How to Rent Luxury Apartments without Overspending

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How to Rent Luxury Apartments without Overspending

Staff Writer · Jan 21, 2010

There are a few things to consider to avoid overspending when looking to rent luxury apartments. It is wise to explore ways to save initially, prior to moving in, as well as savings that can expand throughout the life of the lease. Its important to have a plan of attack before the search even begins. Be a smart, money conscious renter and consider the following when looking into luxury rentals:

Time of Year

The summer months are the most popular time to move so move-in deals seem to pop up everywhere. But this does not mean that this is the best time to get the best deal. Because prices typically start off higher during the summer months, move in deals may not be all that great when comparing with other times of the year. September through December is a great time to search for an apartment because generally the prices are lower than summer months. Then if move in specials are applied, savings are even greater!

To Use or Not to Use a Brokers

It is tempting to use a broker because they take a load of work off of the renter, and for the renter its free! Brokers get paid by the landlord to get people into their empty apartments, so if there is no broker to pay, then the landlord is saving that money. This money that may typically be paid to the broker could be delivered to the renter in the form of waived fees, or even a month of free rent that can sometimes be pro-rated to lower the monthly rental agreement.

Floor Plan

There are different floor plans that can have subtle or extreme effects on the monthly rental cost. Choose a floor plan that meets basic living needs and nothing more. It is easy to get sucked into wanting the largest floor plan with an extra bedroom, an extra bathroom and an attached garage, but these are the things that will get that monthly payment to spike into the “overspending” category. Start by considering the smallest floor plans first, and if that does not meet anticipated living needs, check out the next size up, until a realistic floor plan is suitable. Weigh out the wants with what is really needed and make smart choices when it comes to the floor plan.

Additional Amenities

There are many different types of luxury apartments available and they include great features and amenities to make luxury apartment living appealing. Amenities such as pools, gyms and recreation facilities are usually always included at no extra expense. Additional amenities such as storage, detached garages, and even cleaning or laundry services will cost more in addition to the original rent. These additions may be necessary in some situations, so again, weigh out the wants and needs to make a smart decision.

Think about these things prior to starting the search and decide what is absolutely needed and what is not. When touring apartments, stick to these decisions and don’t let the moment of excitement to allow justifications for altering these previously made decisions. Luxury apartments offer great living arrangements and it is possible to enter this lifestyle without overspending, but it will take smart planning and self control!

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