5 Reasons Apartments in the Same Building Vary in Price Range

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5 Reasons Apartments in the Same Building Vary in Price Range

Staff Writer · Mar 23, 2010

Apartments in the same building can vary in price range, and the reasons depend on the market, your landlord and the apartment you want to rent. The difference in rent can work to your advantage, but sometimes you’ll find yourself paying much more than your neighbors. Here are 5 reasons apartments in the same building vary in price range:

1 – Number of Bedrooms

The price on a one bedroom apartment will be cheaper than a three bedroom apartment in the same building. Why should someone with less space pay the same in rent as someone with an apartment that has more square feet? Studio or efficiency will cost even less. If you’re looking to save money on rent, find an apartment with the least amount of bedrooms that can meet the needs of everyone living with you. That might mean foregoing an extra bedroom to have as a playroom or home office.

2 – Number of Adults

Some landlords charge higher rent for tenants with roommates. You’ll be asked how many adults will reside in the apartment. If the other adult renting is not a spouse, you might have to pay extra rent, and more roommates will cost even more. Another apartment in the same building will have a lower price range if the tenant doesn’t have a roommate. This concerns people who don’t think it’s fair to charge more for the same sized living space. However, it’s legal and common for landlords to do business this way.

3 – Updated Appliances

An apartment building that’s not newly built often has a mix of older and remodeled apartments. Part of the updates will include newer appliances that are not available or brand new, unlike the ones in some of the other apartments. This affects the price range. For example, tenants are willing to pay for more rent when there’s a washer and dryer in an apartment. Some tenants who do a lot of cooking may pay higher rent for energy efficient stoves or refrigerators. At the same time, you might pay lower for the same apartment that doesn’t offer these same appliances.

4 – Patio

A landlord can charge a higher price range for an apartment with a patio, than for an apartment that doesn’t have one. Tenants can garden, cook on, entertain or relax on a patio, and that increases the value of an apartment. Another apartment in the same building with no patio, is not as valuable. There won’t be as much of demand for those apartments.

5 – Pet Rent

Landlords may ask for pet rent, if you want to house a pet. This is not the same as a pet security deposit. It’s additional rent on top of what you have to pay for yourself. Tenants without pets don’t have to pay it, which means the price range for apartments in the same building will vary.

The best thing you can do about the difference in price range is negotiate with your landlord for a reduction in rent asked for. The other option is to find an apartment somewhere else.

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