Given the high costs that come with purchasing a home or an apartment, most people start their independent lives by evaluating renting a house vs apartment. As your career grows and you start a family, you may want to save more and buy your own house/apartment. Regardless of the socioeconomic forces affecting many people today, the choice to rent a house or an apartment is always very personal.
When you work with a firm like ours, all your properties will be managed in a professional way. We are a property management company in Palm Beach Gardens. We offer our services to property owners who like professionals to manage to their properties. This takes away the stress, and now you can focus on other important issues and watch your business grow to another level.
Our managers are also experienced in marketing properties. They have written so many ads and know what to say, when, and where to advertise so that your property can get a large pool of candidates in a short period. They know how to get you the best prices for your rental apartment or house. They get to manage rental collections, meaning you won’t deal with your clients directly. They will also handle the evictions on your behalf.
Are you wondering if your clients would like to rent a house or an apartment? Have you evaluated the pros, cons, and relative costs involved in both cases that can influence their choices? Let’s take a look at all the factors that affect renting a house vs apartment:
Factors to Consider When Debating Between Renting a House Vs. Apartment
Required Living Space
In most cases, renting a house affords a customer greater living space compared to renting an apartment. There are more rooms, more bathrooms, and the living rooms are often big. All the floor space in a rental house is always greater than the corresponding apartment rooms. So if a customer needs more space, they will likely choose a house over the apartment.
The monthly rates for both an apartment and house are definitely different. If you compare the monthly rent in one area, for both options, you will notice that apartments are more affordable. This means most people who don’t have big families will opt for an apartment. But when the housing market gets flooded with homes to sell, most property owners put up the homes for rent rather than selling them. This changes the game altogether. So again, the rates will decrease, and people will also consider renting these homes. Since prices are determined by the supply and demand, you will have to consider these trends since potential customers will be evaluating them too.
Often, apartment rentals feature low utility bills than home rentals, thus they save money more. The apartment walls are thicker and heavily insulated. Although the main reason behind this is to dampen the noise from the next apartment, these walls increase the cooling and heating efficiency.
Even though exceptions are there, most rental houses have more amenities than apartments. If amenities like dryers, washing machines, and dishwashers are essential to a client, they will most likely opt for houses and not apartments. Nevertheless, if you own an apartment with such amenities, potential customers will consider it too.
Renters will always compare the pros and cons of renting a house vs an apartment. Here are some basic pointers they always consider:
Renting a House: Advantages & Disadvantages
Advantages of Renting a House
- A house offers more room including outdoor space such as a garden/yard. If a client has kids, pets or a lot of possessions, the extra space will be a great incentive.
- Although most apartments will have a parking spot, most old urban apartments don’t. If a customer owns one or more vehicles, they will most likely opt to rent a house.
- A house affords residents more privacy. No neighbors will be listening via the walls or complain about loud music or footsteps.
Disadvantages of Renting a House
- Most houses are rented by owners who often tend to ignore the rights of tenants.
- More space and size comes with its drawbacks: a big house will need additional maintenance. There are more floors to vacuum, more windows to wash, a bigger lawn to mow and a huge garden to tend.
Renting an Apartment: Advantages & Disadvantages
Advantages of Renting an Apartment
- The outdoor and grounds maintenance is usually taken care of since it’s a shared space.
- The management of apartments is better. This means residents don’t have to deal with the property owner directly unlike when renting a house.
- Apartments tend to be located at prime locations near cities, unlike homes that tend to be located in more outer-city or suburban regions.
Disadvantages of Renting an Apartment
- Apartment living is not suitable for people who like to be in quiet environments. There are other families or people staying on all sides.
- Apartments don’t provide enough storage space
- Although a resident may be clean, having a dirty neighbor could mean sharing the effects of their dirtiness. For instance, if your neighbor has roaches, the pets will eventually find a way to get to your apartment no matter how hygienic you are.
Reasons You Need the Services of a Property Management Company
Whether you possess a house or an apartment for renting, a qualified property management company will add significant value to the investment. For instance, through our property management company in Palm Beach Gardens, we can screen all the tenants before they can occupy your property. This way you will get reliable tenants who:
- Rent longer
- Pay on time
- Subject your property to less wear and tear
- Less likely to cause problems
We also get thousands of applications from potential tenants who would like to rent houses or apartments. You also get to shield your properties from common rental scams that are always directed at property owners. This kind of experience and knowledge our property managers in Palm Beach Gardens offer will go a long way in growing your business. Try our services today!