The Pros and Cons of Condo Renting

The Pros and Cons of Condo RentingAs many renters are aware, there are many different options and considerations to make when choosing what kind of dwelling you want to reside in. While a condo and an apartment seem comparable to most, there are actually many differences in terms of renting each. However, each requires a fair amount of preparation and research. Therefore, let us take a closer look at the implications of renting a condo to determine which would be a better fit for you. In addition, don’t forget to secure your belongings with a comprehensive Urbana Renters Insurance policy.

Condo pros

As condos are typically rented out by their owners, there is a lot of money and time invested in these properties. This means that the place is likely to remain in great condition and issues could be handled more quickly. Furthermore, there are traditionally more amenities offered by condo associations such as pool and lawn care, gyms, upgraded appliances and sometimes even a concierge, says Rent.com.

Condo cons

HOA fees are often associated with a negative reputation. While these additional fees are going to come out of the renter’s pocket, they work to keep the building, landscaping, and shared spaces looking fresh. Bear in mind that HOA fees are tacked onto rent, so that number should be factored into your budget. Further, condo owners are responsible for repairs. Depending on the preferences of the owner, these repair costs may trickle down to you as the renter. In addition, the HOA sets out rules on noise, parking restrictions, guests, and more. So, before signing on the dotted line, be sure that the stipulations are ones you can work with.

If you’re considering renting, make sure to protect yourself and your dwelling with a comprehensive insurance policy. Please contact us at Myers Insurance Group at (855) 534-5707 and we will craft a policy tailored just for you.

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