What's in a Rental?

Our office lists properties for rent for private owners. Often the potential tenants are confused about how the process works because they are used to renting from an apartment complex. Here are a few things that I tell prospective tenants to help keep it all straight:

Apartment Buildings

• An apartment complex typically charges a lower security deposit. They have a staff of maintenance people, so if a tenant leaves the place a mess they can have it fixed quickly and easily by their own staff.
• Apartment complexes typically own a building with 50 or more units and charge enough in rent that a percentage of occupancy covers their expenses and mortgage. This means they can afford to carry a certain number of vacant units in any given month.

Private Owner

• A private owner often charges 1 month's rent for security deposit. If a tenant leaves the carpets or walls a mess, they have to hire someone to fix it or make the time to fix it themselves.
•  Private owners are responsible for the mortgage, whether they have a tenant or not.

Of course there are a number of other considerations, but these are the key ones that come to mind.

I'm posting this in honor of our Rental listing on Cheyenne Way in Haymarket that goes active in the MLS today. Two levels, 2 bedrooms, 1.5 baths. Fenced yard with deck. Updated kitchen! If you have any questions about Cheyenne Way...please contact us!