Published on October 2nd, 2017 | by Home and Family0
Four Factors to Consider When Apartment Shopping
You are in the market for an apartment. However, when you pull up the available list of apartments in your city, you are probably overwhelmed with the options. Most cities have numerous apartment complexes. Each of these complexes has different price points, amenities, and rental requirements. These are some of the most important characteristics to look for in luxury apartment rentals.
Price for the amenities offered
If you have already decided that luxury apartment rentals are for you, you have likely already accepted that they are going to be more expensive than regular apartments with few amenities. However, it is important to decide which upgraded amenities are actually worth the increase in price. Think about what is most important to you. Do you want luxury apartment rentals that are newer? Do you care more about location? Do you want an apartment complex with many onsite amenities? Figuring out these features will help you make your rental decision.
You will also want to consider a rental price that you can afford. When renting, consider how much you can afford to pay and follow the rule not to exceed 30% of your monthly income. You will also want to factor in the costs associated with moving in. You will have to pay for a credit check, moving costs, and a down payment. Landlords also require a security deposit to insure against damage requiring repairs, delinquent rent, broken leases, and other incidentals. Many states limit security deposits to 1.5 times monthly rent.
Is the location convenient?
Choosing luxury apartment rentals based simply on the amenities offers may not be a smart decision. If your apartment rental is a far drive from your place of employment, you will find it unpractical. The average American moves about 12 times in their lifetime. People most often move because of a change in employment or relationship. Always try to find something that will make your daily commute easier.
Do you require a furnished apartment?
If this is the first time you will live on your own, you might also have to factor in the costs of furniture. Furniture can be expensive, especially if you currently have nothing. Fortunately, some luxury apartment rentals also come as a furnished apartment. This means that your rent also includes the rental of the furniture. However, you will be required to keep it in good shape and might have to replace it, if any damage occurs. If you require a furnished apartment, make sure include this in your search features.
Pet friendly apartments
One of the biggest restrictions of apartments is concerning pets. Not all apartment rentals are pet friendly. You can be prohibited from owning or even bringing a pet into a non pet friendly apartment rental. If you require something that is pet friendly, make sure to also include this in your search terms. Also, keep in mind that you might have to pay an additional pet fee and pet security deposit. Most pet friendly housing was found to charge a separate pet deposit. The average pet deposit was between 40% and 85% of the rent. Failing to notify the landlord of your pet can result in high fines and the risk of being evicted.
Apartment rentals are a great option for many. They are a short term living arrangement that gives you sufficient space to live at an affordable price, without requiring that you purchase the space. If you are currently searching for an apartment rental, it can be helpful to narrow down your search results. Look at the specific amenities needed, the cost of the apartment, the location, what is included in the rent, and whether or not you need something that is pet friendly. These characteristics will help you choose an apartment that meets all of your living needs.