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Archive for the ‘Chicago condos for rent’ Category
Tuesday, September 1st, 2009
Condo rentals are a means to many different types of ends. Condo rentals can help you to find the perfect place for you no matter what your motivation might be, from a place to call home until you can purchase or possibly for that much needed vacation residence.
Condo rentals in Chicago for your vacation are open to everyone, no matter your age, background, or lifestyle. The jazz clubs in which Chicago is well known for will delight music lovers. If the national pastime is more to your liking, Chicago offers two major league teams each in a different part of the city. Everyone in the family will enjoy the many architectural and historical landmarks that Chicago is known for from the Sears Tower to Soldier Field. Other sights to see are the many museums that are home to Chicago such as, Shedd Aquarium, Field Museum, Museum of Science and Industry and the Kohl’s Children’s Museum known for it’s hands on learning laboratory. But that’s not all for the kids! The attraction-filled Navy Pier and Lincoln Park zoo will make your vacation one that the kids will remember for a long time. A relatively new addition to Chicago will excite the kids beyond belief with a trip to Millenium Park and “the bean” where reflections of the city makes incredible photos to take home to their friends. Last but not least is Lake Michigan which is always fun when it is sunny and warm out. If this doesn’t sound appealing to you yet then perhaps you are wondering about how affordable condo rentals can be. Don’t worry, you can definitely find cheap accommodations whether it is a weekly rental or one night accommodations.
What if you are not looking for a vacation rental? Condo rentals are also an excellent source to find a place to live. You may just need a place to rent until you decide to buy or possibly enter into a rent to own agreement which is becoming more and more popular in today’s real estate market. Either way finding a condo in Chicago is just a click away but there are several things you show know.
- All rental agreements are not alike – a lease us for a definite period of time, generally one year. A month to month rental agreement is not for a set period and continues until you decide to move or the owner asks you to leave.
- Rental agreements do not have to be in writing, they can oral. However, a lease for more than a year generally must in writing.
- You have rights! The law says that your apartment must be livable. You must have hot and cold running water, heat, and electrical lighting in good working order.
Finding a condo to rent or buy can be a daunting task but doing your homework and finding the right real estate agent to help will pay off many times over.
Tags: Chicago condo company, Chicago Condos, Chicago Real Estate, condos in Chicago, Find a Condo, rent a condo, Rent to Own Condos
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Tuesday, August 18th, 2009
Condo rentals are a means to many different types of ends. Condo rentals can help you to find the perfect place for you no matter what your motivation might be, from a place to call home until you can purchase or possibly for that much needed vacation residence.
Condo rentals in Chicago for your vacation are open to everyone, no matter your age, background, or lifestyle. The jazz clubs in which Chicago is well known for will delight music lovers. If the national pastime is more to your liking, Chicago offers two major league teams each in a different part of the city. Everyone in the family will enjoy the many architectural and historical landmarks that Chicago is known for from the Sears Tower to Soldier Field. Other sights to see are the many museums that are home to Chicago such as, Shedd Aquarium, Field Museum, Museum of Science and Industry and the Kohl’s Children’s Museum known for it’s hands on learning laboratory. But that’s not all for the kids! The attraction-filled Navy Pier and Lincoln Park zoo will make your vacation one that the kids will remember for a long time. A relatively new addition to Chicago will excite the kids beyond belief with a trip to Millenium Park and “the bean” where reflections of the city makes incredible photos to take home to their friends. Last but not least is Lake Michigan which is always fun when it is sunny and warm out. If this doesn’t sound appealing to you yet then perhaps you are wondering about how affordable condo rentals can be. Don’t worry, you can definitely find cheap accommodations whether it is a weekly rental or one night accommodations.
What if you are not looking for a vacation rental? Condo rentals are also an excellent source to find a place to live. You may just need a place to rent until you decide to buy or possibly enter into a rent to own agreement which is becoming more and more popular in today’s real estate market. Either way finding a condo in Chicago is just a click away but there are several things you show know.
- All rental agreements are not alike – a lease us for a definite period of time, generally one year. A month to month rental agreement is not for a set period and continues until you decide to move or the owner asks you to leave.
- Rental agreements do not have to be in writing, they can oral. However, a lease for more than a year generally must in writing.
- You have rights! The law says that your apartment must be livable. You must have hot and cold running water, heat, and electrical lighting in good working order.
Finding a condo to rent or buy can be a daunting task but doing your homework and finding the right real estate agent to help will pay off many times over.
Tags: Chicago condo company, Chicago Condos, Chicago Real Estate, rent a condo, Rent to Own Condos
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Tuesday, June 30th, 2009
The idea of moving to an urban area and tapping into the excitement and cultural opportunities of a big city is taking hold for many Americans. Chicago condos for rent are exactly what many potential urban dwellers are looking and one classic style that is available today is the loft. Are you one of those people who like wide open floor plans in which there are no preset rooms or immovable walls? Do you prefer floor to ceiling windows revealing a panoramic view where high ceilings, worn wooden floors exposed building elements such as, brick, beams, duct work are the norm? Then loft living is what you are looking for and Chicago condos for rent is where it’s at! A classic loft style condo is one large space with average living areas of 1000 to 2000 square feet with cavernous spaces beyond the reach of the average resident. It is these aspects which lure many condo buyers to the city-life, industrial chic lifestyle. Most classic loft apartments or condos were converted from old manufacturing or warehouse buildings and more contractors are meeting this growing demand by creating these buildings from the ground up. The new reproductions are referred to as “hybrids”. Many loft apartments or condos come in different shapes and attributes, with or without fireplaces or other amenities. Secured video entry, in house fitness centers, and pools are just a few of the luxury items which can come with your loft or condo. Today urban dwellers are finding loft living offer the location and opportunities of city life with more space than the average condo.
One of the things you may want to think about when looking for Chicago condos for rent is a rent to own program. What is rent to own and what kind of agreements are needed? Rent to own is in its simplest form is renting a home or condo with the opportunity to purchase at a later date. The lease to own or lease-option agreement is both a lease that allows you to occupy the home and an option that allows you to purchase the condo in the future at an agreed upon price. The typical agreement may offer a part of the rent to go toward down-payment or closing costs. For example, $200 a month may be applied toward the down-payment where at the end of the year $2400 has been accumulated towards the purchase.
When you are looking for a Chicago condo for rent finding the right condo or apartment can be time consuming. The best advice I can give is to go online or check the Yellow Pages for rental and real estate agencies.
Tags: Chicago Condos, Chicago condos for sale, Chicago Realtors, rent a condo, Rent to Own Condos
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Thursday, June 11th, 2009
Why rent a condo? Condo rentals are everywhere nowadays because people are having a hard time selling condos. The question you have to ask yourself is why rent a condo when you can buy a condo? Condos are cheaper than ever and can greatly appreciate if you pick them up at the right price. The prices have dipped so significantly that I’ve seen deals literally at thirty and forty cents on the dollar.
Renting a condo starts with the inspection. Make sure the condo meets all your needs. It’s not only the space between the four walls that’s important, but the environment itself. I always like going to the condo complex at several different times of the day and different times of the week. Visit it at night on a Wednesday and then during the day on a Saturday. There’s always a different crowd and you’ll begin to see the people and soon you’ll know if the complex is right for you.
Renting a condo in Chicago? Renting a condo in New York? You’ll need a condo specialist. Make sure you choose a Realtor that knows the area. They always have the best deals. Tap off of their experience. They get paid by the landlord, so their services a re free to you. There are specific rental real estate agents that do nothing but condo rentals. Once you’ve found the condo you want to rent, make sure you really read every line of the lease. My recommendation is to get an attorney for the condo lease, but if you’re unable to afford one, please take the time to read every line of it. Condo leases are usually pretty standard, but many condo landlords throw in amendments. Watch for these.
Once you’ve rented a condo, you’ll find that your new home needs upgrading. There are usually several maintenance guys and rehabbers that service several of the complexes throughout the condominium complex. Ask the manager of the condo association for names and numbers. Ask for references as well. See if your neighbors used them and what they think about things.
Renting a condo can be awesome if you use the right people and take the time to carefully make your selections. It’s all about focus. Don’t take this lightly because you’ll be in your condo a long time. Take the time now so you won’t suffer later by not choosing the right condominium to rent or choosing the right condo complex to live in.
Tags: condo, condo rentals, condos, rent a condo, renting condos
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Wednesday, May 27th, 2009
Are you looking for more living space? Are you tired of paying high monthly rents on small apartment spaces? If so, making the decision to rent a condo will vastly improve your individual circumstances. Not everyone wants the responsibilities of property ownership. Many of these people often have jobs that require that they move frequently and they do not want to deal with the hassle of constantly buying and selling property. Unfortunately though, these people have a limited amount of options when renting apartments, but what many of them do not know is that for about the same monthly payment, they can be renting a condo.
If you decide to rent a condo, you will obviously appreciate the extra space. Many condos have living rooms, dining rooms, larger bathrooms, and greater storage areas. You will also find that condo owners are more apt to make improvements and upgrades to their property than any apartment owner. Many of these condos have great upgrades like stainless steel appliances, granite countertops, and hard wood floors. Since condos are considered investments by their owners, they are much more likely to make improvements upon them. You will feel much more comfortable inviting guests over to your residence and they will have much more space to enjoy themselves.
The buildings themselves are also much nicer and better maintained. People have many options to choose from when buying a condo and building owners want to make any improvements that they can in order to attract buyers. Many condo complexes have pools and tennis courts on their grounds. They will also build walking paths and keep up with their landscaping. Not only can you enjoy a better indoor environment by choosing to rent a condo, but you will also be impressed by the better care that is provided to the outside of the building and grounds as well. Many condos also have great balconies or outdoor spaces to offer. There are numerous benefits associated with condos that aren’t available to apartment dwellers.
If you do not want the responsibilities of owning property, you do not have to live inside of a small apartment. There are a number of rental options that are available in many cities across the country. You can find a great condo to rent and enjoy the benefits of living in a condo while not having any of the extra stresses associated with property ownership.
Tags: Real Estate Companies in Chicago, rent a condo, Working with a Realtor
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Monday, May 18th, 2009
Are you looking for Chicago condos to rent? Where do you go, where do you turn to? And why condos? Why not Chicago apartments? The Chicago area has tons of condos available for rent with very little trouble on your end on finding them. One of the best methods is to use an Multiple Listing Search (MLS). Most of these searches are on real estate company websites.
Chicago Condos can be so much better to rent than Chicago apartments but it takes some time on your end to find the best deals. To start, Chicago condo rentals may have an option to rent the condo and then eventually own it. This is called a rent-to-own program. Many condos can be rented with an agreement in the beginning of the lease that would allow you use a portion of your rent that would go toward the down payment. Imagine $200 off of your $1,000 rent each month being socked away for your use to actually buy the Chicago condo? That means $2,400 after one year.
Many condos in Chicago can be purchased with a mere 5% down. 5% of $200,000 is $10,000. You can see that after a few years, you can possibly have more than half the down payment for the purchase if the contracts for lease-purchase are set up the right way.
What next? It would be best to check into financing the Chicago condominium. Financing is really the key in this whole real estate game. If you want to own but you don’t have the whole amount in cash, you need to bring in a lender. A bank or mortgage company that finances condo loans will start by asking you if you are employed and what money you make on an annual basis. They want to make sure you’ll pay them back for the condo loan. It won’t take the bank more than a day or two to let you know what situation you’re in financially. There are so many people out there that really don’t understand the loan process that when they eventually go through it, many are surprised to see that they actually can qualify to buy a condominium.
Why rent when you can buy a condo? Buying means control. It means ownership of the American Dream. You can never get kicked out of your own condo as long as you pay your mortgage. When a lease ends, you can be booted out anytime. Owning controls your destiny.
Tags: Chicago condos for rent, condo, condo rentals, condos, rent a condo, renting condos in chicago
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Friday, May 15th, 2009
Chicago condos for rent can be found by going to the website OwnACondo.com. Click on “rent a condo†on the tool bar and you’ll be abler to access all the condos for rent in the Chicago area.
The nice thing about renting a condo in Chicago versus the Chicago apartment is the condo complexes are usually more kept up. This isn’t always the case, but there’s a higher percentage on condominium complexes in nicer condition than apartment communities. Why is this?
The apartment community is owned normally by one entity called the landlord. He or she owns the entire property. If they do not want to improve their property, they really don’t have to. They can run the property to that edge where they are still legally conforming to all the guidelines of Illinois housing laws but at the same time is close enough to have the facility look like a garbage dump.Â
Chicago condos for rent in condominium complexes should be much different. In condo complexes there is a condo board made up of five people. There’s the president, secretary, treasurer and two members that own condos in the complex. They oversee the entire management process. This is much different than one owner. These five people are put in place to represent the entire condo complex. Their sole role is to help the condo complex run efficiently.
Because you have a staff of five this isn’t the only ingredient that helps rental condos flourish over apartment rentals in Chicago, it’s also the monthly association fees. There’s a budget in place to constantly improve the condo complex with everyone’s participation. Each condo owner has to pay monthly fees to continue living there. This helps with not only the overall costs for upkeep, but improvements as well. Back to the apartment side of the game, there are no reserves for this. It’s all out of the landlord’s pocket. If he doesn’t have money, it doesn’t get fixed.
Chicago condos for rent can vary in price and size. Call your local OwnACondo.com real estate agent for more information on condo rentals in your area.
Tags: chicago apats for rent, Chicago condos for rent, chicago rentals, condos, condos for rent, rental condos in Chicago
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Thursday, May 7th, 2009
The idea of moving to an urban area and tapping into the excitement and cultural opportunities of a big city is taking hold for many Americans. Chicago condos for rent are exactly what many potential urban dwellers are looking and one classic style that is available today is the loft. Are you one of those people who like wide open floor plans in which there are no preset rooms or immovable walls? Do you prefer floor to ceiling windows revealing a panoramic view where high ceilings, worn wooden floors exposed building elements such as, brick, beams, duct work are the norm? Then loft living is what you are looking for and Chicago condos for rent is where it’s at! A classic loft style condo is one large space with average living areas of 1000 to 2000 square feet with cavernous spaces beyond the reach of the average resident. It is these aspects which lure many condo renters to the city-life, industrial chic lifestyle. Most classic loft apartments or condos were converted from old manufacturing or warehouse buildings and more contractors are meeting this growing demand by creating these buildings from the ground up. The new reproductions are referred to as “hybrids”. Many loft apartments or condos come in different shapes and attributes, with or without fireplaces or other amenities. Secured video entry, in house fitness centers, and pools are just a few of the luxury items which can come with your loft or condo. Today urban dwellers are finding loft living offer the location and opportunities of city life with more space than the average condo.
Loft life offers many unique joys.
- Open Spaces – the primary benefit is large open spaces that allow you to live how you want, rather than having a defined permanent floor plan of walls, doorways and rooms.
- Define your areas – floor plans can be fluid and ever changing. Temporary partitions, hanging curtains, or even changes in floor covering can define spaces.
- Eclectic style – loft living offers the opportunity for eclectic design and decorating. The mixture of old and new in a loft such as, modern furniture sitting on old hardwood floors offers much of the appeal for many urban dwellers.
Chicago condos for rent are located throughout the 77 communities of Chicago and now are branching out to many of the suburban areas. Many are former commercial and industrial building that have been converted and now used for residential purposes. Loft living generally feature open living floor plans, high ceilings, expansive spaces, exposed ductwork, and a general tendency toward informal living.
Tags: Chicago condo company, Chicago Condos, Chicago condos for rent, condos in Chicago, rent a condo, Rent to Own Condos
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Monday, April 20th, 2009
How can you rent a condo? Are condos actually for rent just like apartments? They sure are and there may be several advantages to renting a Chicago condo opposed to a Chicago apartment.
Many times condo complexes have different upgrades from apartment complexes. Let’s think of this from a common sense standpoint. Condos are usually owned. People purchase the condo to live in it, hopefully it appreciates in value and then it’s sold. The owners of the condo are going to take care of the unit and the grounds of the condo complex differently than apartment renters that really do not have a vested interest in the apartment complex. This means that usually the grounds and the unit itself are better kept and nicer than an apartment complex. That’s number one.
The second reason that you may want to rent a condo versus renting a Chicago apartment is the amount of money that is usually put to upgrading the complex is usually quite a bit higher in a condominium complex versus an apartment complex. Let’s break this down. An apartment building owner has only so much money from the cash flow from an apartment building investment. If the apartment building is 100% occupied, they may be making enough money to do a few upgrades each year. If the complex is 90% or lower, chances are that the landlord is actually at a break even or may even be losing money on a monthly basis. There are several examples of this all over the Chicago area. Most apartment complexes are kept at a level just above mediocre to get apartment tenants, but rarely do you see a class A apartment building that is completely renovated and updated. This is naturally based on the apartment building investment does have loads of cash streaming from it to allow extra money for upgrades.
But when you rent a condo from a condominium complex, things are usually different.  Remember, these units were sold to someone. That means they are taken care of differently. As in a sale, most people try to get the product ready for a sale by renovating it and cleaning it. Condo sellers will paint and re-carpet. They’ll make sure the hallways and grounds are clean. They’ll make sure the association is on that leaky gutter so they won’t be embarrassed when they are walking the buyer through. All of these factors add up.Â
In the end, it’s almost inevitable that you find renting a condo is a better choice than renting an apartment. There are always exceptions to the rule, but it’s a rare situation to find this philosophy flip flopped.
Tags: Chicago apartment rentals, Chicago condos for rent, rent a condo, rent an apartment in Chicago
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Thursday, April 16th, 2009
Getting excellent condo rental management is critical in the overall success of your condo investment. Once you have this in place, everything can go smooth sailing, but getting it in place is the key.
Condo rental management starts with the interview process. You must interview and establish the company that will running your condo investment. You’ve just purchased your condo investment, now you have to rent it out. Start by asking your friends and business associates who they might recommend. There are all types of management companies but make sure you’re focused on condo management specialists. Property management companies have certain specialties. There are those that manage office and apartment complexes, focusing more on the commercial side of things. Check around and do your homework and you’ll be led to the condo specialist in your area.
Once the condo rental management company is in place, you’ll expect to see an update from the company once a month referencing your investment. They will give you the accounting details and tell you how things are going. If ever this is a problem with any of the information on the monthly reports, I’ve found that a quick phone call should clear things up right away. Make sure that you read these monthly reports and be careful on all the details. This is your investment and you should treat it with the focus it deserves.
What if the condo cannot be rented out? Normally a condo should be rented out as long as it is priced right. It’s important to do a rental study of the area before putting the unit on the market for rent. Your condo management company will be able to help you with this as well. If you think you’re priced right and the unit is still not renting, you may have a situation that it has nothing to do with your unit, but more the complex. Is the condo complex always clean while you’re showing the unit? Are there repairs that need to be done to the exterior that haven’t been? Focus on all the aspects that would be important to you if you were renting a condo and see how your condo matches up.
Condo investments have made people a ton of money in the past. By adding the right management piece to the investment, it can add even more value…or subtract value. Choosing the right condo rental management team is one of the most important choices there is. You took time to choose the right condominium. Now take time to choose the right condo management team as well.
Tags: condo rental in Chicago, Condo rental management, rent a condo, rental condos
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