Apartments for Low Income

Questions and Answers

Your Questions About Renting An Apartment

August 25, 2013

Robert asks…

Are you more for Renting an apartment or Buying a house?

I am writing a persuasive essay and I am doing research and wanted to cover all grounds. I decided to come on here and ask for what your opinion is on this subject. Do you think renting an apartment is better than buying a house? Why or why not?

Administrator answers:

Buying a house is a much better alternative to renting an apartment, in my opinion. When you rent, you just pay someone else each month and really get nothing out of it but a place to live. Granted, having a place to live is pretty nice. However, when you own a home you get a place to live and when you pay your mortgage payments each month, you are investing in yourself… Not paying for someone else’ investment.

Even those large well known apartment complexes are someone else’s investment and you are just helping to make them money. Owning a home comes with a true sense of pride in ownership, independence, and sense of community. There’s nothing like it. Plus the tax advantages.

I used to work as a Realtor and I am a recent first time home buyer myself. I rented for a long time. I’ll never see that money again.

Anyway, I’m pro buying a home!

I hope that helps you with your essay a little bit.

Larry N.

Ruth asks…

Does renting an apartment affect your credit score?

I know a mortgage shows up on your credit but does renting an apartment?

Administrator answers:

As a general rule, no. They are not granting you credit so they do not report to the credit bureaus.

If you were to default on your lease and they needed to attempt collection methods to try to get you to pay it would affect your credit negativly.

Donald asks…

What do you need before renting an apartment?

What things do you need to have available before renting an apartment?…. like 2 months rent….proof of employment…things the landlord needs to see before he lets you rent the partment? Suppose you’re self employed…what do you show him/her?

Administrator answers:

It can really vary.

In college I rented a nice room witha private entrance, kitchen ect ect that was attached to someones house. All the guy said was give me a security deposit and first months rent and I could move in right away, assuming I signed a 1 year contract. No credit checks, income verificaion, references, ect.

Then you have some that require everything. It really just depends on the rules of the renter.

Michael asks…

Are there any benefits in renting a house, or should I keep renting an apartment?

My spouse and I will be ready to purchase a home in 2009. Right now we are still working on paying off taxes and bills. We will have a substantial down payment by then as well.

We have children and would really like a backyard for them to play in, that’s why we were considering renting a house for the next two years.

What are the pros/cons of renting a house, or should we continue to rent an apartment?

thank you.

Administrator answers:

1.) More space (interior & exterior)
2.) More privacy (less noise, fewer neighbors…)
3.) In some cases, more secure than an apartment building with a single entrance (but this is not true in all cases)
4.) Better parking (depending on location)
5.) A garden (possibly)

1.) More Expensive
2.) Fewer on-site amenities (in many cases)
3.) More maintenance (lawn/tree/garden & and interior)
4.) Location may not be as accessible in some urban areas (bus/subway).
5.) If you have a fear of isolation, the privacy may make you feel less secure. Also, fewer eyes to watch out for you (this may also be a good thing).
6.) Utilities will be significantly hire than in an apartment, however if you’re in an apartment where they’re spread across all the units, you may be subsidizing a utility hog. In a house, you only pay for what you use.

The most significant difference is the cost. If you can afford the house rent, I’d probably go with the house since the kids will probably greatly benefit from a backyard (so will your sanity).

Sandy asks…

What would be a base price for utilities when renting an apartment?

I’m looking into renting an apartment and I want to know what are some base prices beside the actual rent. Other prices include water, heating, electricity, internet, cable, etc…

Administrator answers:

This is something you have to ask the landlord when you look at the place. I live in Southern California, near the beach, and what I pay for utilities has nothing to do with what someone just twenty miles inland may have to pay, never mind someone who lives in the mountains or out in the desert.

Ask the landlord. Or, knock on the door of a couple of the units and introduce yourself as a prospective tenant, and ask the other tenants what they pay. (Bonus: they might be able to tell you about other problems the place has. When we were apartment hunting, at one place we had a tenant tell us we didn’t want to move into the place because one of the other tenants was dealing cocaine.)

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