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Renting a House vs. Renting an Apartment
|
|
House |
Apartment |
| Deposits
(Initial) |
usually one month rent or first and last month rent | usually 50% or less of monthly rent |
| Electric | if the house uses gas then deposit will usually be $80 to $150 depending on estimated gas usage | Apartments do not use gas |
| Water | If a new account is set up, deposit can be between $80-$150. | No deposit generally required if you have had an account in good standing for a year |
| Gas | If a new account is set up, deposit can be between $80-$150. | No deposit generally required if you have had an account in good standing for a year |
| Phone | If a new account is set up, deposit can be between $80-$150. | No deposit generally required if you have had an account in good standing for a year |
| Appliances | Houses may not always provide appliances including refrigerator or stove. | Apartments come with appliances such as dishwasher, refrigerator and stove. Other appliances that may be supplied include washer, dryer and microwave |
| Residential maintenance |
Maintenance
of a house is subject to the responsiveness of the owner. Some
owners are "self maintenance", which means they take
responsibility for maintenance themselves. Other owners keep
a homeowners maintenance policy which requires that the renter
pays the first $50 of any maintenance issue. This is usually an
indicator of a responsible owner in that a contractor will come
out immediately to fix the problem.
Regardless
of the maintenance issue, the renter is responsible for paying the
rent as long as the owner is attempting to fix the problem in a
timely fashion.
|
Apartments have a maintenance staff. When you rent an apartment, all maintenance is taken care of in a timely fashion with no charge to the tenant. All maintenance procedures are spelled out clearly in the lease agreement prior to you moving in. |
| Landscape maintenance |
Houses
landscape maintenance is generally the responsibility of the
tenant.
This means the tenant will need to purchase a lawnmover and tools
or pay for landscape services.
|
Apartments maintain all landscape maintenance. |
| Amenities | Houses generally do not have much in the way of amenities | Apartments may have amenities such as a pool, hot tub, clubhouse and media center. Some provide free DVD and VHS loaner programs. Some provide high speed internet connections. |
| Lease terms and conditions | Houses generally only offer a 1 year lease. | Apartments may allow as little as a 3 month lease term but generally the miinimum is 6 months. Some apartments may allow you to lock in your rent rate for as long as 24 months. |
| Overall quality | A house will provide a yard and some distance between you and your neighbors. | For the same amount of monthly rent and less deposit, an apartment will generally be newer, better maintained and with more amenities than a house |
| Totals = 1yr at $1,000 per month | House
$12,000(rent) $2,000(initial deposit) $320(Utilities deposit) *$1,500(appliances) $50(maintanance fee) **$520(Lawn maintenance) $16,390 *-est. cost of used appliances **-est. cost of lawn care for 12 months.
|
Apartment
12,000(rent) $500(initial deposit) $320(Utilities deposit)
$12,820 |
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 |
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