Rentals Apartments

What is an apartment

An apartment can be described as self-contained suits of rooms designed as a residence or a room that occupies a part of the building and is owned by a particular person. Apartments may be either owned and kept by the owner or further rented out to a renter. The latter category of apartment is known as rental apartment.

The rental apartments also known as a unit is usually owned by the owner and further rented out to another person on certain terms and conditions, on a fixed monthly rental. The rental lease agreement also specifies the number of persons who can reside in each apartment. The owner of the apartment usually transfers the possession by handing over the keys of the entrance door and other house keys to the tenant, which is supposed to be returned back to the owner on vacation of the premises by the same.

Various types of rented apartments

The rental apartments can be of different categories. One with the cheapest rent and smallest size is known as a studio or an efficiency apartment. A typical studio apartment consists of a large room commonly known which are a combined living, dining and bedroom. A seperate section within the big central room is dedicated as a kitchen , with a separate bathroom. Apart from the studio or efficiency apartments, avrious other kind of apartments like two bedrooms and three bedrooms apartments are available. These apartments are further divided into furnished and unfurnished categories depending upon its location. Furnished apartments are available for rent, furnished with furniture and basic stuff where the tenant can move in without carrying any furniture. While in case of unfurnished apartments, tenants move in with their furniture with their household stuff. A separate dedicated area in the building is kept as a laundry which can be accessed by all the tenants. Basic facilities and amenities like water, heating system and electricity could be common for all the tenants or separate for each apartment depending upon the design of the building, its area and the time when it was built. Also, telephone connections are separate and optional and are billed separately from the rent payments. Its upon tenants to decide whether they would like to avail or not avail telephone facility. There are various other additional and optional amenities and facilities depending upon the size, rent and location of the apartment such as cable tv, parking space, air conditioner etc.

The rental apartments accordingly varies depending upon the facilities, location, condition, and size. Locality or the area of the apartment also plays an decisive role in deciding the rent of the apartment. Apartments, newly built in a very posh and expensive colony is always more than an old apartment building or a one, which is in a remote or bit backward area. The lease or rent agreement also depends upon the tenancy laws prevailing in that particular area.

Factors governing the rent of an apartment

There are many factors that govern a tenant’s choice while looking for an apartment. These factors includes: his or her budget, distance factor from work and family, familiarity with the area as well as the status of the apartment as in the apartment is furnished or unfurnished. Last but not the least consideration while looking for a rental apartment is the the time period of your stay ie how many months you plan to stay in that apartment. Incase if you don’t plan to stay there for a very long period than it would be of no use to consider a month-to month lease cycle. Also before looking for an apartment you need to decide whether you want to share your room or hosue with a roommate or not and accordingly search for a place fitting in your need. It’s always advisable to convey to your friends and family that you are looking for an apartment in the specified area. They might come out with some reference for you.

Looking for a rental apartment:

Looking for a rented apartment or looking for a tenant for the purpose of renting out the apartment is also done through various mediums and sources. The owner of the apartment can place an advertisement in the local newspaper or Internet or contact a local governor operating in the city. Brokers are usually people who act as middlemen for the owners as well as the tenants looking for a rented apartment. They work by charging a fixed amount of commission from both the parties and help them in finding a suitable tenant and apartment .

People who usually don’t want to get into hassle of searching an apartment or tenant on their own generally prefers going through the medium of a broker, who easily fixes everything for both the parties as well as prepare all the lease agreements, thus saving both parties from getting into all these troubles on their own.

There is another class of people, who usually don’t find it a very good idea to given commission to broker. In that case the best option is look for local area guides which usually advertise of the apartments available for the rent. The actual owners of the apartments who want to rent them out post these ads to be viewed by the tenants. Also both the owners and the tenants can look through various web sites that publish the various apartments along with the details, which can be viewed by the tenants, and accordingly they can contact the owners and discuss rest of the terms and conditions.

Likewise owners can publish their ads in these local websites along with their various details and terms, which can be than looked upon by the tenants. This medium helps both the tenants and owners from spending extra bucks as a part of the commission for the broker, but than it comes on them to advertise, follow-up and coordinate among themselves while fixing the deal.

Once the terms and consitions are finalsied between the tenant , the owner hand over the keys to the tenant and the tenant can accordingly move in on the decided date.

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