Three Important Condo-Hunting Tips Every Potential Tenant Should Remember

Real estate financing

What’s the difference between a standard apartment and, say, state-of-the-art executive condominiums for rent located in the heart of the city? It’s kind of like that old quote from Mark Twain that the difference between the right word and the almost-right word is the difference between lightning and the lightning bug. In other words, it’s gigantic.

Regular apartments don’t typically offer amenities like swimming pools, gyms and sporting areas for tennis and volleyball. They often will be clustered up on top of each other inside large buildings, not affording you the opportunity for a small patch of grass in your front yard or other natural surroundings. But condos do. As a general rule, all kinds of condos — from the swankiest luxury condos for rent to the more conservative suburban suites — grant the renter access to a better quality of life than most apartments can.

That’s why finding the right condo can be a bit of a grueling search. They tend to be in hot demand and, as you can tell, it’s for good reason. Here are three tips to keep in mind when on the prowl for the right condo to rent.

1. Figure out which style of condo is right for you.

High-rise condos with doormen at the entrance. Suburban condos with front lawns and backyard space for barbecues. Luxury condos for rent in the trendy downtown district. When you’re on the hunt, you’ll have all sorts of condo types to choose from. It’s best to settle into the one you think will best suit your lifestyle now as well as the life you think you might be living two or three years from now (depending on the lease).

2. Better views mean more luxury now and higher resale value later.

Again, the higher up you are, the better the view. And the better the view, the more you’ll enjoy it — and so will the people after you. If you’re just a renter, you’re likely not too worried about the resale value. But if you choose a place with an enviable view, you’ll also be doing the owner a huge favor in helping expedite the process of finding someone else once you’re gone. Of course, it’s your decision to make.

3. Always know the rules and policies of the HOA.

The flip side to all the great advantages offered by luxury condos for rent but not by apartments is that you’ll have to pay into the homeowners’ association every month on top of your rent. This is so that your regular jobs around the place — painting, fixing leaky pipes, mowing the lawn, etc. — are all taken care of for you. Before you sign the agreement, be aware of any hidden fees that might be lurking under the surface.

For more information on finding the kind kind of condo that fits your lifestyle, talk to a local real estate agent today. See more:

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