Renting a space has many advantages. A renter has a lot of flexibility. The renter can simply decide to go somewhere else to live if they please. The renter is also not tied down by a huge financial investment that may fluctuate from year to year. Renters are also able to avoid problems should something go wrong. If something does go wrong with their place such as a broken pipe or water damage, they can contact the manager and ask that it be fixed. For many people, renting simply makes sense financially. However, before choosing to rent, several important questions may need to be answered first. Perhaps the most important is that of renting a house or renting an apartment. In many parts of the country, it’s easy to find both a house and apartment for rent. The choice of which particular space to rent will depend on many varied factors. These include the renter’s budget, the size of their family and other considerations such as any pets they may own and the area where they live. Each choice should be carefully considered. It’s best to take some time and view at least several apartments and houses in the local market.
Perhaps the most important factor in any decision to rent is the amount of money the renter wishes to spend. Rental markets are very varied. In some parts of the country, a renter may expect to spend upwards of a fourth or even a third of their income just to rent a small room. In other parts of the country, a renter will spend far less. The same is true of the housing stock. In some parts of the country, a house and apartment for rent can be widely different. Renting a house can be much more expensive than renting an apartment. A house of any kind with a backyard can be double or even triple the rent of a one bedroom apartment. In that case, the potential renter should think about their budget. In general, a house will have more amenities than an apartment. The renter will typically have access to a nice yard, more than one bedroom and a dining room as well as a kitchen. If these are important to you, then you might want to think about increasing your rental budget so you can have the kind of interior and exterior spaces you truly want.
Another factor that may make the difference in choosing between a house and apartment for rent is the renter’s family size. A single person with no kids will have different needs than someone with three small kids. An elderly older gentlemen will also have different housing needs than a young couple. Each person should think about the type of rental housing they want. For an older person, access to medical services may be of paramount importance. In that case, a small apartment in a complex that caters to those older than 55 can be ideal. A parent with lots of active children will need to have a rental that allows for at least two bedrooms or even more. In that case, that person may be far better off renting a house rather than cramming themselves into a smaller apartment. For those who are just starting out in life, the need to save money can also be highly important. Spending less money on housing costs can help you save money for a down payment of your own. A single bedroom apartment or even a studio can meet all of your housing needs at minimal cost.
Location of the Rental
As property managers in Wayne, we know that housing stock can be varied. Some areas have more housing for rent than others. In some parts of the country, rentals of any kind are very rare. A house and apartment for rent may not always be available in your chosen neighborhood. We know as a property management company in Wayne that some areas simply do not have any apartments for rent due to zoning laws as well as other considerations such as the size of the houses in the area. In other cases, apartments may be the only form of rental housing available. If you want to rent an apartment, you may need to stick to certain areas. If you prefer a house, you might have to consider only certain neighborhoods. It’s best to have a good look at the areas you are considering before making the choice between a house and apartment for rent. You might also find housing complexes that are a cross between a house and an apartment. A condo can fit the bill. Many condos are in the form of a townhouse. So you get access to a common yard and you also get the ease of apartment living at the same time.
Multiple other factors will go into your rental housing decision. For example, if you have a larger dog be aware that it may be very hard to find an apartment for rent that allows you to keep the dog in the apartment. In that instance, renting a house may be your only choice. When renting a house, you are often dealing with a single person who owns it. This means that you are working with someone who may or may not allow you to renew the lease because they want the space for themselves or they want to sell the house. By contrast, if you are renting an apartment, you are typically part of a larger complex with many other renters. In that case, the apartment may be rented out all the time and you may be able to count on staying there as long as you decide to rent. Parking can also be a huge consideration. If you commute by car, you may or may not have a designated parking spot in an apartment. In contrast renting a home usually means you have one or more places to park legally.