Clients often ask whether they should rent a condo or rent an apartment in a rental community. The unit space is usually the same, the pricing is similar, but if you look closely enough, you’ll find dramatic differences.
1. Security deposit
In a typical condo, tenants usually have to come up with three months’ rent in order to sign the lease (first and last months plus a security deposit). As opposed to a rental community, in which tenants usually have to pay first months rent plus a small deposit. On a typical $2,500 monthly rent, the move-in cost could range from $3,000 to $7,500. That’s a big difference!
If you’re renting a condo and the A/C breaks in the middle of a Saturday night, good luck trying to get in touch with your landlord. However, if you experience the same situation in a rental community, a quick call to the front desk can get you the assistance you need ASAP.
3. Move-in conditions
This is where you can find the biggest difference between renting a condo and renting an apartment in a rental community. Keep in mind that condos are owned by different, individual owners. This means that flooring, appliances, wall colors, and more will vary depending on ownership. Rental communities are uniform in style and conditions – with the building sometimes applying fresh paints for new tenants.
There are several points to consider when deciding whether to rent a condo or rent an apartment in a rental community. But the most important factor to consider is whether or not you love the unit you’re about to rent. After all, you will be spending a considerable amount of time there.
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If you’re looking to rent or buy in Brickell, let us help you find your home in the neighborhood. Feel free to contact us directly at firstname.lastname@example.org