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Jeannette Batsikas' Blog

By Jeannette Batsikas | Broker in Brooklyn, NY

Renting in an Apartment Building compared to renting in a private house

Renting in an apartment building has its advantages: for one you get a lease that is automatically renewed every year with or without your consent (of course landlords will send you a renewal before your lease is up to have you sign) in less you decide to move. An increase looks something like 4% a year about give or take. Living in a building you have the security of never being asked to leave unless you stopped paying rent resulting in an eviction. If the building were to go into foreclosure, or the landlord would want to sell the building you could never be asked to move.

Renting in a private home has its perks as well. The feel of living in a private home of a 2, 3, 4, 5 family feels like family then just being lost in a big building with lots of tenants. The increase all depends on the landlord most times the landlords don't increase the rent for a few years or more which could be great. The only down fall is the secruity of living in a private home without a lease the landlord can ask you to leave anytime. E.g The landlord's daughter gets pregnant and needs a place to stay or getting married or selling a house you kinda get the idea. This does happen but the percentage is small more like 1% of private homes will ask for the apartment back.

I hope that helped if you have any questions feel free to write me and I'll answer any of your real estate questions.

Jeannette Batsikas

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