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Three Things to Consider When Looking at Apartment Rentals

8th+Hope Living Room

Whether you’re relocating for a new job, or because your current lease is up, it’s not easy to decide where to move to. If you’re looking for an apartment rental, there are many things to consider, especially if you plan to live in the apartment for a long period. The top five things to be aware of are the size of the apartment, ease of access, residency, neighborhood and the lease details. If you find a place that rates satisfactorily in these areas, you have found a good fit for you.

Apartment Size & Amenities

You must take a serious look at your lifestyle to determine the amount of space that you will require to live comfortably. It may be important for you to have more than one bedroom and multiple bathrooms. Perhaps a single bedroom and a larger kitchen and living room are your cup of tea. Narrow your search to only those apartments with the number of bedrooms to eliminate those that would never work for you. Secondary to the size of the apartment are the amenities such as a balcony, patio, common areas for residents or features that you would like to have, but could live without.

Ease Of Access

Many apartments in larger cities are in high-rise buildings. That means either having to climb several flights of stairs or taking an elevator up and down. If you have any mobility issues, it’s especially important that there is easy access both in and out of the building. In addition to building access, it’s imperative that there is adequate access to common areas. Finally, the apartment building should be located within a comfortable distance for you to travel for work, dining, shopping and entertainment.

The makeup of the residents

The average age of the residents in an apartment building can vary widely. In some areas, you’ll find that there are more families with young children, while in others you’ll see mostly adults. Ask about the age and general makeup of the current residents to determine whether it’s a good fit for you. If you are a quiet professional, it may not bode well for you to move into an apartment building full of children.

Type of neighborhood

Commercial districts offer many opportunities for apartment rentals, but it may not work for every type of person. These areas tend to be very busy during the day with vehicles and people shopping and doing business. Very often these are also the places that are closest to the night life activities that cities offer. Those that prefer a quieter, more residential feel may not find these areas as appealing and should opt for a quieter area. Take the time to walk the neighborhood during the day and evening so you can get a feel for it and to familiarize yourself with the sights and sounds.

Lease Length and Cost

Of course, it’s also important to evaluate the details of the lease agreement for any apartment. In most cases, your lease period will be twelve months, however, it could be longer or shorter. Be very aware of this and understand that you are responsible for the rent payments for that full period of time. You also may be responsible for utilities such as gas, electric, cable and internet. The monthly lease payment and the additional bills should fit comfortably into your monthly budget without upsetting your financial situation. A good rule of thumb to follow is for your housing costs to not exceed 28% of your income.

If you’re ready to relocate and you’re looking for a new apartment, Wood Partners would like to invite you to come and live with us. With beautiful locations across the country, we have apartments to suit every taste and lifestyle. Feel free to contact us if you have any questions about any of our unique properties.


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Finding Apartments for Rent for a Carefree Urban Retirement

The Ivy Residences at Health Village - Orlando, FL

The Ivy Residences at Health Village – Orlando, FL

Empty-nesters and retirees today want the flexibility and freedom that comes with renting. Whether married or single, finding apartments for rent for a carefree retirement is an exciting new chapter in your life. Many baby boomers owned homes in the suburbs, but are gravitating to hip, urban areas for the young energy. According to an article by Financial Post, there are many cases when renting in retirement could be the right move. While seniors in the past often retired to age-restricted communities for people 55 years of age and older, many baby boomers prefer a diverse apartment community.

  • Financial savings

With the stock market booming in recent years, it makes sense to let your money work for you while you kick back in an apartment community where property managers take care of your maintenance issues. Being a homeowner comes with a lot of financial responsibilities. Some of the most expensive big-ticket items you need to replace or repair as a home owner include the roof, appliances and air-conditioning.

  • A debt-free lifestyle

According to an article by The Motley Fool, many baby boomers’ homes have become Continue reading


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What to Look for When Hunting for an Apartment

Wood Partners - Alta Warner Signage

If you are in the market for an apartment to rent you may be overwhelmed by all of the options. How do you decide which apartment is right for you? Here are some tips that will help you determine what to look for in your new apartment.

Consider Your Priorities

Is it important for you to be close to your place of employment or would you prefer to be located in a vibrant community a little further from work? Determine if you find it valuable to be near shops and restaurants. Is access to transportation vital? Once you decide which aspects are a priority you will be able to narrow your search significantly.

Take Notes

Once you have limited the number of options you can start visiting apartments. Since it can be easy to get multiple apartments confused when you reflect back later on, take notes during your visits. If possible take pictures as well. When you sit down to think through which apartment is the best match for you it will be helpful to have the notes and/or pictures to refresh your memory.

Understand the Finances 

Before you start looking make sure you know what you can afford to pay each month. In addition, be sure to understand all of the costs of each potential apartment. Find out if utilities are included. Is there a charge for parking? It is important to know what you will need to pay for, beyond the rent, each month to make sure you can afford the apartment.

Investigate the Details

When you attend an open house or take a tour feel free to check all aspects of the apartment. This includes opening closets and running water in the sinks. Look underneath sinks and evaluate and storage spaces. Look inside of appliances that will be included with the apartment. Be sure you have a full understanding of all aspects of place you will be living.

Using these tips you will locate the apartment that is right for you! For additional tips on apartment living and what to look for when hunting for an apartment don’t hesitate to contact us at Wood Partners.


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Apartments For Rent That Appeal to Generation X

House for rentHousing experts say they are seeing a drop in homeownership among members of Generation X. Burned by the Housing Crash and burned out on the long commute of the suburban lifestyle, many people in their mid-30s to mid-40s are searching for luxury apartments in urban areas. Owning a home doesn’t make as much financial sense anymore. And, it doesn’t always fit the modern lifestyle.

According to a recent article by Yahoo Finance, there has been a boom in apartment construction. Meanwhile, single family home construction is down. Housing analysts had attributed the trend to millennials who are slow to become financially independent. However, now the evidence is pointing to middle-aged former home owners as the ones who are gravitating back to the easy, breezy rental lifestyle.

Some Gen-X’ers haven’t been in the market for an apartment since they moved out of a college dorm and into an apartment with bed sheets for curtains. When searching for apartments for rent, they are more sophisticated now. So, what should a Gen-Xer look for in an apartment community?

  • Built-ins, upgrades and Wi-Fi

Many Gen-X’ers are gravitating toward luxury apartments with high-end features such as gourmet kitchens, oversized closets with built-in organizers and crown molding. Having been homeowners, they are used to having granite countertops, ceramic or wood plank floors. Many luxury apartment builders offer upgrades in units including garden tubs and balconies.

  • Resort-style amenities

After spending years mowing a yard and paying for gym memberships, it’s refreshing for many middle-aged people to be able to enjoy the perks of city living as a renter. They can search for apartments for rent that feature a fitness center, dog run, pool and possibly even meditation room or indoor climate-controlled basketball court.

Gen-X’ers are still in the prime when it comes to career. They will be happier if they select an apartment that is convenient to restaurants, entertainment, retail and major highways. For more information about how Wood Partners can help you find the perfect apartment community for your needs at any stage of life, contact us.


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Increasing Acceptance of Apartment Rentals

House for rent

According to a generally-held myth, a “nice home” involves extremely generous square footage as well as an extensive lawn to surround it. Without thinking, most of us would agree.

A moment’s analysis will confirm there will be a tremendous amount of upkeep within this arrangement. Most people who live in such properties today hire help to maintain the residence and the grounds.

In addition, there is often very little interaction between neighbors after the garage door has closed. Residents may live down the street from each for decades and never recognize their neighbors.

While you may not get to know all your neighbors in an apartment rental, you will usually have more social interaction. Most likely you will find a friendly acquaintance at least. You will also be able to rent a place in a better neighborhood than you would be able to buy into.

Times have changed, and continue to do so. A dense population can be much gentler on the environment; residents’ utility bills are lower. A maintenance department takes the personal financial crisis out of a failed air conditioning or plumbing system. Specific green spaces can be enjoyed by many (who are also relieved of the chore of mowing).

Apartment living does not have to mean “temporary.” Apartment living is a necessity in densely populated areas and it is becoming more popular everywhere.

Once, the purchase and care of the home was a paramount budget item. Today you might rather lease a BMW or travel or just plain save money. Apartment living keeps one more financially flexible to participate in a world of options beyond the 30-year mortgage. Contact us for detailed information.


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Feng Shui Tips for Finding Apartments for Rent

House for rentWhile sifting through the many apartments for rent, it’s important to find ones that meet certain feng-shui criteria. Feng shui, known as the Chinese art of placement, isn’t a hocus-pocus decorating philosophy as much as a practical guide for improving the organization, flow and mood of residents and guests.

Whether you are on an apartment hunt or already settled in an apartment, there are ways to improve safety and lighting in the home as well as discover the best use of space.

  • Creating an inviting yet safe entryway

Personal safety is a big factor of feng shui, which encourages people to arrange furniture so you never have your back to a door. In terms of the entry-way to an apartment building, it’s important that it be well lit. You can make the entryway to your individual apartment unit inviting with a wreath on the door and a welcome mat. Be creative and add your own personal touch.

  • Choosing a higher floor

Although there are advantages for some people to live on a lower apartment level, some apartments for rentfeature balconies with serene views. Avoid a unit that is too close to the stairs or elevator for a quieter existence. If you do pick a unit on the first floor, choose one with a view of water, trees or nature instead of the parking lot. A screened-in porch is always a plus, but if that’s not possible a feng-shui remedy is to bring in plants such as bamboo or a tabletop fountain.

  • Working with the layout

In feng shui, different areas of a home or apartment are best suited for different uses. When through apartments for rent, choose ones that have a lot of flexible spaces or rooms that can be used for different purposes. For example, a bedroom in the South or North area of the home could be used as a home office since South represents fame and reputation and North represents career.

For more information on finding the best apartment to fit your specific needs, contact us.


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Millennials drive demand for apartment rentals in urban areas

iStock_000014814198XSmall

Millennials have been driving the demand for apartment rentals, especially in urban areas. Millennials or members of Generation Y prefer renting over buying so much they are being called “Generation rent.”

According to a recent article by Zillow, home ownership recently hit an 18-year low. Home ownership isn’t the American dream for a lot of Americans.

  • Getting out on their own

Many Millennials lived at home longer because of the Great Recession and high student loan debt. Paying rent on time can boost credit scores, which helps young people when they want to become eventual homeowners. Being able to rent an apartment is a milestone for many people in their 20s and early 30s.

  • Having flexibility to move

Some Millennials prefer to rent because they want the flexibility to move for job or travel opportunities. They just don’t want to be tied down. If they had friends or family who bought during the housing bubble and were underwater on their mortgages, they are understandably skittish about home ownership.

  • Being close to the action

An article by City Lab points to recent studies that show Millennials gravitate to walkable urban areas with good schools, parks and public transportation. Millennials are also marrying later in life and experiencing divorce, which may propel them back to apartment rentals because of the more social atmosphere.

  • Minimizing energy consumption

Living in an apartment with less square footage is a simple way to conserve energy. Apartment dwellers reduce their carbon footprint by living in walkable neighborhoods. Many apartment rentals today are the result of environmentally-sensitive developers that have the “green” customer in mind.

For more information on finding thoughtfully-designed apartment communities, contact us.