general liability
over at least $10,000
personal property
What is general liability?
Example: Woman parks in
kitchen
Example: Best friend trips on
stairs and sues you
7. S P A C E…
Don’t get drunk on
square footage
$6,864
400
Oh and FYI…
8. Things you could buy with $6,864…
2,428 bottles of Ketchup
A savings of $2,882.88
on interest alone on
your Sallie Mae Navient
student loans
190 Honey Oak TV
Dinner tray sets (for
your parents basement
of course)
That
9. How does an apartment lease work?
Step 1: Application
process
#1 criteria: credit
worthiness
Hurdle: ‘thin credit’ (not
bad) so typically a larger
deposit or co-signer is
required
Step 2: Lease process
Proof of income
Proof of insurance
Setup utilities in your name
Determine length of lease
Step 3: Get your John
Hancock on
10. Oh By The Way…
• The lease contract is a legal binding document between you (not
your girlfriend, your best friend, your parents, your dog, or that hottie
you just swiped on Tinder) and the apartment community /
management company
• If you break your lease, there are lease termination fees
• If you want to ‘add’ a roommate, they will be submitted to the same
process (and must qualify) that you were submitted to
• Most apartment communities have pet policies…so be prepared if
Lassie is coming along
• This entire process, lease contract, and any lease violations will be a
part of your credit report/rental history
11. If you have any questions…
Find this presentation:
http://www.slideshare.net/cheripurduetalk
Cheri Moreau
Email: cheri.moreau@homeisjchart.com
Phone: (317) 804 – 2669
Union Street Flats http://homeisunionstreetflats.com
