Whether you’re off to college or moving out of your childhood home, renting an apartment for the first time is intimidating. High school and college courses don’t typically teach best practices for renting, so outside research is necessary to ensure a smooth transition.

To best prepare yourself for renting next season, consider the following tips.

1. Set a Smart Budget

Unless you’ve landed a high-paying job in your late teens or early 20s, it’s best to set a modest budget for your first apartment or single-family home rental. In general, financial experts recommend renters spend no more than 30 percent of their income on rent. Unfortunately, however, many renters in large cities spend far more than the recommended percentage.

In Los Angeles, leaseholders allocate about 47 percent of their incomes toward monthly rental dues. Miami apartments are not far behind, costing Southern Floridians 41 percent of their incomes. If you’re living in a coastal large city, be prepared to spend more or set aside additional time to find a less expensive rental – which may take longer than expected.

2. Gather Your Credentials

Most apartment buildings and landlords use credit scores to determine how reliable you are on a financial level. If this is your first time renting, you’re probably fairly young and lack extensive credit history. To combat a minimal or lackluster credit report, provide proof of income and dates of employment to your future landlord. Make sure you have at least one bank account set up with at least three months of rent available to prove financial responsibility.

3. Find References

Again, without a solid credit or rental history, you will need to find a co-signer, who is essentially a fallback person who your landlord can charge in case you fail to pay your rent on time or at all. Have your trusted co-signer fill out a co-signer agreement beforehand to make sure they are 100 percent willing to take on the responsibility. Additionally, provide your landlord with two, preferably three, contacts who can vouch for your character. Previous employers, teachers or friends are all viable references to a hesitant property manager.

4. Compile Realistic Must-Haves

Your first apartment is not going to be your best. Unless you have unlimited funds, you’ll have to skimp on some of the luxuries you might be used to, like a dishwasher or washer/dryer in-unit. Although you’re not investing in property, it’s sometimes better to find a good location that can help you cut down on your commute costs, versus a remote building with extensive amenities.

5. Find a Professional

In today’s rental market, apartments rent quickly. Find a rental agent who is paid by the listing party to get a professional point-of-view without the added service fees. Often times, apartment buildings will pay agents all or part of the first month rent if his or her client signs on for a long-term lease. In some competitive markets, including New York City, aspiring renters have to hire and pay a leasing agent for their expertise. Even if you don’t rent one of the apartments the broker shows you, you’re still indebted to them, typically one month’s rent based on your budget or final apartment choice. Factor this cost into your budget if you live in a city where you have to pay your broker separately.

Renting your first apartment is a rite of passage into adulthood. While things can be competitive and quick in the rental market, you shouldn’t be intimidated if you complete your due diligence. Start early, be realistic and remember – it’s only temporary.