Renting a condo is full of perks, but can also come with their drawbacks. If you have a landlord without much experience working with tenants, you may have to be patient and work through issues as they arise. Apartment complexes are in the business of working with tenants on a daily basis. Renters enjoy confidence that their property management will take care of issues and are knowledgeable about the process.
Meanwhile, a brand new landlord may be entirely unaware of what a tenant may need, ask, or expect from them. Another potential drawback are HOA fees, which are determined on a case-by-case basis. Double check your lease to find out who is responsible for the HOA fees. In addition to HOA fees, you may be responsible for maintenance fees. Your condominium landlord will decide whether or not to offer repairs or pass those costs onto the tenant. You might be able to negotiate repairs ahead of time, or request that the landlord take on the financial responsibility.
Under the care of corporate apartment management, you can expect streamlined trash pickup and other services. Complaints and repairs are handled with a specific process, such as filling out a maintenance request which then goes through the proper channels. Just like condo owners, apartment landlords have a vested interest in keeping their properties in the best condition possible and reducing tenant turnover.
Maintenance services are typically available around the clock in an apartment complex. If anything is wrong with your appliances, the resolution is a phone call away. Management delegates repairs and concerns to professionals who will fix it for you. Apartment complexes typically offer online portals for rent payment. With easy online access, paying your monthly rent is quick and easy.
Apartment communities typically have amenities such as shared laundry rooms , gyms, or outdoor pools. Upscale luxurious apartment buildings may even boast tennis courts or a doorman. Apartments tend to be smaller than condos and other rentals.
There are many rules regarding appearance and upkeep, including which paint colors you can use on your walls. Painting your walls bright blue or knocking out a wall to make your closet bigger could lead to a hefty fine. Tenants cannot request cosmetic upgrades, like stainless steel appliances, and are required to live with the amenities provided, unless otherwise agreed upon. Apartment space is often limited and isn't ideal for large dogs that need plenty of room and exercise.
Many multifamily apartment communities also have restrictions on breeds, weight, and size. Finding a condo can be challenging, but it's a worthwhile endeavor when you land the condo of your dreams.
That's the million-dollar question you'll have to answer to finalize your apartment budget. Coming up with the number will require a bit of math on your part. If you want to skip the math, use our rent calculator to determine how much you can afford to pay in rent each month.
Knowing what you want out of your condo is the first step toward narrowing down your options and ensuring that your final list of condos meets your needs. A renter's preferences in apartment amenities will vary depending on their unique situation. So, you need to consider your lifestyle when coming up with your list of desired apartment amenities. For example, if you are an exercise buff, an on-site gym and an in-unit washer and dryer are considered must-haves when searching for a condo. Be sure to consider your commute when looking for a new condo, unless you prefer the life of a super-commuter.
Amenities: Because condo and apartment buildings tend to be structured similarly — either high-rise buildings or just a few floors — they often come with comparable amenities. Think about what amenities are most important to you, such as a doorman, a pool, gym or greenspace, and compare what the various communities in your area offer. Location: Location is an important factor when deciding where to live. Both types of buildings can be near places of business, restaurants, parks and more.
HOA rules : When considering an apartment vs. Apartment landlords can also dictate what renters can do inside their unit and might restrict activities like hanging art or painting walls. On the other hand, condo owners can generally decorate the inside of their home however they choose. Who is a condo best for? Condo pros Affordability — For first-time homebuyers or those who want to downsize, condos can be an appealing option due to their lower prices. Walkability — Many condo communities are in proximity to shopping, recreational areas and transportation.
If walkability is important to you, a condo in this type of location could be a fit. These can increase over time, and they are typically based on the amenities the condo association offers. You might not have a say, for instance, in how you landscape.
Who is an apartment best for? Low or no maintenance — In general, your landlord is in charge of maintaining the property while you rent it. Proximity — Apartment communities are often located in or near city centers, with easy access to restaurants, shopping and more.
Apartment cons Fewer perks — While some apartments come with a community pool or recreation area, they might not have as many facilities available compared to a condo. Noise — Depending on where you rent, you could find yourself living very close to your neighbors, which can come with noise or privacy issues. Townhomes are larger structures that are frequently on more than one level whereas apartments are typically located on only one. The right option for you will depend on your finances, how long you plan to live in your current location, how prepared you are to take on a mortgage, and how important it is to you to build equity through property ownership.
Alternatively, if you plan to rent a condo, you are likely someone who appreciates having a one-on-one relationship with your landlord. Florida is known for its beaches, relaxed way of life, and balmy weather. But what many people might not realize is that this state should be known for its affordability, too. The housing market today is incredibly competitive. Move-in ready homes that have the updates and amenities people want are often getting snapped up in a single day - and receiving multiple offers over asking price.
Not surprisingly, some homebuyers are unwilling - or unable - to play that game. According to data released by Zillow , U. Fewer homes going on the market paired with more people looking for homes led to bidding wars and skyrocketing home prices across the country. Condo vs. If you are looking to stay in one place long term, a condo is likely the best option. Apartments generally come with a basic roster of amenities, such as one parking spot, on-site laundry, free maintenance, and maybe a gym, or access to an outdoor pool during the summer.
Condo amenities vary a little more since the amenities available depend on what kinds of amenities are administered through the HOA. In larger condo complexes, you can expect such amenities to include a concierge, gym, pool, lounge, and outdoor areas. Typically, the maintenance of these shared amenities is an expense shared by everyone in the building, in order to ensure the highest quality upkeep, while owners are responsible for repairs inside their individual units.
The cost of renting an apartment or a condo is relatively similar, although because condos usually come with several more high-end appliances, the cost may be slightly higher—you get what you pay for, however, when you opt for a condo.
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