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    3 Bedroom Apartments or Houses for Rent: Which is Better?

    1 year ago · · Comments Off on 3 Bedroom Apartments or Houses for Rent: Which is Better?

    3 Bedroom Apartments or Houses for Rent: Which is Better?

    Given the choice, would you go for 3 bedroom apartments or houses for rent in the city of Farmington Hills, MI?

    Although you might have a rough idea of which option you would prefer, it isn’t easy to decide whether to rent a house or an apartment.

    On the one hand, going for a Farmington Hills house might come out as the best idea, due to having more space and rooms. However, Farmington Hills apartment rentals also come with several advantages, including lower costs and a closer location to the city center, along with other nearby cities, such as West Bloomfield.

    average apartment rent - farmington hills apartments

    There isn’t a wrong or right decision for choosing between renting an apartment and renting a house, in Farmington Hills, MI. Due to many people having different housing needs and financial circumstances, it all depends on the situation for each individual.

    Let’s go through the similarities, differences, pros, and cons involved when choosing between renting a house and a 3 bedroom apartment in Farmington Hills, MI. In the end, you should determine the best option under your personal circumstances.

    3 Bedroom Apartments or Houses for Rent

    Whether you’re on the search for a house or a 3 bedroom apartment to rent in Farmington Hills, MI, there are several things that you should keep in mind.

    For instance, using map data 2021 Google to search for rental availabilities in Farmington Hills, MI would help you locate a house or 3 bed apartment with ease. You should also have in mind amenities that you want, such as parking, air conditioning, and a washer/dryer.

    Hopefully, the pros and cons of these two options, that we’ll discuss below, will make your work easier. Nobody wants to search and select a 3 bedroom apartment in Farmington Hills, MI and find out later that they should’ve chosen a house to rent instead.

    Without wasting any more time, let’s go through the pros and cons of both options in Farmington Hills.

    Pros of Renting a House

    Let’s look at why going for a house to rent can be a wise idea:

    Privacy

    If you’re a private person, a house is ready to offer that rather than a 3 bed apartment. With a house, there is extra distance from your neighbors, thus improving your living conditions in the process.

    Most two bedroom and 3 bedroom apartments in Farmington Hills are developed with thinner walls and, therefore, making it easier to hear noisy neighbors. If you love having packages delivered, it would be more secure in a house setting as well, compared to a 3 bed apartment.

    average apartment rent - farmington hills apartments

    If you decide to settle in an apartment rental, you will have less control over your own privacy. You also have a little influence on choosing the type of neighbor you want to stay next to.

    For instance, imagine living closer to a neighbor who has a daughter with a habit of playing drums at night. This isn’t a pleasurable experience.

    Extra Space

    One of the main reasons you should select a house over a 3 bed apartment is because a house offers you more room and space.

    If you happen to be someone who hosts relatives and friends often, you may have them stay for a night or two. A house won’t only offer an extra room for your furniture to host your guests, but also it provides an exclusive outdoor area to entertain.

    For instance, with a house, you are likely to host an outside event or a BBQ during summer if you’ve got an extra outdoor area.

    If you own a car, you will also have your own private driveway and parking space, maybe even a garage.

    There is also space for air conditioning, a washer/dryer, and pets.

    Achieve Your Hobbies

    When you rent a house, you don’t have to worry about disturbing neighbors. You can comfortably take part in hobbies and leisure activities.

    For instance, you can go on to play musical instruments, if it’s your thing, without worrying about disturbing your neighbors. Going for a house will make more sense if you’re into sports in the backyard as well.

    Family Living

    Farmington Hills houses offer enough space that is conducive for growing your family.

    You’ll have no worries about your children running towards your neighbor’s door and disturbing them in the process. The house setting is also safe for your children.

    Potential to Purchase

    One major benefit of renting a house is that if the house appeals to you, you’re able to contact property owners and talk them into a rent-to-own agreement. A rent-to-own agreement is ideal if you rent a house, but wish to own it in the future.

    The good thing here is that a certain part of the average rent goes to the property’s purchase price, eventually. With a 3 bed apartment, you can’t purchase it.

    Renting a house could offer you a chance to own it one day.

    Potential to Sublet

    If your house owner allows you, it is possible to rent a certain room out in your house.

    This will let someone else contribute towards your monthly rent, thus, reducing your overall expenses.

    Space for Pets

    When you decide to rent a house, know that you’ll have enough space for your pets to roam, including a private back yard. This is good news, especially for those who have a big dog.

    Space for Pets

    Cons of Renting a House

    Here are reasons why renting a house won’t be a good idea:

    More Chores

    With more rooms and more space comes more effort to keep everything in shape.

    For instance, an outdoor space could expose you to more yard and grass to keep tidy. If you rent a house in cold weather, you will have to shovel the walkway and plow the driveway as well.

    These may not be pleasant chores, especially for elderly people.

    Less Convenience

    One important factor in choosing between a house or a 3 bedroom apartment to rent is location.

    With a house, you are likely to be in a location that isn’t close to downtown areas or entertainment centers. Instead, you will get a house that is located in the suburbs.

    Bottom line is that you will have to travel longer distances to access restaurants and shops.

    Landlords

    If you rent a house, you might get into more problems with the landlord.

    The owner might have only that single property to rent and, therefore, have little experience dealing with tenants. This might raise disputes over simple matters.

    This is why it’s important, while conducting your search, that you contact property owners and vet them well before renting a house.

    More Costly

    When you search the rent trends, you will find it very evident that renting a house is more expensive than going for a 3 bedroom apartment. There are also additional costs incurred on maintaining a house.

    Pros of Renting an Apartment

    There are several cases where a 3 bed apartment could be better than renting a house. Let’s explore the pros and cons of renting an apartment:

    Less Expenses

    Generally, you will find it more affordable to live in a 3 bedroom apartment than renting a house.

    Cityscape with residential buildings in late autumn

    Apart from the average rent being reasonable, you’ll also get a chance to pay for fewer rooms. There are also lower costs in utilities, and some are often included in the monthly rent.

    Walkability

    Apartment buildings are located closer to convenience stores and entertainment centers. On average, you’ll walk just a shorter distance to get to where you want/need to go.

    There are tools, such as online walk scores, that measure distances for you when you determine how far you’ll be required to walk for certain things, even before you rent. When you conduct your search for listings, these web property sites provide scores on how drivable or walkable the distance can be.

    Flexibility and Convenience

    Living in a 3 bed apartment will provide you with more flexibility, especially when moving from place to place. This comes in handy, especially if you have a job closer to the city.

    While conducting your listings search, you will find that there are also some apartments in Farmington Hills for rent that are fully furnished, thus saving you the moving time and costs.

    Perks and Amenities

    Most newer 3 bedroom apartments offer more valuable perks and quality amenities than you could ever imagine.

    This may be in the form of wireless internet, covered parking, and a fitness center on-site. You could also get air conditioning, an in-unit washer/dryer, a balcony, and a dishwasher.

    Less Maintenance

    Maintaining a 3 bed apartment is easier. The landlord will do much of the work for you.

    All you’ll have to do is to keep your house tidy and neat, nothing more. If a problem arises in your apartment, someone will respond for maintenance quickly.

    Cons of Renting an Apartment

    There are several reasons why it might not be wise for you to rent an apartment:

    Nuisances

    When you live in a 3 bed apartment, you will notice that you’re very close to your neighbors. This means that you might be forced to consume their noise, which you may not wish for.

    There are additional challenges as well, such as unpleasant smells and sometimes infestations. You’ll also sometimes encounter challenges such as leaking pipes from the unit above you, unappealing outdoor clotheslines, and lack of enough parking space.

    Less Space

    Although the smaller space in an apartment could save you on monthly rent and expenses, you may end up lacking enough space for your possessions.

    Rental Sign

    For instance, you could be forced to ditch some of your appliances and furniture due to a lack of enough room.

    If you are OK with such a situation, it’s right to donate your extra furniture to someone in need.

    Restrictions

    With apartments for rent in Farmington Hills, you may face restrictions and limitations to the improvements that you would wish to make. The chances of being allowed to keep pets in your apartment are also up in the air.

    It is, therefore, important that you understand the restrictions and rules of the community before settling on an apartment.

    Parking

    Parking is another one of the challenges for those who live in 3 bedroom apartments, especially if the apartment is closer to the city center.

    Many apartments don’t offer designated parking. Also, parking somewhere else could lead to your vehicle getting damaged, or even towed.

    When you search for an apartment to rent, you should prioritize parking.

    Preparing Financially to Rent an Apartment or House

    It would be best if you had your finances in place before you rent either a 3 bed apartment or a house in Farmington Hills, MI.

    One important thing that matters to your landlord is your ability to comply and pay your monthly apartment rent or house rent on time.

    If you get into a house or apartment in Farmington Hills, MI and realize that you might need to pay rent late, it would be wise to contact the property owners to inform them of such adjustments.

    Close up real estate agent with house model hand putting signing contract

    Most Farmington Hills landlords have a vetting process before accepting people to live in their property. This way they can help ensure that they are renting out to worthy tenants who will comply with timely payment of rent.

    Landlords achieve this by checking your credit score and history, along with verifying your employment.

    Before you decide to look for either a 3 bed apartment for rent or a house to rent in Farmington Hills, MI, you must have a sound financial standing. It isn’t worth getting in trouble with your landlord or damaging your credit.

    Better still, you should search all of the rentals in the city of Farmington Hills, MI by checking the Google map data 2021 and researching various zip codes.

    This research will give you a better idea on the best locations in Farmington Hills so you can get the best rental for you and your loved ones.

    The Apartment vs. Houses for Rent Argument: Final Verdict

    These two options, in Farmington Hills, MI, have their similarities, differences, pros, and cons, as we have outlined above.

    For instance, renting a house in Farmington Hills, MI will offer you more privacy, space, and overall peace. An apartment rental, on the other hand, will provide more flexibility, amenities, and fewer costs.

    Looking at the two in Farmington Hills, MI, renting an apartment is more economical and is overall the better option for the masses since they address critical issues to the median household income and working-class families.

    With that being said, the best choice is personal and depends on your overall wants and needs.

    Most tenants prefer a place with air conditioning, a washer/dryer, and a balcony. The bottom line is, go for an option that makes you feel at home.

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    What You Need to Know About Renting an Apartment

    2 years ago · · Comments Off on What You Need to Know About Renting an Apartment

    What You Need to Know About Renting an Apartment

    The information you need to know before renting an apartment can be somehow overwhelming. There are many questions that you need to answer before you rent an apartment.

    For instance:

    • Where can you apartment hunt for the best unit?
    • How can you qualify for your first apartment?
    • What does a rental agreement involve?
    • What ongoing expenses must you have in your rental budget?

    We all know that renting an apartment comes with a lot of demands. This guide will dissect this information for you.

    Here, we’ll focus on how to rent an apartment and the considerations to have in mind.

    What You Need to Know About Renting an Apartment

    There is a lot of information you need to know about apartment renting. Let’s go through them below:

    Where to Search for an Apartment

    There are many websites listing apartment complexes for rent. These websites make it easier to locate an apartment than anything else. They’ll also save money and the time to visit the apartments physically to find out basic information, such as apartment rent.

    However, even after finding an apartment online, you need to visit the location physically to ensure that it meets your standards.

    Below are some of the top sites to consider:

    • ApartmentFinder.com
    • Apartments.com
    • Zumper.com
    • Rent.com
    • HotPads.com

    Submitting an Apartment Rental Application

    When you come across an apartment that interests you, take an extra step to submit your apartment rental application.

    The application provides the property owner with the information they need to determine your qualification for occupying the apartment.

    Most applications require you to make a non-refundable application fee. Before completing your rental application, ask the property management about their income and credit requirements.

    Most landlords require a minimum credit score. They also typically have a certain income requirement, which varies based on location. However, most landlords require their tenants gross monthly income to be about 2.5 times their rent.

    This is also the best time to discuss any concerns you might be having related to qualifying. For instance, you can mention to the landlord issues such as an eviction record, criminal conviction, or pet ownership.

    The rental application covers personal information such as birth date, drivers license number, full name, recent employment, rental history, social security number, and contact information. Some landlords require you to even list personal references on the application.

    Below is a list of things that are typically required to complete a rental application:

    • Proof of identification (state ID card, passport, or driver’s license)
    • The property’s application form (signing the form authorizes the landlord to run a background and credit check)
    • Vet records for those having pets (for confirming general good health and vaccinations)
    • The application fee
    • Proof of income (bank statements or pay stubs for the past few months)
    • Some landlords require your previous landlord’s contact information

    What Landlords and Property Managers Consider During the Approval Process

    During the approval process, the landlord reviews your income to determine whether or not you can afford the rent. They will then review the credit history to determine whether you can pay your bills on time.

    The landlord can also run a background check, depending on your local laws, to see whether you have a criminal conviction. Finally, they can contact your references or previous landlord to confirm your responsibility and reliability.

    The landlord checks every applicant’s credit, income, and criminal background to ensure their personal property is in safe hands. Always keep this in mind while applying with a cosigner or roommate. Any issue with their application might prevent you from apartment qualification.

    Understand the Lease or Rental Agreement

    A rental agreement for lease is a document that states the terms and requirements of your rental apartment. It outlines critical information, such as late fees on rent payment, lease expiration date, rent due date, and how much rent is to be paid.

    It also lists the apartment rules and policies that govern how you behave while in the apartment. The apartment lease commonly involves policies on everything from keeping the balconies or patios clean to quiet hours in the apartment.

    The apartment agreement also documents some ‘what if’ situations. For instance:

    • Who should a tenant contact if they encounter a maintenance issue?
    • What will happen if your rent is late?
    • What happens if you break the lease?
    • Is it possible to renew your lease for a new term?
    • Can you add a pet during your stay?
    • Are you allowed to sublet the apartment?

    All these questions will be covered in the lease.

    It’s, therefore, critical that you read your apartment agreement well. Note down everything that you don’t understand and clarify it from the landlord later. Ensure you understand the lease before signing it.

    All signatures should be appended on the lease before you receive the keys.

    If you have a cosigner or roommate, ensure they’re available to sign the lease before or on the move-in day. This way, you won’t have challenges getting into the apartment.

    Budget for Unexpected Rental Costs

    Apartment renting requires more than just the monthly rent amount. You need to be aware of certain additional costs.

    For instance, there are certain upfront costs that you must pay before moving in as a first time renter. They include the rental deposit, application fee, and the cost of a moving truck or professional movers.

    First time renters are required to pay their first month’s rent in full before moving in. There are localities and apartments where paying rent for the last month is mandatory as well.

    If you own a pet, confirm from your landlord whether they require you to pay a pet deposit or monthly pet fee.

    You should also expect some unexpected costs from renting an apartment. Utilities, such as sewer, trash, and water, might be incorporated into your rent. However, in some cases, they aren’t included in the rent.

    In most cases, your rent doesn’t include internet and electricity. You should, therefore, include such costs in your monthly budget. There might be separate monthly fees for spaces such as storage units and parking spots.

    Consideration While Renting an Apartment

    Apartments are available in all setups, sizes, and shapes. Finding the best apartment for your family starts by defining your unique preferences and needs. Before you rent an apartment, you need to make a list of must-have features you need.

    Whether it’s your last or first apartment experience, finding the best apartment that meets all of your needs isn’t going to be easy. You should, therefore, keep the following considerations in mind while determining the best apartment:

    Apartment Rent Prices

    You should first ask yourself whether you can afford to live in the apartment. Here, consider whether the monthly rent is within your budget.

    You can conduct online research to determine the rental rates within the neighborhood. If you’re ready to pay a high price for a particular location, consider the different ways you can cut back your living expenses.

    You can also consider getting a roommate to share the costs. The apartment is a no-go zone if its rent is higher than other rentals within the neighborhood. Understand the market before searching for an apartment or negotiating the price.

    Quality of the Apartment

    Never trust all the beautiful pictures you spot online. Before you pay for the apartment, consider visiting the apartment in person. Inspect everything to ensure that the landlord is aware of possible repairs.

    You should understand that the landlord can always fix cosmetic issues, like scratches on the wall or broken blinds. However, deeper issues may indicate poor apartment maintenance.

    This is also the time to look for safety and health issues, including water damage, asbestos, bug problems, leaky faucets, dirty air filters, air conditioning systems, electrical problems, broken windows, mold, heat not working, lead paint, rust, and rodents.

    Landlord or Property Manager

    The landlord or property manager can either break or make your renting experience. You might end up in a rental nightmare if you get a bad landlord with no boundaries and bad ethics.

    To prevent such from happening, meet with your potential landlord before you rent the apartment. You can also chat with them over the phone to determine their level of friendliness.

    You can even consider asking the tenants in the apartment about their experience with the landlord.

    Roommates

    Before you move into your first apartment with roommates, we recommend that you get to know them better. There is a high chance that your roommates will also screen you.

    Remember that you don’t have to be a friend to your roommates, however you should respect each other. You should also ensure that you have a matching lifestyle.

    For example, if you don’t like loud music, but your roommates prefer loud music, your stay will be difficult. In such a case, you should avoid college students, since most of them prefer loud music.

    Neighbors

    Apart from your roommates, you need to consider your potential neighbors carefully. While meeting with potential roommates, you can ask them how the experience with their neighbors is. If the roommates complain about any neighbor, please RUN.

    Dealing with inconsiderate neighbors is frustrating.

    Neighborhood

    Before you sign a lease, we recommend that you walk around the neighborhood to understand the community. By spending time in the neighborhood, you’ll be able to assess the demographics and general age of the location.

    It would also help to investigate the safety and security of the area. To manage this successfully, you need to check sites such as the AreaVibes, NeighborhoodScout, Moving.com’s City Profile Reports, CrimeReports, Family WatchDog, The National Sex Offender Public Website, and SpotCrime.

    You can also consider whether the community contains specific rules. If you’re considering apartment communities with an HOA, you need to clearly understand their rules and expectations before signing the apartment agreement.

    This is also the time to look into the specific parking and traffic regulations in the neighborhood.

    Lease or Rental Agreement

    Before you sign a lease, you should find a lawyer or local realtor to look over the lease agreement and ensure that it’s a legitimate and standard lease. Go through the lease to ensure that it meets your needs.

    For instance, if you would like to sublet the apartment in the near future, ensure that the lease allows you to do it. Check whether the lease is a month-to-month, six month lease, or one year lease.

    The lease also outlines the date that the rent is due. It would help to check who is in charge of maintenance in case there is a problem as well.

    Most importantly, check whether the security deposit is refundable after the lease expires.

    Pet Policy

    The landlord should include the pet policy in the lease. If you have plans to get a pet or have one already, understanding the pet policy is critical.

    Ensure you confirm whether the landlord charges a pet deposit. Also check whether the deposit will be refundable.

    The lease might also outline the pet types allowed and their weight limitation.

    Utility Costs

    You should always understand the utility costs. Apart from the monthly rent, you might also be forced to pay for different utilities. Some utilities include electricity, sewer, air conditioning, water, gas, and garbage, amongst others.

    Some amenities may be included in your monthly rent. If you have any doubts, check with the landlord.

    Available Amenities and Features

    When selecting a new apartment, ensure you consider the available amenities. If you decide to rent in an apartment complex, ensure the amenities available fit your lifestyle.

    Some of the questions you need to ask yourself and answer include:

    • Do you need extra security or a doorman?
    • Is an elevator necessary?
    • Does the apartment have a gym, or is one located in the neighborhood?
    • How is the public transportation and commute system?
    • Are there shops and restaurants in the neighborhood?

    Some critical amenities you can consider include:

    ●       Swimming pool

    ●       New appliances

    ●       Additional storage

    ●       Private balcony

    ●       Fitness center

    ●       Playgrounds

    ●       Fire pits

    ●       Walk-in closets

    ●       Elevators

    ●       Grills

    ●       Furniture, such as coffee table and chairs

    The Bottom Line

    Even before you start the rental process of apartment hunting, you need to understand how to rent an apartment. After locating an apartment of your preference, you should prove to your potential landlord or property manager that you’ll be a good tenant.

    The key to getting approved for staying in an apartment is having a solid credit history and having enough money to afford the apartment. You may be forced to provide your credit report.

    It would also help to budget for extra monthly expenses that come with renting an apartment.

    To have a smooth stay in the perfect apartment, ensure you read and understand the rental agreement, and adhere to all the terms and regulations in the lease.

    We hope that you get the perfect first apartment at an affordable price.

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