March 2, 2018

Homes and Apartments for rentals by Owner

As mentioned earlier, there is a greater market for furnished apartments through private owners or renters. Most of the renters will be seeking to secure a sublease, while owners have a room in or off of their personal residence, such as a fully furnished basement apartment or small “in-law” rooms away from the main part of the house. To add to the value, basic and additional utilities - for example, internet and cable - may be included and constitute part of the deal in terms of the monthly cost compared to living situations where you would have to pay for these costs separately. This can save renters anywhere between $50-100 per month, depending on the utility types.

Furnished apartments or rooms in houses are not necessarily more expensive than unfurnished units. A furnished unit's monthly rent will vary depending on its size, location, and, additionally, the particular the living situation, including whether or not you will you be sharing common living spaces in a house with roommates. Upon move in, many private owners will also require a security deposit upon move in, usually the equivalent of half to a full month’s rent. On the other hand, some apartment buildings that offer unfurnished apartments only require a percentage of the rent to cover any potential anticipated damage.

Many apartment rental companies offer corporate housing and extended stay units that are furnished. These typically cater towards the young professional demographic that is required to travel or stay in cities near their workplace for extended periods of time, but will not be their permanent home. These are commonly higher-end accommodations with the standard comfort of apartment features as well as amenities typically associated with a luxury complex or hotel. Often, these furnished apartments are called suites and will be much more expensive options than finding a sublet or a private owner. The target market for such units aims to cater to those with higher yearly incomes.