Leasing in a condo building can have many benefits over traditional rental properties. Here is a list of some of these benefits for you to consider the next time you’re looking for a place to lease or rent:
1. Better prices.
Overall, renting condo units will give you more for your bang for your buck than renting in traditional apartment buildings. Condo buildings also come in all shapes and sizes, from apartment-style, to lofts, to town homes, generally offering more variety than rental properties.
2. Cleaner and better maintained building.
The fact that the majority of occupants are owners means that they have a stake in the property and are more likely to report issues (even minor ones) and stay on top of necessary maintenance.
3. Older, quieter, more professional neighbors.
Obviously, this is a generalization, but condo owners tend to be older and more established than renters, which means you’ll likely have less noise and partying issues.
4. Timeliness of Repairs.
Most of the time (and depending on the quality of the property management company) repairs will happen quickly because the manager is used to the demands of owners.
Of course, leasing in a condo building can also come with a certain level of uncertainty, because the owner can decide to sell the condo and not renew your lease. However, on the whole, condo buildings offer renters a lot of value, and are a great alternative to rental buildings.