Apartment-Rental-Guide.com: Apartment Guide Apartment-Rental-Guide.com: Apartment Guide http://www.apartment-rental-guide.com/apartment_guide/ Copyright by Apartment-Rental-Guide.com en Apartment-Rental-Guide.com Wed, 20 Sep 2017 16:05:18 -0400 5 Reasons the Toronto Housing Market Will Not Crash

There have been numerous rumors floating around regarding crash of Toronto’s housing market as numerous industry prognosticators are anticipating a crash. But, it is not going down anytime soon. Here are the top 5 reasons why Toronto’s housing market will not crash:

  1. For most the buyers, nothing big has changed

The Ontario Fair Housing Plan which was propelled on April 20th comprised of 16 unique methodologies to ensure that both home deals and home rentals are balanced between purchasers and merchants. The thing is, none of it will matter much for buyers that are, the individuals who live in Toronto and are purchasing Toronto lofts to live in. Verifiably low financing costs, a solid economy, and a consistent flood of new individuals and organizations moving to Toronto, are the factors which state that the housing market in Toronto is not going doing anytime soon.

  1. Foreign buyers contribute to a little portion of the market, and the level of taxes are not going to prevent them from purchasing in Toronto

Likely the most yearning piece of the Ontario Fair Housing Plan was 15 % which was imposed as tax on all the foreign buyers. At first glance it might appear like this will crash the market due to lack of foreign buyers, but in reality only a modest effect will be monitored. The latest estimation from the Toronto Real Estate Board says that 4.9% Toronto real estate buyers are foreigners. The 15% tax which is imposed may be little to less for the foreign buyers. So, the market is safe for business.

  1. The example of Vancouver

In August of a year ago, Vancouver executed the same set of standards as the Ontario Fair Housing Plan which included the 15 % tax which was imposed on foreign buyers. It unquestionably had an impact there at first, and like Toronto, Vancouver saw costs drop in real estate market. But from that point, things settled down, and now the market is steadily back to past levels with costs setting new records. Individuals who are purchasing and offering homes, Toronto lofts in Toronto are discouraged as various articles surface stating that Toronto housing market will crash, and it appears like each month there has been another article about how the Toronto housing market will crash. But such is not the case, as the example of Vancouver, the market is bound to be stabilized and progress by leaps and bounds.

  1. Buyer-friendly mortgage rates

Although the interest rates are increasing in Toronto which at first, may seem like the reason for the possible decline of the market, but the interest rates are increasing gradually. To maintain the market stability. Which will not overly burden the buyers. This could only be true if the unemployment rates were high as well. Which in Toronto’s present scenario, is not the case.

  1. The market activity- the supply and demand is steady

This is the most imperative factor here, as the absence of supply combined with a colossal interest for demand is the thing that has made the present real estate market where costs have soared. While the Ontario Fair Housing Plan has components that will expand supply, these won't be executed for quite a while, and still, at the end of the day aren't probably going to make enough supply to adjust the market. Toronto has the reliably positions as one of the best urban communities on the planet to live, so it's nothing unexpected there is such interest for buyers here. There are more individuals moving to the city consistently, and this number will keep on increasing. Unless there is any major spike in interest rates or mortgage rates and the demand is less than the supply, Toronto’s housing market is unlikely to crash.

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Top 15 Tips for First Time Home Buyers

Have you been shut out from the housing market? Well, now may be the time to buy property.

For the past several years, Toronto’s real estate market has been a seller’s one – people have been buying anything at any price. Ever since the province of Ontario announced a dozen new measures designed to cool the housing market and the Bank of Canada (BOC) raised interest rates for the first time in seven years, the Toronto real estate market has gradually transitioned into a buyer’s market, which is drawing in some first-time home buyers.

If you have finally leaped into the housing market for the very first time, then it is important that you prepare yourself, find a capable Toronto real estate agent and steer yourself onto the right course. Due diligence, research and patience are needed in this journey to homeownership.

Here are the top 15 tips for first-time home buyers:

  1. Save for a Down Payment Early

Once you know that you want to purchase property, it is important to start saving for a down payment early and trying to get that 10 to 20 percent that financial institutions require before being approved for a mortgage.

  1. Get Pre-Approved for a Mortgage

Prior to searching for your dream home, it is essential that you first get pre-approved for a mortgage. By doing this, you’re confident that you will have the funds to buy a home and you know how much money you have to find the right home for you.

  1. How Much Can You Afford?

When you’re in the market for a home, you always want to acquire a home that matches your income. For instance, if you’re making $75,000 a year, it is better to purchase a home that is around $300,000 to $500,000 instead of a home that comes with a $1 million price-tag.

  1. Budget for Closing Costs

Many first-time home buyers are unaware of this, but there are multiple costs you need to calculate before you get a mortgage. There are application costs, property transfer tax, title insurance, interest adjustment, legal fees and so on. You need to budget for this.

  1. Refrain from New Credit Activities

From the moment, you start your application to the time you get the keys to your new home, it is important to refrain from new credit activities. In other words, you shouldn’t get a new car, buy a new motorcycle or rent a home in Florida. Be quiet when it comes to your credit record.

  1. Look at Mortgage Rates

For the most part, first-time home buyers will turn to their bank for their mortgage needs. Although it may be convenient to do so, it may not necessarily be a prudent one. It would be better financially to look around at other lenders, which will offer a plethora of different mortgages – you want to get the best rates possible.

  1. Obtain a Seasoned Real Estate Agent

A growing number of home buyers are going the solo route. This is dangerous and should be avoided at all costs. Instead, it would be far better to obtain a seasoned real estate agent, who has all the information, details, contacts and experience to match you with your dream home.

  1. Never Get Involved in a Bidding War

You may have heard about your best friend or your spouse’s nephew who entered a bidding war that involved 23 people and drove up the price of the home by 32 percent. Well, don’t get involved in such a process and find something else. The reason is because you will eventually get a much larger price and it will become difficult to maintain.

  1. Request a Home Inspection

In today’s era of bidding wars, many home buyers forego home inspections and purchase the home as is to get it right away. Don’t do this. You must always request a home inspection so you don’t find any surprises – mould, leaks, a bad foundation – that will cost you plenty down the line.

  1. Try to Negotiate for a Better Price, Features

Not all of us know “The Art of the Deal,” but we should still try to negotiate for better prices and even features when buying a home. You always want to get the best bang for your buck.

  1. Find the Right Neighbourhood for Your Family

The neighbourhood can be just as important as the home you locate. You want a neighbourhood that matches your lifestyle. For instance, if you have a family, you want to be close to the best schools; if you’re single then you may want a home that’s closer to work or the downtown core.

  1. Determine What Type of Mortgage You Want

Are you getting a fixed-rate mortgage or a variable-rate mortgage? Are you applying for the maximum amortization period or for 15 years? You need to know what mortgage you want from the beginning.

  1. What Kind of Home Do You Want?

There are plenty of homes available on the market today: townhomes and detached houses, condominiums and semi-detached houses. It is up to you which one you want and which one suits your budget.

  1. Stick with Your Home – Don’t Look for Others

As soon as you find a home that meets the criteria of your checklist, you need to stick with it and refrain from searching for a better one.

For example, if the home you have meets your budget, has the right number of rooms and is located in a great neighbourhood, but it doesn’t have enough closet space, go with it and downsize just a tiny bit.

  1. Buy with Your Head, Not Your Heart

Finally, you must purchase with your head and not with your heart. Your head will encourage you to select the home with a modest price-tag and three bedrooms, but your heart will urge you to pick the home with a million-dollar for-sale sign and has the granite countertops and lavish basement. It can be easy to get sucked into the coquettish opulent home, but it is better for you to take the modest one instead.

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How To Pass A Real Estate Broker Exam The real estate broker exam is quite sophisticated. It is much more sophisticated than it should be, according to many professionals. You want to have a properly sophisticated approach if you want to pass the exam. Various strategies are available and you want to be sure that you are going to use one in order to increase the possibility of success. Also, you can easily go through real estate practice exams to help you. You can learn more about the practice exam on the internet.

Practice

One of the most important things to remember with the real estate broker exams is that you absolutely have to practice. When you do not practice you are faced with situations that simply cannot be understood. We are used to examinations but with the real estate exam everything is different than what we experienced in the past.

You want to be sure that you are going to properly practice. If you do not, you will fail. There are many practice tests available and it is not that difficult to find some that will help you to pass that exam.

Handling Exam Questions

When you are at the exam, you need a strategy to maximize the time that you have available and get the best possible result. One of the simplest approaches can be detailed with ease. Start with the questions that are really easy to answer and get them out of the way. Skip those questions that involve analysis or a lot of writing. Remain focused on those that you control and that can be solved fast. Do be sure that you skip questions you have no idea about since they are going to make you waste time.

After you answer the simple questions and you skip those that you do not know the answer to, it is time to focus on those questions that have analysis in them. Start with those that have the highest possible point value so that you do not have problems if you run out of time.

Dealing With Questions You Do Not Know The Answer To

What is really interesting with taking the simple approach mentioned above is the fact that in various cases the answers to the questions you did not know at first read become obvious. That often happens as the person taking the exam figures it out while answering the other questions. It is actually quite a normal response as the brain is stimulated by success and discouraged by failure.

After the response was written, it is a really good idea that you go over it again. That is because it is possible that you may have missed something. Also , in some situations the answers become even better as you write more following the reading.

Conclusions

Passing the real estate exam is definitely complicated but that does not actually mean that it is impossible. All that you really have to do is to practice and learn as much as you can. If you do that, success will follow and you will get the certificate you want.

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Top 5 Home Buying Mistakes to Avoid!

Image Credit: Pixabay

There are a lot of things that come up when you’re trying to make sure that you don’t miss out on anything when you’re buying a home. How can you make sure that you avoid mistakes easily? Are there ways for you to make sure that you don’t end up buying a home you don’t enjoy? When you’re looking at places like the Star Island Miami Beach FL Real Estate & Homes for Sale, how can you know that you’re getting one that is right for you? Here are the top 5 home buying mistakes you need to avoid.

  1. Don’t go in without knowing what you can afford. Investopedia focuses a lot on helping people to make the best investment decisions for their budgets. And while a home is a liability at first, it can turn into an investment as time goes on. So, make sure that you put together a budget that works and that is going to help you get the home that you need without straining your wallet too much.
  2. Don’t buy the first thing that you “fall in love with.” Many people make the mistake of falling in love with a home and getting “stuck on it.” There may be other homes that, when you take off the rose colored glasses, are much better and much more affordable. So, make sure that you go into each home that you’re considering with an open mind and ready to admit both mistakes and things that you love about them.
  3. Don’t be too picky. This is on the other end of the spectrum. Some people are just too picky about what they want. Don’t get stuck on details that really don’t matter in the long run, because it’s going to make it that much harder for you to be able to find a home that fits in your budget. You may not even find the “perfect home” If you keep that frame of mind.
  4. Don’t try to do it on your own. Trying to do this whole thing without an agent is a huge mistake. You want to make sure that you hire someone that can help you to understand what is going on and that ensures that you avoid any technical or legal issues in the process. By having that sort of advocate on your side, you can ensure that your investment is going to be one that you will be happy with when you move in.
  5. Don’t compromise on the “must haves”. If you plan on having a family at some point in the future, you want to make sure that you get what you need in order to house all of those family members. Don’t go for a home with three bedrooms if you are really going to end up needing four in the long run. There may be other things that are non-negotiable as well (crime rates, etc) – don’t compromise on those just to save some money, because you’ll be disappointed.
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What Should You Expect From A Storage Unit? If you need to store some of your belongings somewhere else, you want to be sure you are going to choose really good options. Let’s say that you are looking for Corona storage units. The first thing you will notice is there are dozens of options available. Which one is the best in your case? In order to make the very best possible choice, here are some things that should be found in storage units. This helps you to find exactly what is perfect for you.

Various Different Storage Unit Types

As you choose storage units you want to be sure that there are various opportunities that are available for you. In most situations the providers just offer one type of storage unit. What you are always interested in is diversity. Be sure that you gain access to the highest possible diversity. A good rule of thumb is to basically choose the unit that is great for you and see if you could get a bigger or a smaller one in the future from the facility as your needs become different.

Access To Functional Facilities

As you work with a highly reliable provider, you gain access to great facilities that will keep your belongings safe. The units should be state-of-the-art and not old or forgotten by most users. In many situations we see that people choose the storage options that are the cheapest. Often, this means that conditions are old. You want to be sure that you always store highly delicate items just in the facilities that allow you to be sure you would be able to have the protection that you need to have.

Storage Equipment That Is Reliable

Besides functionality, you should receive highly effective storage equipment to be included in the contract you sign. Valuables can easily be damaged during transport but when they are stored, that should never happen. As you choose a trusted provider you can be sure that storage equipment used to move items is something that is provided. The idea is that extra storage equipment included should increase the security of all the items stored in the units.

Staff

Besides all that is offered with the storage unit you want to focus on the staff that is employed. Storage service providers should hire just competent professionals. If the staff is really good you can be 100% sure that all the items you store will be kept safe.

Great Pricing

The last thing we should highlight is that storage unit providers need to offer highly competitive pricing these days. Budgets should always be considered, although this does not actually mean that you want to go for the cheapest option. The best thing you can do is think about how much money is available and then get the highest possible quality based on that budget.

There are many different storage units that you can choose from. Be sure that you consider just those that will surely guarantee that everything stored is safe. When this is not the case and you have doubts, you want to think about other options.

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Apartment Buying Vs. Renting: Why Rentals Come on Top

The majority of homeowners are often faced with the dilemma of having to stick to one option of selling their home. However, it doesn’t have to be this way always. How about you consider giving your home up as an apartment rental.

If your house is located in a prime location and you are seriously thinking about giving it up as an apartment rental, you need to take into the many things you need to prepare it for tenants.

To begin with, you need to get accustomed to the feeling of being a landlord by equipping yourself with the relevant management skills relating to the rental property. This will help you to fulfil the needs of your tenants better.

Remember, this is absolutely different than when selling your house. That is, while you may be happy with your home for years, the truth is that things are changing so fast thus, you need to understand the changing needs of the market to be able to customize your home to meet these needs.

This is the major reason why many people prefer to go for apartment rentals as opposed to buying a house. However, if you are set on selling your home quickly, you should not change your mind out of the pressure from the prevailing needs as you may regret later.

Some of the major advantages why apartment rentals are preferred over buying a house include the following:

  • The majority of apartments are situated within gated communities meaning better security. Living in a gated community presents the advantage of greater security for tenants and their families.
  • Apartments that are pet friendly will give your tenants the assurance that you can still have your pet as part of your family even in the new environment. This is a great motivation for many people to move into apartments.
  • Easy access to social amenities such as a sauna, a 24-hour fitness centre, walking and jogging track, laundry facilities, putting green, tennis track, heated pools, and spa and recreation centre make apartment rentals a better choice over buying a house. However, you could also consider buying a house in a location that is close to these social amenities including schools. Unfortunately, you may not have much control over location. Instead, you could use the positives associated with your property to sell.

When shopping for an apartment to rent, there are several things prospective tenants examine before they narrow down to their ideal apartment. Here is a list of things to consider when marking our apartment:

  • Is the apartment located in a safe neighbourhood?
  • What category of people are you targeting and will the house fit into their lifestyle?
  • Is your house located in a price location to make it an appealing option for apartment rental? Here, you need to think of proximity to entertainment and shopping destinations.
  • What incentives will you offer your tenants?

When buying your house, you are likely to be locked in a mortgage. If along the way things change and you have to make the crucial decision to sell your house or rent it as an apartment, you could consider the latter. While apartment rentals provide an easy and affordable solution, homeowners take care of everything associated with the home and are able to tailor it to your preference.

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Real Estate Auction Risks You Need To Be Aware Of Nowadays, properties can be bought in various ways. It is not at all that hard to find something that you will love. However, you want to think about the various options that are available on the market. It is really important that you will choose those options that will bring in the best deals. Since you are most likely looking for low prices, you will want to think about buying through real estate auctions.

The Foreclosed Factor

The most important thing that you have to remember about real estate auctions is that most of the properties available through these deals are actually foreclosed homes. If there is a homeowner that gets his/her property foreclosed, it might be quite bad. You need to be sure that you are going to buy a home that is in good condition or that is at least as great as it is presented in the auction.

Real estate auctions force you to pay in cash when you win a bid. In many cases you cannot even see the property. Because of this, you want to be careful and you need to only work with the companies that have a spotless reputation. Basically, you want to be sure that what you pay for is what you get.

Potential Redemption Period

There are some strict laws that have to be respected when dealing with real estate auctions. This is true for everything from commercial properties to apartments. For instance, buyers cannot fully own properties until a specific reclaim period expires. The period is different from one state to the next and from one country to another. As an example, New Jersey will allow ten days. In Tennessee the buyer has a redemption period of 700 days. Always learn about this since it can easily lead towards huge problems in the future as you lose a lot of time in the process. Always ask if the homeowners have redemption rights.

Buying Mortgages

This is something that many do not actually know about. There are some auctions out there that mask liens and mortgages that are present. In some situations the buyers will end up with a second mortgage and that can lead towards so many problems in the future. This is particularly damaging when dealing with online real estate auctions.

Structural Problems

It is always a really good idea to opt for non-binding real estate auctions because this means that you can actually inspect the property before you actually make the final payment. Have patience and look for the best possible opportunities. It is always a good idea to have a property inspection done before you actually commit to a deal.

Conclusions

On the whole, the experienced real estate investor will always take a close look at the auctions that exist on the market. It is something that can bring in a really great opportunity. Make sure that you never buy something that is bad. Unfortunately, many first time buyers make the huge mistake of purchasing a property that is great based on why you actually want to buy it in the first place.

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Great Tips for Travel Accommodations Are you planning a trip that’s on Your Bucket List? Have the fun of travel is planning and perusing all your options. After you confirm your dates, selecting accommodations is a huge part of travel planning. Follow these recommendations from the experts and you’ll be ready for the vacation of a life time.

All the experts agree that the earlier you book your vacation accommodations, the greater selection you’ll have and you’ll most likely be able to get the best rates. One of the more popular vacation accommodation options that’s emerged in the last few years is apartment sharing. If you’re traveling solo or with a partner, it’s easy to book a bedroom in a shared apartment. There are several websites that are designed specifically for home and apartment sharing. Make sure you connect directly with the owner and carefully read the reviews before sending any money. Unfortunately every online industry has scammers.

Another option for vacation accommodations are hotel rooms. From small boutique hotels to large resorts, the options are nearly limitless. Be sure to check the reviews for the hotels you’re considering; more often than not they’ll be frank and also provide bits of information that could be helpful during your trip. Confirm the price and location meet your needs. Often with hotels, the earlier you book the better rate you’ll receive. Determine if parking and breakfast are included in the rates. These items can add up quickly for a longer stay. Does the hotel provide a shuttle to the airport? Often, larger hotels in or close to major city will offer the services of a hotel concierge to help book restaurants, theatres and excursions. The concierge can be a wealth of knowledge; be sure to take advantage of their services if one is available. Enjoy your vacation and take lots of memories for your bucket list!

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What to Consider When Relocating Most people assume moving is easy. Just put everything in boxes, throw it on a truck and send it to the new house. Of course, those who have experience moving know it is not as simple as that. Relocating requires meticulous planning in order to get everything from point A to point B in one piece. One way to eliminate some of the burden of moving in Perth is to hire removalists.

These companies will have experience in home relocations and have the equipment necessary to complete any project. Before deciding to hire removalists, it is important to factor in a number of considerations that the move might require. This will help ensure the relocation process is smooth.

Determine what items are precious

Every household contains items that are deemed to be priceless. It is important to establish what these are and plan to protect them accordingly during the relocation process. This may require special packing materials or hiring trained removalists to take care of these items.

Determine what is rubbish

There is no point in bringing a bunch of rubbish to a new house. Establish what items can be disposed of prior to the relocation. Doing this will make sure the new house is free of clutter or other junk. In some cases it may be possible to donate these items or sell them in order to raise a few dollars which can go towards relocation expenses.

Understand if help is needed

No one likes admitting to or asking for help, but sometimes it is necessary. This is especially true during the relocation process. Most moves will require a truck and labour to get everything to the new place. It’s possible that friends are willing to help but sometimes a move can be too big for them as well. It’s best to determine what kind of labour and equipment will be needed and then organise assistance based on these requirements.

Prepare for overlap days

There will be some items that are essential to living and shouldn’t be packed. It is vital to set these aside so they are readily available during the last few days at the old house and first days at the new property. For children, these items could include teddy bears and blankets. For adults, phone chargers and work uniforms should not be packed. In addition to this, creating a survival kit can help eliminate multiple trips to the market. Having things like water, snacks and powerbanks on hand is a good idea during the move.

Setup the new location

In the craziness that a relocation tends to bring, it can be easy to forget to setup services and utilities at the new house. Be sure to schedule things like Internet, power and water ahead of time to avoid delays in having these services available. Also, don’t forget to have services discontinued at the old place to avoid paying bills for utilities not in use.

Moving can be stressful, but with Adlam Transport assisting in the relocation, the process will be smooth. With all-inclusive moving services available, packing materials, equipment and labour are taken care of. This eliminates the hassle and expense of buying boxes and packing everything while providing peace of mind knowing it is being handled by a professional.

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What to Look for When Renting an Apartment

Apartment hunting can be stressful, especially for those who are in a rush to find a place. There are so many options to consider, it can be difficult to remember the details you planned on asking before signing the lease. Unfortunately, those unknowns can come back to haunt you later, putting you in a complicated situation.

In order to find the best place available for you, here are a few things to keep in mind when looking for an apartment to rent:

Amenities

What amenities does the apartment complex come with—if any? Knowing ahead of time what is or is not included in the price of rent can help you determine if the apartment is a good deal. Most apartment complexes come with pools, access to guest spots, gyms, or community rooms, which can be utilized for parties.

For entertainment purposes, make sure to ask whether or not the complex allows satellite dishes so you can receive DIRECTV’s Entertainment package. Most complexes, if the apartments come with a deck, allow for satellite dishes; however, it is always a smart idea to check before signing the lease.

Do I Need an Agent?

In some cases, you will need a rental agent to help you find an apartment, as some complexes only deal with agencies. Certain neighborhoods and locations require an agent, which can be a costly expense. If you do need a rental agent, make sure you budget in their rate to your current expenses.

Decorations

Many apartments state in the lease that apartments must be returned to their original condition before you move out, which usually means that painting or doing any type of serious remodel work is out of the question. Should you want to paint the space or make any serious adjustments, you will most likely need to speak with the landlord beforehand. However, while looking at the apartment, ask the landlord or rental agent about the rules of the complex. Knowing ahead of time can help you decide if the place is right for you.

Renting to Guests

With the influx of websites like Airbnb, many people are interested in making some extra cash by renting out a spare room to vacationers, or even renting out their entire apartment if they are going to be out of town. In fact, for those who live in expensive areas, renting their apartment to vacationers actually helps them make rent each month. If renting out your apartment is an appealing option for you, double check on the number of guests you are allowed each month. Some apartments actually have parameters on the amount of overnight guests you can have. Additionally, some states or cities actually have laws prohibiting Airbnb, and sites like it, thus do your due diligence beforehand to ensure you are not breaking any laws.

Utilities

Some apartments have certain utilities factored into the rent. When viewing an apartment, make sure you ask what utilities are covered by rent and what is not covered. In most cases, water and trash are covered while electricity and gas are not.

Keeping these things in mind can help you find the right apartment for you and your lifestyle.

Image Source: https://pixabay.com/en/urban-appartments-building-city-1031304/

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Should You Rent A House Or An Apartment?

Deciding whether to rent an apartment or a house can be a very difficult decision for some renters. There are certain advantages and disadvantages to each option. The renter should carefully consider these points when making his decision. Whether or not an apartment rental or a home rental is ideal for a particular renter will largely depend on his personal preference as well as his current needs in a living situation. For some renting an apartment is perfect while others find a home rental meets their needs best. This article will examine the advantages and disadvantages of each situation to help readers make a more informed decision regarding the type of rental situation which may be beneficial to them.

The Advantages and Disadvantages of Renting a House

There are many advantages to renting a house as opposed to an apartment. One of the primary advantages is this situation affords renters who would normally be unable to afford to purchase a house the opportunity to live in a house for a much more affordable price. Another advantage to renting a house is it may offer the renter many more options. Apartments are usually pretty standard in terms of size, number of bedrooms and number of bathrooms. Renters who have specific needs such as five bathrooms and three bedrooms may have a difficult time finding an apartment with these specifications but may find rental homes which offer these options.

Location is often another advantage associated with renting a house. Apartments are usually situated in more commercial areas while houses available for rent can usually be found in more residential areas. Many renters favor this situation because it makes their rental property feel more secluded. Many house rentals also include a backyard which is desirable for renters with children or pets.

One of the major disadvantages to renting a house, is there may not be a great deal of certainty regarding the amount of time the renter will be allowed to rent the house. While a contract may protect the rights of the renter for a certain period of time, there are no guarantees the homeowner will extend the contract beyond the existing terms. This means as the contract is due to expire; the renter may be given notice that the house would not be available for rent in the future. Conversely, this situation is rare in apartments and most renters are confident there will be the opportunity to renew their lease each time it expires.

The Advantages and Disadvantages of Renting an Apartment

Perhaps one of the most significant advantages of renting an apartment is the amenities which are often available when renting an apartment in an apartment complex as opposed to renting a home or even renting an apartment in a private home. Amenities such as pools, hot tubs, exercise rooms, saunas, meeting rooms and theaters are just a few of the amenities often offered when renting an apartment.

Affordability is another advantage to renting an apartment. Rent for an apartment is usually significantly lower than rent for a house. Although the apartment may be significantly smaller than the house, many renters find they are only able to afford these options.

A lack of privacy may be one of the most significant disadvantages to renting an apartment. Apartments are usually situated fairly closely together and most apartments usually share a common wall with one of their neighbors. Renters may find their neighbors end up knowing a great deal more about them than they had intended simply because the living situation makes it difficult to keep one't life private.

Having to contend with noisy neighbors is another downfall to renting an apartment. As previously, mentioned apartments often share a common wall with a neighbor. As a result renters may run the risk of having noisy neighbors who listen to loud music or have boisterous friends visiting late at night.

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Tips for Finding a Rental Apartment Figure Out Your Needs

The first step of any apartment search should begin with the potential renter carefully identifying all of their needs in an apartment. This list of needs will be different for every renter. While some renters are simply looking for a place to eat, bathe and sleep other renters may be looking for a living space which will serve a number of purposes including working, entertaining and participating in leisure activities or hobbies. When making this list of needs the renter should consider the options they cannot live without as well as the options they want to have but can live without. It is important to make this distinction because the renter will want to ensure the apartment they choose has all of the features they need and ideally a few features they want. However, an apartment which does not have all the required features may become an uncomfortable living situation very quickly.

Do Your Research

Once a renter has a good idea of the basic features he is looking for in an apartment, he should begin researching his options. Researching apartments can be done on the Internet, through the newspaper or through rental magazines. Renters may use one of these research methods exclusively or may combine a few of the methods to form a customized strategy for researching apartments. The research phase will give the renter an idea of the types of properties available for rent in the area.

Comparison Shop

The next step is the process of comparison shopping. This basically entails visiting several different rental properties and touring these facilities. During the tour the renter will get a good idea of available options as well as the costs associated with these options. This is helpful for two very important reasons. First it gives the renter a good idea of the types of apartments available within their budget. Second it gives the renter the ability to bargain regarding price. Renters who have proof of other apartment complexes offering more favorable rental terms, may be able to entice another complex to lower their prices slightly.

Ask for Recommendations

Renters can also help themselves in their search for an apartment by seeking recommendations from trusted friends and family members. These recommendations can be taken to be much more worthwhile than recommendations offered by the apartment complex from previously satisfied tenants. It is important to note the apartment complex is likely to only offer testimony from tenants who were happy with their rental agreement. For this reason, opinions offered by friends and family members are much more valuable because they do not have a vested interest in the rental property and simply offer their honest opinion. Friends or family members who share your interests and personality traits can be very helpful in offering recommendations for apartments because it is very likely you will be happy with the apartment they recommend.

Consult the Better Business Bureau

Finally, renters should consult the Better Business Bureau (BBB) before making a final decision and choosing an apartment complex. This can be very helpful especially if the renter finds a particular apartment complex has a number of unresolved complaints against them. While a lack of complaints is not necessarily an endorsement, it is a good sign if the complex has been in business for number of years without a slew of unresolved complaints. ]]> Uncategorized http://www.apartment-rental-guide.com/apartment_guide/57181164.shtml http://www.apartment-rental-guide.com/apartment_guide/57181164.shtml Apartment-Rental-Guide.com Mon, 28 Apr 2008 06:00:16 -0400 Sharing a Rental with a Roommate The Advantages and Disadvantages to Having a Roommate

Having a roommate can certainly be advantageous in some situations. The primary advantage is financial. Renters who opt to have a roommate, essentially cut their rent in half if they opt to have one roommate or in thirds if they opt to have two roommates. This is ideal for renters who would like to have a larger apartment but would not be able to afford such an apartment without the assistance of a roommate.

Another advantage to having a roommate is the opportunity to share household responsibilities with the roommate. Of course this is only an advantage when the roommate is willing to do his share of the work on a regular basis. If this is not the case, it may result in a huge disadvantage which will be covered briefly in the section on disadvantages.

One of the most significant disadvantages to having a roommate is a lack of privacy. Those who live alone do not ever have to worry about not having time to themselves while they are in their apartment. However, when a renter has a roommate, there is no guarantee the renter will ever have any time to himself while he is in the apartment.

Another disadvantage to having a roommate is the distribution of household responsibilities may not always be even. Roommates should have a discussion regarding the household responsibilities such as cleaning the common areas but there is always the possibility that one roommate may not do his share of the work. When this happens it can create conflict and resentment among the roommates. This conflict can make the living situation quite uncomfortable.

Select a Compatible Roommate

When selecting a roommate, the renter should be careful to select a compatible roommate. In the previous section we discussed how conflicts can arise when one roommate does not do his share of the cleaning. However, incompatible cleaning styles are only a small portion of the compatibility issues roommates may face. One important issue is entertaining. If one roommate has visitors at the apartment often, it can cause problems if the other roommate is not comfortable with this.

Even the times in which the roommates normally sleep can cause problems. If one roommate goes to bed early and wakes up at 4:00 am, it can be problematic if the other roommate likes to stay up late and not wake up until 9:00 am. In this case the roommates may not only begin to get on each other't nerves but they may also begin to adversely affect the other't job or social life.

Include the Roommate on the Rental Agreement

Finally, renters should be sure to include their roommate or roommates on the rental agreement. This is very important because it helps to protect all of the roommates. Inclusion of all of the roommates prevents one roommate from being able to ask another to leave unjustly. This may occur when conflicts arise but inclusion on the rental agreement ensures each of the roommates has a right to live on the property. Placing each of the roommates?names on the rental agreement also prevents one roommate from not making their rent payments in a timely manner. It will also help to prevent one roommate from being held legally responsible for not paying the rent on time by the leasing agent. ]]> Uncategorized http://www.apartment-rental-guide.com/apartment_guide/57181091.shtml http://www.apartment-rental-guide.com/apartment_guide/57181091.shtml Apartment-Rental-Guide.com Mon, 28 Apr 2008 05:59:03 -0400 Saving Money by Renting While it is certainly true that money spent each month on rent does not get the renter any closer to homeownership while each monthly mortgage payment makes the homeowner one step closer to owning the property completely. However, this is not the whole story. Renters should also consider the amount of money they will be able to save annually for the purpose of purchasing a home by living in a rental property right now.

A Smaller Apartment Can Lead to a Bigger House

Some would be homeowners find renting a small apartment can allow them to start saving for the purpose of purchasing a house in the future. Renters who are willing to sacrifice comfort now and stay in the smallest apartment possible will likely be able to save the most money towards purchasing a home.

In general the monthly rent for an apartment is based on a value per square foot. This value may vary slightly from one property to the next but is likely to be very similar in properties in the same general area. This means apartments which are smaller in terms of square footage are likely to be less expensive overall. Therefore renters who would normally feel more comfortable and able to spread out might opt for a smaller apartment just so they can begin saving more money for their home purchase.

Budget Wisely to Save Money

Renters who want to save money for the purchase of a home while renting an apartment should understand their monthly rent is not the only factor which may prevent them from saving money while they rent. For example entertainment costs should carefully be considered when a renter is trying to save money. Most rental properties have a fully equipped kitchen making it ideal for the renter to prepare meals at home as opposed to going out to eat. Renters who cut down on eating dinner out may find they are able to save quite a bit of money each year.

Likewise renters who are spending an excess amount of money on superfluous items may have difficulty saving for a house while renting an apartment. Examining all current monthly expenditures can help the renter to determine where there is the potential for financial savings. Making changes such as debt consolidation may be one way to decrease monthly bills but this is certainly not the only solution. Renters can make other changes such as canceling subscriptions to premium movie channels, minimizing cell phone plans to include only the amount of minutes used each month and making changes to insurance plans to result in an overall savings. Changes to insurance plans may include having your car and renter't insurance covered by the same carrier. Many carriers offer discounted services to renters who are willing to bundle their services. All of these slight changes can help to enable a renter to save money for a home purchase in the future.]]> Uncategorized http://www.apartment-rental-guide.com/apartment_guide/57181046.shtml http://www.apartment-rental-guide.com/apartment_guide/57181046.shtml Apartment-Rental-Guide.com Mon, 28 Apr 2008 05:58:18 -0400 Rent to Own Some potential homeowners who are not able to purchase a home right away consider rent to own options instead. A rent to own option, often referred to as a lease, is essentially a rental contract for the rental of a property which includes the stipulation that the renter will be given the option of purchasing the property at the conclusion of the lease. This type of rental agreement may not be worthwhile for all renters but there are some who will find this type of agreement to suit their needs quite well. In particular renters with bad credit who might be unable to buy a home otherwise and renters who aren't quite sure they really want to buy a home. It can also be a worthwhile agreement for homeowners who are planning to sell their home buy may not want to sell it immediately.

When Your Credit is Bad

Potential homeowners with bad credit may find a rent to own situation may be just what they are looking for to help them purchase their dream home. There are a variety of financing options currently available and it is likely even homeowners with poor credit can find a financing option but it is not likely this option will be favorable. Homeowners with poor credit are often shackled with unfavorable loan terms such as higher interest rates, requirements to pay points and adjustable rate mortgages instead of fixed rate mortgages. In these situations, it might be worthwhile for the renter to repair his credit before attempting to purchase a home.

One of the best ways to repair credit is to maintain good credit in the present and into the future. Most blemishes on credit reports are erased after a certain period of time. Renters who have poor credit can work on repaying their current debts in a timely fashion and with time their credit score will improve. During this time participating in a rent to own program allows the renter additional time to repair his credit and may also allow the renter to accumulate financial resources which will enable him to purchase the home when the lease period is over.

When You Just Aren't Ready to Buy a Home

Some renters opt for a rent to own program when they aren't quite sure they really want to own a home. In these types of agreements, renters are given the option of purchasing the home at the end of the agreement period but they are not obligated to purchase this home. This allows the renter to see what it is like to own a home without having to commit to homeownership.

Renters who are renting a home may learn a great deal about homeownership during the rental period.This may include information about maintaining the landscaping of the property and dealing with conflicts with neighbors. They also may have to learn how to care for the home including making calls to Harrisburg roofing contractor, DePalma Construction. It may also entail caring for and maintaining a significantly larger domicile than most apartment renters have to maintain. Some renters are not quite sure they are ready to handle all of these issues and may use a rent to own agreement as a trial period to determine whether or not homeownership suits them.

When the Homeowner Just Isn't Ready to Sell

Some homeowners offer a rent to own option when they plan to sell their home but do not want to do so immediately. Some homeowners may be hoping for property values to rise before they sell their home so they can either regain the amount they have invested in the house or profit from the purchase price of the home. These homeowners might choose to rent out their home during this time and offer the renter the option of purchasing the house after a set time period. This enables the seller to earn an income from rent while they are no longer living in the home. The rent they charge to the renter is often enough to cover the mortgage and yield a profit making it a financially wise decision for the seller.

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Renting with Dogs Finding an Acceptable Living Situation

The first step in renting with dogs is to find an acceptable living situation. For those who wish to rent with dogs, the first question to be asked should be whether or not dogs are allowed to live on the property. This is important because it can save the renter a great deal of time. The renter may otherwise invest a great deal of time learning more about the property or even undergoing a credit check only to find out pet are not permitted.

For some dog owners, finding a rental situation which allows dogs is not the end of the search. The renter should also confirm the type of dog he owns will be allowed to live on the property. This may include both the size of the dog as well as the breed as some apartment complexes place limitations on the size of the dog and also prohibit certain breeds. Again confirming these facts early in the search for an apartment can be a tremendous time savings especially for those who own large or commonly banned breeds.

Renters should also consider the surrounding area when selecting a rental property. An ideal location would be one in which there is an adequate location to walk and exercise the dogs. Areas with large grassy areas may be ideal while areas which do not have a location to walk a dog may be problematic.

Read Contracts Carefully

Renters who have dogs should read their contract carefully before making a decision to rent a particular property. This is important because many landlords may impose restrictions on renters who own dogs. These restrictions may include, but are not limited to, requiring an additional security deposit for the renter, requiring specific cleaning methods on the carpets after the renter vacates the apartment and holding the renter responsible if the dog engages in nuisance barking. Nuisance barking can be a problem in apartment situations where the apartments are located close together and even share a common wall. Renters should be aware that in some situations, nuisance barking can be a cause for eviction. For these reasons, renters who own dogs should take the time to familiarize themselves with the rental contract.

Take Care of Your Rental Property

Finally, renters who have dogs may have to take additional efforts to maintain their apartment. This may include more diligent cleaning, especially of the carpets. Renters with dogs should respond quickly to accidents in the house to minimize the possibility of permanent staining and odors. Each accident should be addressed immediately and every effort should be made to clean the affected area completely.

Renters with dogs should also vacuum regularly especially if their dog is a heavy shedder. This will help to keep the living environment cleaner and will also minimize the amount of cleaning required when the renter vacates the property. Regularly vacuuming will prevent hair from being embedded into the carpet so deeply that it is difficult to remove.

Finally, renters with dogs should take care to pick up after their dogs while on walks and to keep their dogs leashed while in common areas. Many cities have leash laws and laws regarding picking up after dogs. Even if these laws are not in effect, renters should follow these policies as a courtesy to their neighbors. Additionally, keeping dogs on leashes during walks helps to ensure their safety by preventing them from running into the street. ]]> Uncategorized http://www.apartment-rental-guide.com/apartment_guide/57180960.shtml http://www.apartment-rental-guide.com/apartment_guide/57180960.shtml Apartment-Rental-Guide.com Mon, 28 Apr 2008 05:56:52 -0400 Rental Swaps A Rental Swap Saves You Money

For many a rental swap is worth considering because it can result in a tremendous financial savings. Lodging often accounts for a large portion of a vacationers travel expenses. By eliminating these costs the vacationer may find they are able to add additional aspects to their vacation. For example, by eliminating lodging costs, a vacationer may have money left over in the travel budget to see a few plays, eat dinner at extravagant restaurants or purchase tickets to sporting events.

A rental swap, however, does not always automatically translate to a financial savings. Consider the cost of staying in a hotel within walking distance to major attractions as opposed to participating in a rental swap 10-20 miles away from most major attractions. In the case of the rental swap, the vacationer will most likely have to rent a car during their stay but might not have to do so when staying in a hotel. The need for a car, whether or not the kitchen in a rental swap will be utilized to cook meals and other factors should be considered in determining whether a rental swap or hotel stay is more financially logical.

A Rental Swap is More Comfortable than a Hotel

In most cases a rental swap usually results in a more comfortable stay than a visit to a hotel. Of course there will always be situations in which the quality and even the size of the hotel may be superior to the conditions of the rental shop but for the most part, vacationers usually feel more comfortable in a rental swap situation. Staying in a home typically provides the vacationer with more privacy as well as the ability to spread out a little more. This can be very beneficial for keeping the peace especially for large families who may quickly feel overcrowded in a hotel situation.

There are Risks to a Rental Swap

While a rental swap may certainly seem appealing, there are some inherent risks to this type of lodging situation. First of all the possibility of the rental property not being exactly as described is a very real risk. Homeowners may exaggerate the appeal of their property either intentionally or unintentionally. Regardless of the intent of the homeowner, the vacationer may still find themselves in a situation where they are disappointed with the accommodations. This may be because the house is not as large or well appointed as described or because the house is older and less well maintained than depicted.

Another risk to a rental shop is the possibility of the other homeowner not noting the correct dates. Although this is also a possibility with a hotel, it can be more troubling when the vacationer was counting on the rental swap for their accommodations during the stay. While a hotel might make every effort to accommodate the hotel guests when there is a mistake, homeowners in a rental swap may not have the available resources to find an alternate place for the vacationers to stay.

One final risk which exists in a rental swap, is potential damage to your own property when you allow others to use the property. Homeowners can work to minimize the trouble in these situations by screening those who they are considering for a rental swap carefully. Additionally, homeowners can take security measures by alerting the police as well as neighbors that a stranger will be staying in the home. This will help everyone to be more vigilant and aware of the potential for problems. ]]> Uncategorized http://www.apartment-rental-guide.com/apartment_guide/57180914.shtml http://www.apartment-rental-guide.com/apartment_guide/57180914.shtml Apartment-Rental-Guide.com Mon, 28 Apr 2008 05:56:06 -0400 Read Your Contract Carefully Considering a Roommate?

Those who are considering the possibility of a roommate may mistakenly believe this is possible because they are living alone and have two bedrooms and two bedrooms. These uninformed renters may see an opportunity to share their rent with another. However, some rental agreements strictly prohibit renters from soliciting their own roommates and allowing an additional person to move into the apartment after the lease is already signed. Renters who violate this agreement may face harsh penalties. These penalties may even include eviction.

Renters who want to have the option of a roommate should ideally make this decision before the contract is signed. This will enable the homeowner to put provisions into the contract to allow for the renter to add an additional resident at any time. The leasing agent may still require final approval of your roommate but this approval process will likely be dependent on the results of a background check as well as a check of the potential roommate's finances.

Want to Adopt a Pet?

Renters who wish to adopt a pet in the near future should also familiarize themselves with the rental agreement. This is important because restrictions on the types, size and specific breed of pets apply not only when the renter moves in but throughout the terms of his rental agreement. This means a renter who has signed contractual documents stating they do not own any of the prohibited pets such as dogs or cats are not free to purchase or adopt additional pets during the course of the rental agreement. Therefore, renters who do not have pets but plan to adopt or purchase pets in the near future should read the contract documents as if they are already a pet owner and decide whether or not to sign based on the statements within the policy.

Plan on Having Visitors Regularly?

Even renters who have regular overnight guests should familiarize themselves with their rental agreement before signing the document. This is important because frequent guests may actually be considered residents in some situations. This will likely depend on the specific rental agreement but it is not entirely uncommon for leasing agents to specify that visitors who spend a specific number of nights on the property per month are considered to be residents of the apartment. This is important because the rental agreement may clearly identify how many people may reside in the apartment at any one time.

Visitors who are staying at the apartment too often may put the resident at risk of being accused of having additional persons living in the apartment. In some situations this might be considered cause for eviction. For this reason, the renter should be sure he is familiar with the terms of the agreement before allowing others to spend the night in the apartment on a regular basis. ]]> Uncategorized http://www.apartment-rental-guide.com/apartment_guide/57180883.shtml http://www.apartment-rental-guide.com/apartment_guide/57180883.shtml Apartment-Rental-Guide.com Mon, 28 Apr 2008 05:55:35 -0400 How Much Apartment Can You Afford? Consider All of Your Expenses

When deciding how much apartment they can afford, renters should carefully consider all of their monthly expenses in relation to their monthly income. Expenses may include, but are not limited to, utilities such as gas, water and electric, telephone, cell phone, Internet services, cable television, car insurance, renter's insurance, gas for car, cost of commuting to work, groceries and other incidental charges. Subtracting these costs from the monthly income will give the renter a good idea of how much money they can afford to spend on rent each month. Renters might also consider subtracting an additional amount out of their monthly income to give them the opportunity to save some money each month.

Expenses to be considered should also include expenses for entertainment purposes such as dining in restaurants, going to movie theaters or cultural events. Even movie rentals should be considered in this category. Considering these expenses is necessary because otherwise the renter may not allot a portion of their budget for such purposes and may find themselves unable to participate in some previously enjoyed leisure activities.

Is There Room for Improvement?

When examining the monthly budget, renter should take the opportunity to determine whether or not there is room for improvement in their current financial situation. For example a renter may find they are able to minimize their monthly bills by obtaining their car insurance and renter's insurance from the same insurance carrier. The carrier may be willing to offer a discount to a customer who utilizes their services for more than one type of insurance. Likewise there may be the opportunity to minimize expenses by bundling services such as telephone, Internet and possibly even cable television.

Also, consider entertainment expenses as an opportunity for financial improvement. If a renter currently eats out in restaurants for dinner on both Friday and Saturday of every week, they could consider limiting these dining experiences to only one night a week or even only one night every other week. This can result in a significant cost savings which may enable the renter to afford a more expensive apartment.

Other areas where renters can sometimes cut expenses are on cell phone bills and cable television bills. Examine your cell phone bill carefully. If you are not using all of your minutes each month, it might be worthwhile to switch to a plan with fewer minutes. This would lower your monthly bill without causing you to make any sacrifices. One area where sacrificing might contribute to more monthly cash flow is with cable television. Renters who pay higher fees for premium channels can consider eliminating these channels. All of these small changes to monthly spending can contribute to the renter being able to afford a more expensive apartment which may be larger or in a better location than the apartment they would be able to afford without making changes.

Is There a Need for Improvement?

Although trimming superfluous expenses is always a good financial strategy, renters should determine if this is necessary in terms of their rental situation before making drastic changes. Once a renter has established the amount of money they can afford to spend in rent, they can start to look for available apartments in that price range. If the renter is happy with the choices available to them at this time, there may not be a need to make financial adjustments at this time. However, if the renter is not happy with the options available, financial changes and stricter budgeting are warranted. ]]> Uncategorized http://www.apartment-rental-guide.com/apartment_guide/57180842.shtml http://www.apartment-rental-guide.com/apartment_guide/57180842.shtml Apartment-Rental-Guide.com Mon, 28 Apr 2008 05:54:54 -0400 Getting Your Security Deposit Back Did You Do Any Major Damage?

Certainly doing major damage to the apartment such as putting holes in the walls, breaking appliances or tearing up the flooring may warrant the security deposit being kept but even in these cases the leasing agent must justify these costs. In other words the leasing agent cannot use one damaged item to justify keeping the whole security deposit. Rather the leasing agent is obliged to determine a cost to repair the item. If this estimate is large enough to justify not returning the security deposit the renter should be informed of the estimated cost of repairing the apartment.

Is Your Apartment Clean Enough?

All apartments should be cleaned thoroughly before the tenant vacates the property. This should include extensive cleaning of all rooms of the apartment including the bedrooms, bathrooms and any common areas. A cleaning should also include cleaning of all of the blinds in the apartment. Blinds can be rather difficult to clean and many leasing agents charge approximately $10 per blind if they deem there is a need to clean these items. This can add up rather quickly if there are a number of windows in the apartment.

Many leasing agents also perform a number of standard cleaning functions when any resident vacates the property. This may include items such as cleaning out the refrigerator, shampooing the carpet or repainting the walls. When these items are required, there is typically a fee associated with each item. In many cases, adding up these required fees results in a number which is likely already approaching the sum of the security deposit. Additionally, leasing agents often only allow for one hour of cleaning services to prepare an apartment for the next residents. This is rarely enough time to complete the work and therefore renters wind up being charged an additional fee at an hourly rate.

Have You Read Your Contract Documents?

Renters who want to have the greatest chance of having a large portion of their security deposit refunded to them should be very familiar with their contract documents. This is important while living in the apartment as well as while getting ready to vacate the apartment. It is important to be familiar with the contract terms while living in the apartment because it can prevent the renter from making decorating choices which are explicitly prohibited by the rental agreement. These types of decisions can be costly in the long run because they may result in the renter being assessed for perceived damages by the leasing agent.

Renters should also carefully review the contract documents as they are preparing to vacate the property. This is important because it may help the renter to clean and make repairs to the apartment in accordance to guidelines set forth by the leasing agent. Doing this will make it much more likely the renter will not be assessed exorbitant fees at the conclusion of the rental agreement. ]]> Uncategorized http://www.apartment-rental-guide.com/apartment_guide/57180771.shtml http://www.apartment-rental-guide.com/apartment_guide/57180771.shtml Apartment-Rental-Guide.com Mon, 28 Apr 2008 05:53:43 -0400