...People Living In Apartments...

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I will ask a few questions here, directed towards mostly those who live/have lived in apartments. I have always lived in a house and don’t know much about apartments.

My first question would be: I know that you have to sign a lease (6 month or 12 month). What does that mean speaking in terms of rent? Does that mean the rent will stay the same price throughout that period and will not go up? Or can it go up during that 6-month or 12-month period without any reason? What happens when you renew your term? Do they give you a hard time (can they ask you to leave even if you’ve been a good renter) or does the rent rate generally go up?

I have friends who live in apartments but they have all been living for less than 12 months so I don’t know if their rent will go up at the end of 12 months every year.

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Re: ...People Living In Apartments...

it depends on the state, u may want to look at rental laws in the state u are moving to.

I have not had to pay mid contract term raise ever, but
the rent has almost always gone up when a new contract is being signed
as far as landlord asking u to leave..

I would advise that u rent a townhome from a private party than get an apartment in a rental community.

u get more bang for your buck, and the neighbourhood is usually better.

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Re: ...People Living In Apartments...

Rent remains the same during the lease. If they want to increase it, they will inform you. They have every reason to deny, but if you have been good with your rent and stayed away from complaints than you are in good books.

They want to make sure that rent will be on time and the person will not be a problem for others.

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Re: ...People Living In Apartments...

When the rent does go up, generally by how much? $25, $50, or more? Yeah it depends on how much the rent is ($650 in South vs. $1,200 in North) but on average how much?

I will be investing in a house soon but for the time being I want to live in an apartment (wanna get away from mowing the lawn!) and in the meanwhile I will learn what the best areas are.

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Re: ...People Living In Apartments...

between 5-10% usually,

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Re: ...People Living In Apartments...

Rent will go up if there is a change in management or they want to re-decorate the place. It depends, what I have seen $25-$75.

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Re: ...People Living In Apartments...

rent is constant thru the contracted term - but you need to read your contract and ask anyway.

after the lease is over, and you need to re-new the lease - the rates USUALLY do go up.

You might want to talk to people living in the apt complex and ask them how much it typically goes up every year, to get an idea.

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Re: ...People Living In Apartments...

shikra notethat u are in a bad renters market, withthe real estate meltdown there is more demand for aprtment rentals, ppl who would have usually bought, or those who had previously bought are not going to apartments.

but the real estate issues can helpu too. ppll like u can be a beacon of light for someone who bought a property to flip and is stuck...if they sell they will sell at a huge loss and they would rather rent it out even if that means negative cash flow for them for the time being.

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Re: ...People Living In Apartments...

Hmm......over a couple of years this may not be too bad. I will try my best to apply the rent money towards a house as soon as I can. Yes there are benefits of living in a apt. but I personally believe the rent money can be utilized better by purchasing the house, especially when you credit score is 800+ and you have the income.

Thanks. Talking to the residents is a good idea.

Another question: What are some of the things/services included in the rent? I know most of them have water bill included. Almost all of them have fridges and some even have microwave ovens. I believe if something breaks (not due to your fault) like water leakage etc., they have the maintenance guys that can come fix it. My brother's apartment even changed his air filter for the central AC. Any other things that may be included in the rent? Things that aren't?

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Re: ...People Living In Apartments...

X2 has a point. Unless you had a lease, you are in a great position to negotiate. New renters are more likely to face scrutiny because there is just too much demand. They can reject and live with it.

It is however great approach to do it for time being.

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Re: ...People Living In Apartments...

What about purchasing the house? especially when the wall street journal prime rates are coming down pretty fast. I believe that would mean lower monthly payments. I know a few bankers and I can get quotes. The only reason why I don't want to get stuck in a house is because I am lazy and once I move, I wouldn't want to move for at least a few months, if not years. So I want to do my homework and find the best place where I want to buy a house, keeping schools etc. in mind.

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Re: ...People Living In Apartments...

I'll mow you lawn for free ...just pay for gas and food :p
**
Get a town house ....Little extra but Much better than just apartment.
Ever since i moved to US i've been living in apartments......I like houses but i find apartments worry free....( i.e maintenance issues and kitchen area furnished... ... you get you carpet cleaned for free.....get your apartment repainted every lease renewel......
**

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Re: ...People Living In Apartments...

Water and garbage is free. Fridge and oven is there. If it breaks you can contact the authorities to fix it. Same goes with heat. Some have heat paid and wireless so you don't have to worry about it. Others have water, heat, internet and cable included with bill. All you have to do is pay electric.

Basic is water and garbage free. Others you have ask.

Goodbye ghairat
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Re: ...People Living In Apartments...

That's good to know. What are some of the other things that naive people like me would be missing out on? Get carpet cleaned, get the place repainted, what else?

In South, heat/AC is central and in all apartments. So if the AC is free, then the heat is free as well.

Timepass
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Re: ...People Living In Apartments...

sorry for my next word..

gadhay..

dont worry about school districts for now,
u have no kids, u probably will not have kids in school for a number of years
so u want to buy a starter, a new couple house or townhouse..which will be bought by other young couples when u sell..who like u do not care about school districts

better school district means higher local taxes, why do u want to subsidize other ppls kids education :)

so, buy in an area that is more focused for young professionals, when u have kids and when they are school age then move.

unless the difference is minimal and u would rather just get in at a lower rate and stay there.

it is an excellent time to buy btw, go for new construction and the builders will throw in tons of upgrades for free.

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Re: ...People Living In Apartments...

I would suggest that Shikra should move into Appartment complex and see if he can find a 6 month lease

You move to a brand new city, there are so many unknowns and you dont know what will hit you

Find a good appartment complex who can offer 6 month lease. Look around for those 6 months and then figure out if you wnat to renew, move to a town house or rent a house

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Re: ...People Living In Apartments...

AC/ heat same thing. You have to ask, some actually mention it.

Carpet cleaning, painting is done after you renew your lease, which is about 6-12 months, but you have to clean the place really well when you leave. They have something called security deposit to ensure that when you leave the place is same as they gave you.

Moreover, try to find out about the place. Go to their website or third party to see the reviews. Single and bachelors all have to worry about rent and how far it is from work. Most of the time they can care less what others are doing in the next apartment, but with family you have to find out. How secure is the place? Entry and exit. Some have timing for locks.

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Re: ...People Living In Apartments...

:D Kids thing may be sooner than I think, under a lot of pressure from parents here but that's a whole different story. My hope that the pressure will decrease once I stop seeing them everyday :D I will get a quote on the payments from the bankers and if it's around the same price as the apt., then I would rather start paying towards the house.

That's what I am thinking because once you buy a house, it's not easy to move immediately. Even 12 months won't be that bad. Before the rent goes up, I can wave them goodbye.

Those are some good suggestions. I will surely keep them in mind.

Thanks everyone, I will be coming here with more questions once I think of them :D

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Re: …People Living In Apartments…

hainnnn you mocking me… :5:… amaa shikra mian hum student log 300 to 400 carpet cleaing per zaya nahin ker saktey when we can get it done for free so why waste… sam thing for repainting the apartment…

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Re: ...People Living In Apartments...

Yaar I am not mocking :D I really don't know and I am a poor man too. If I can get something for free, why pay for it?