If you are someone who is interested in renting a townhouse or luxury apartment but you are not sure where to start, then you are in the right place. A recent survey showed that 25% of rental residents were renters by choice, meaning there are clearly some great benefits to joining or staying in the growing rental market. Here are a few things you should look for while perusing potential apartments or townhouses for rent.
Tips for Finding the Right Rental Townhouse or Apartment for Yout
1. Calculate an appropriate and reasonable budget.
You want to make sure your future townhouse is financially feasible. Luckily, in a survey, greater than 50% of renter respondents reported that it was easier to live within a budget while renting and was less stressful to rent. Furthermore, creating a realistic budget before you start looking for a townhouse will keep your search focused and organized, minimizing time you will have to put into touring later. Do not forget that your rent may or may not include extra expenses like utilities, wifi, trash, water, or sewage. Talk to your rental company about what is included in the rental price before deciding on whether or not the home is within your budget. Consider making a monthly budget based on your current or projected income so you can pick how much money you would like as disposable cash for personal luxuries, and determining an appropriate monthly base rent from there.
2. Determining amenities you cannot live without.
Are you a gym buff that would utilize a 24-hour fitness center? Do you enjoy the outdoors through hiking or walking trails? Are you looking to keep your children active with a local park or playground? Do you have a dog, cat or other animal and need pet friendly apartments as options? Maybe you enjoy participating in sports and you would benefit from basketball courts or swimming pools? All of these luxury amenities are possible to attain by renting. Make sure your future townhouse community has access to all of these must-haves by making a wishlist before you start touring. This will allow you to systematically rank apartments based on your specific preferences and ultimately help you come to a final decision.
3. Finding the right property management company or individual.
In the U.S. there are 42.58 million housing units occupied by renters, with a projected, by Harvard’s Joint Center for Housing Studies, 4 million new renters starting in the next decade. These large numbers mean that property managers have a lot going on all the time. Your future home manager will be responsible for maintaining the grounds and fixing any complications that may arise. Make sure you find a rental company or individual who you get along with, as these people are vital to your continued happiness with your home.
4. Location, location, location.
First and foremost, you should settle on a location before beginning the search process. It is important to be in an area that you think is safe, and that is also close to work, school, and family or friends. Perhaps you are interested in a gated community for added security or want an apartment on a higher floor. These are all crucial aspects of daily life that should be accounted for while choosing a townhouse. Do not forget to take pictures while you tour! These will come in handy as you continue to narrow down your choices.
Finding a townhouse or apartment is stressful and there are a lot of things that you should be considering before making a final decision. Using these tips will help you stay organized as your tour future homes and are a good starting place as you begin this important process. Do not forget that it is okay to change and update your wishlist and budget as your style, situation, and preferences change over time. This fluidity in the decision making process will only help you find the perfect home. With enough thought, you will definitely find a place that suits your needs!