If you have found yourself in the position of being a first-time renter, then it's important for you to have a full picture of just what it is like to rent from a property management company or even a private owner. The more information you are armed with, the better experience you will have with regards to both going through the application process and renting a home for you and your family. Here are some important factors for you to know when you plan on renting for the first time:

There will be an application process to go through

When you find a rental, you need to go through an application process and your application will be considered along with anyone else's who is also interested in renting the home. This is why you want to do your best to present a complete and favorable looking application and do anything else you can to help you stand out as a better-looking candidate than the others.

This may mean offering letters of recommendation, dressing as if you are going to a job interview and going the extra mile to make sure you have all the requested paperwork available to submit with the application. If you know you have weak areas, such as subpar credit or a short amount of time on the job then it's important to put more work into other areas of the application to continue looking like a great choice.

Each lease will differ

Make sure you read every line of the lease and keep a copy of it where you can revert back to it anytime you have questions regarding your responsibilities as a renter. Common leases are 6-month, 12-month and 24-month leases, but you and the manager can decide on a different time period if another duration of time works better for everyone involved.

The lease will determine the amount of rent, the day rent is due, who can reside in the home, which pets are permitted, who pays for which utilities and many other factors, such as how much notice the manager must give before entering the property.

There are some common rules renters must generally follow

While each lease is different, there are some rules that tend to be the status quo. A few examples can include giving the manager 30-days' notice when you plan to move out, getting written permission before you make any permanent changes or other improvements to the land or the dwelling and always getting prior written approval before allowing someone not currently on the lease to move into the home with you.