For renters, the main decision after making the choice to rent is whether you rent an apartment or a house. While both have their benefits and drawbacks, there are some distinctive benefits to renting an apartment that you will want to consider. Here are some of the “pros” of apartment living that will make it the choice for many who are in the market for a new rental home.
- Better Location
For those who need to live in or near a big city, apartments tend to be the more centralized rental option. If you want to live within walking distance of coffee shops, restaurants, and public transportation, you almost certainly need to be considering an apartment.
- Professional Management
While there are single-family rental homes that are professionally managed, this is more likely to be the case if you rent an apartment. Single-family homes may have less experienced landlords who simply wanted to make some money or could not sell their home and had to rent it, but an apartment is likely managed by a pro. This can mean quicker responses when you have a need and better overall maintenance of your home.
- Better Amenities
Do you want a gym, pool, pet exercise area, pet spa, or meeting space? You aren’t going to find these in a rental house. You probably will in an apartment community, depending on where you shop. If these types of amenities are important to you, an apartment is the right choice.
- 4. More Affordability
When considering cost of rent per square foot of living space, apartments tend to be slightly cheaper. This is because the landlord can get multiple units out of the same amount of land, whereas a house takes up more land space for just one rental unit. In addition, your maintenance costs will be less, because some of the maintenance, like mowing the lawn, that a house renter may need to take on are covered in an apartment rental contract.
- Lower Utility Bills
Finally, any utility bills the renter is responsible for will usually be lower in an apartment. The way apartments are built and insulated makes this true. Also, landlords are more likely to shoulder the utility bills in an apartment versus a home.
As you can see, there are several benefits to renting an apartment over renting a home. As you make this rental decision, consider your needs and future goals, and you will know which one is right for you.