In the U.S., approximately 37% of renters live in an apartment. While apartments are the obvious choice for many people due to availability and living space, are condos a better option for you to rent?
Don’t worry, with this guide you can find out! From the pros to the cons, you can decide if you would rather live in a condo or an apartment.
Now, are you ready to get started? Here’s an in-depth look at condos vs. apartments:
The Pros and Cons of Renting a Condo
Pro: Easier to Negotiate
Condo owners tend to be easier to negotiate with. Since they’re open-minded about the price, you have more negotiating power, which you can use to save money.
After all, not all condo owners are looking to put money in their pocket. In fact, most condo owners just want to cover their taxes, mortgage, or other finances that relate to the condo. They might want to move to a bigger house or travel. Thus, they might be looking for a tenant who will take care of the property and cover their ownership/management costs.
One perk of living in a condo is the attractive list of amenities. For example, some condos have a pool, gym, and a large outdoor space where you can perform yoga or relax in the sun. In addition to these perks, some also have business centers equipped with computers and printers.
Finally, condos may also have community activities and events for their residents. If you enjoy these amenities, just do some thorough research, and you can find a condo that offers you all the amenities you’re searching for.
Since your landlord probably manages the unit independently, you can’t necessarily rely on an onsite building engineer or management company to take care of small repairs (like drain clogs, electrical issues, appliance malfunctions, etc.).
Not all condo owners will pass these financial responsibilities to the tenant, however, it would be wise to look over your lease to better understand what exactly you’re paying for.
Con: Possibly Inexperienced Landlords
You’ll likely find a number of inexperienced landlords when renting a condo. Since condo owners don’t necessarily deal with tenants on a daily basis, they might not be the most prompt to talk to you about your frustrations or understand how to handle certain situations. Such inexperience can be irritating, especially if you need something done quickly.
The Pros and Cons of Renting an Apartment
Pro: Simple Rent Payments
Apartments complexes are pros when it comes to rent payments. Since they utilize online portals, you can pay rent easily and efficiently.
You don’t have to write checks or visit the bank. Instead, apartment complexes make it simple; that way, you can pay rent anywhere.
Pro: Maintenance Services
Maintenance services are one of the best perks of living in an apartment. Since services are available 24/7, if anything goes awry with your apartment appliances, repairs are just a phone call away. You don’t have to worry about finding a local company to repair your heater or fridge; instead, maintenance will do it for you.
A few condo associations, like The Radius in Logan Circle, employ an on-site engineer that makes repairs for the building. That perk is seen more often in larger condo buildings, and not all condos offer this service at all. Apartments will typically be a better bet for ease of repairs to the unit.
But the best part is, you don’t have to pay an extreme amount of money for a single repair. Instead, you pay a small fee, which is usually included in your monthly rent bill. Thus, apartment living could end up being less expensive due to the amount of repairs you don’t pay for in full.
Con: Size and Personalization
Some of the biggest drawbacks to apartments are size and personalization. Apartments are typically smaller than condos and even other rentals. They tend to have a set format where you don’t have much selection of layout types or appliances.
In fact, due to its generic style, there’s less room for personalization. Apartments may have strict rules about the overall appearance of the space. Therefore, you may not be able to change the paint colors or switch out large appliances like the dryer or the microwave.
In a condo, there are still some restrictions to which you must abide, however, condo owners tend to be more flexible about making the space yours. You can usually customize a condo more, especially if you plan to be there for an extended period of time.
Con: Pet Policies
Apartments are not always the best space for pets. Depending on the apartment, you might not even be allowed to have pets at all. However, if you’re allowed to have a pet, your apartment complex may still have restrictions on the breeds you can have and the number of animals per apartment.
However, it can be costly. While price differs from complex to complex, apartments generally have a deposit fee, a monthly fee, or both.
Condos Vs. Apartment: Which One Is Better For You?
Deciding whether to rent a condo vs. apartment can be a tricky decision. However, it’s important to choose what’s best for you. After all, do you want a small generic space or a larger customizable one with various amenities, all for a flexible price?
Here at ClearCondos® condo information services, you can find a condo without jumping through unnecessary hoops. You can simply click on the area you’re interested in, then browse through available condos until you find the one that’s right for you.
Now, if you’re interested in purchasing a condo in D.C., check out our selection of curated favorites. We look forward to helping you find your long-term home.
What are you waiting for? Get shopping; your dream home awaits!