 |
7 Key Considerations To Finding A Rental Apartment
Author: Bruce Roberts  | Posted: 17-05-2008 | Comments: 0 | Views: 41 | Rating: (60)  (?) 
Finding an apartment, especially in a "landlord's market" can be tough. With rental units being converted into condos and vacancy rates at all-time lows, it can be rough locating an apartment unit that fits your budget and your needs. Before you start the search for the perfect apartment, keep reading for a valuable list of factors to consider.
Location, Location
Whether you want to be right in the heart of the city, a more suburban area or rural location that offers space and affordability is going to be your first major decision.
While city living provides shorter commute times and city amenities to those who are employed closer to downtown, properties that are off-the-beaten path tend to cost less and offer more in terms of parking and space.
If you enjoy the hustle and action of city life where you work but prefer the solace of disconnecting from people afterward, you will certainly want to weigh all the personal pros and cons of urban vs. suburban life.
Price
Ideally, you don't want your rent to exceed a third of your monthly income. If you're saving for a down payment on a home or different investment, you should cut that figure down to a quarter of your monthly salary. As mentioned above, given the benefit of proximity to many amenities, appealing urban apartments are simply going to cost more.
Space
Depending on the size of your family, roommates and the quantity of your belongings, you'll need to decide how much space you need. Today, many couples are opting for rental properties with a second bedroom or den that can serve as an office or guest room space. Of course if you have children, the apartment must first permit them. And then additional space becomes a prime consideration.
Parking
If you have a vehicle, parking is a concern. Before you sign a lease on that downtown loft, make sure there's somewhere you can park your car, even if there is a monthly fee for it.
Pets
Depending on the tenancy laws in your area, landlords can deny apartments to tenants with pets or put restrictions on the type of animals allowed in the apartment. Also, you may be required to pay an additional deposit if you plan to share your rental apartment with an animal companion. Pets pose sanitation and noise risks that landlords must take into account.
Landlord
An apartment can seem great, the perfect location, the right price and all the amenities you need, but if the landlord is difficult to deal with, you could quickly find yourself living in a nightmare. Remember, over the length of your lease, you'll need to deal with your landlord on a regular basis - from paying rent to calling about repairs, they're going to be your point person and main contact.
You wouldn't enter into an investment business partnership with someone you didn't like, so why would you for your home? If have a bad feeling about a potential landlord, walk away.
Amenities
Laundry, appliances and utilities are all perks and sometimes necessities for apartments. Remember, that fifth floor walk-up apartment ten blocks from the nearest laundromat might not seem so charming when you're lugging two loads of laundry down the street.
Rate this Article:
Current: 0 / 5 stars - 0 vote(s).
Article Source: http://www.articlesbase.com/real-estate-articles/7-key-considerations-to-finding-a-rental-apartment-417364.html
|
Submitting articles has become one of the most popular means of generating quality backlinks and targeted traffic to your website. Join us today - It's Free! |
|
Got a Question? Ask.
Ask the community a question about this article:
Frequently Asked Questions
Am I responsible for tenants cost of eating out during stove repair?
By: lily | 01-10-2008
I am a landlord. The gas stove in the rental apartment was not fully function that the pilot does not stay on for long. Within a week after this problem is discovered, I decided to replace it with an electric stove to prevent any further issue. It took me a week to get the wiring work done for the new electric stove. It took me another week to wait for Home Depot delivery. Now the tenants claim that for the whole 3 weeks they did not cook. They were financially burdened when eating out for 3 weeks. The stove it's self is working but the pilot was not. They could have light the stove with a lighter. Am I responsible for their cost of eating out?
Do I have to pay rent if my mattress was damaged ...
By: edwardsm414 | 27-09-2008
Do I have to pay rent if my mattress was damaged due to a leaky roof that I've complained about for weeks?
Do I have to pay rent increase
By: Concerned | 27-09-2008
The landlord wants to raise the rent $100.00 because of recent repairs they were mandated to make by the town. I was sent a letter requesting the increase because of their recent expense to fix the house. Am I legally responsible to pay the increase rent to cover those expenses? Their expense is short term where as mine will be long term. They are basically making me pay their repair bills and then gain profit long term.
I rent a house in niagara falls new york, there is ...
By: Mel | 24-09-2008
I rent a house in niagara falls new york, there is no lease agreement. How much can they raise my rent legally. And how much notice am i entitled to?
Security deposit retun
By: LTP | 24-09-2008
If the rental property was sold to the tenant are the landlords responsible to return the security deposit?
Mother of 3, Seeking Assistance wiht Rent
By: Help me Please in College Park, GA | 23-09-2008
I live in Collge Park, GA and I am a single mother of 3. My family resides in Chicago but for the most part I am unale to look for help from anyone. I lost my job in August due to the business closing down and now since I haven't been able to find any work, I was trying to find out if there was anyone who could assist me.
Q&A Powered by: 
Latest Real Estate Articles
Why is Cyprus Such a Great Investment Opportunity?
By: Hannah Walker | 15/10/2008
The wheels of reconciliation have been set in motion as determined peace talks begun at the beginning of September '08 to once more attempt a reunification between the north and south of Cyprus. Since the Turkish invasion in 1974, Cyprus has remained divided and dominated by hostility. Now, despite the...
Cyprus: A Backdrop to Your Investment
By: Hannah Walker | 15/10/2008
With the recent peace talks underway and reunification on the horizon, even more people will be encouraged to invest in Cyprus, the largest island in the Mediterranean, situated south of Turkey and East of Greece. The Cyprian economy is set to soar after peace is made between the northern Turkish...
Lease Commercial Property London
By: Matt Grimes | 15/10/2008
Leasing commercial property in London is a whole different ball game from leasing commercial property in other areas of the United Kingdom.
Why Buying Smaller is Better
By: Keith Cook | 15/10/2008
However, the fact remains that many of these foreclosures come from people taking out huge adjustable mortgages on huge homes with an inadequate income to deal with the interest. Once the interest rates changed, those people could not hope to afford the payments. It could all have been avoided with the purchase of a more modest home and a fixed-rate mortgage.
A New Home Gives Space to Blending Families
By: Keith Cook | 15/10/2008
For children, home is a symbol for survival and nurturing. Their roots are there, their friends are there, and their favorite play spots are there. Moving can be a very emotional experience for children as they must say goodbye to the base that they've had all their life.
Omaha, Nebraska Flat Fee MLS
By: Donald Plunkett | 15/10/2008
You have a million different choices when it comes to listing your home in Omaha. There are big name and boutique brokerages of all shapes and sizes: CBSHOME Real Estate, NP Dodge, Coldwell Banker, Remax, Prudential, Deeb Realty, Century 21, and many others. Some have just a few...
Investment Property in Montenegro is Definitely One to Watch
By: Carole French | 15/10/2008
Known for its spectacular scenery and A-list visitors, Montenegro is fast becoming the place to be seen. Add impressive capital growth and possible EU accession, and investment property in Montenegro is definitely one to watch.
Mallorca Property for Sale Raises Investors From the Europe
By: Nick Stuart | 15/10/2008
When you have thought to invest in Mallorca property for sale, you can start making sure you buy in the right location according to your needs.
More from Bruce Roberts
Rental Real Estate Tenant Woes and How to Solve Them
By: Bruce Roberts | 24/09/2008 | Real Estate
Sick of tenants calling you in the middle of the night? Tired of cleaning up an apartment that's been left dirty? Done with painting over walls that have been painted a deep purple? Dreading having to chase down a delinquent tenant every month?
If you're experiencing some serious rental real estate...
Renting A House Versus Renting An Apartment: The Pros And Cons
By: Bruce Roberts | 06/06/2008 | Real Estate
From growing families to space concerns to parking, these are all things to consider when making the decision between renting a house and an apartment. For a breakdown of the benefits and disadvantages of both rental arrangements, keep reading.
The Benefits of Renting a House:
1. More space, including outdoor space. Typically,...
Save Money By Renting Instead Of Buying A Home
By: Bruce Roberts | 31/05/2008 | Real Estate
In the classic and ongoing argument of benefits for renting versus owning, advocates for home ownership always say that when you own a home, you're paying yourself every month and building equity. What they neglect to take into consideration is that with the money you save by renting, you could...
House Swaps: Better Than Renting
By: Bruce Roberts | 24/05/2008 | Travel
For your next vacation or sabbatical, have you thought about the prospect of a house swap? Wondering exactly what a house swap is? For answers to frequently asked questions about house swaps, keep reading.
1. What is a house swap?
A house swap is a straight exchange of houses between two homeowners...
The Benefits Of Renting Over Owning
By: Bruce Roberts | 09/05/2008 | Real Estate
While home ownership allows you the chance to build equity, decorate how you want and own your own home, sometimes renting can actually be the wiser financial choice. In addition, renting a property reduces your own workload for home maintenance. To learn about the many benefits of renting versus owning,...
|
|
Finance 
