How do apartment rental rates at large complexes compare with the rates at similar properties where the owner only owns one or two?

Asked by Dr. Byan, Chicago, IL Thu Apr 18, 2013

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Pete Burke, Agent, Schaumburg, IL
Thu Apr 18, 2013
BEST ANSWER
Because the individual landlord can operate more efficiently, individually owned residential properties within an owner occupied comparable complex will USUALLY be a better value tor the tenant. If you want confirmation of that value proposition, forward your specific property information and I can do the comparison for you!
0 votes
Dr. Byan, Renter, Chicago, IL
Thu Apr 18, 2013
This was super fast and helpful. Thank you Trulia community.
0 votes
Joe Schiller, Agent, Chicago, IL
Thu Apr 18, 2013
I have rented dozens of both.. you pay about 10% more for a managed building..
0 votes
Matt Laricy, Agent, Chicago, IL
Thu Apr 18, 2013
Its all relative to what the people are going for. If its a 2 unit building and one is rented, then its 50%. You can have a 100 units with 25 rented and be at a lower %.
0 votes
David Hanna, Agent, Chicago, IL
Thu Apr 18, 2013
Not much difference if the owners are educated about their market places. A small landlord may be able to be more flexible on tenant choices, and that could, I guess, get them a higher rent, but it will be nominal.
0 votes
Philip Sencer, Agent, Chicago, IL
Thu Apr 18, 2013
Rents are based on the market factors, supply-demand, condition etc. It has noting to do with how large a complex is.
0 votes
Manuel Brown, Agent, Chicago, IL
Thu Apr 18, 2013
Dr. Byan,

Real Estate as we all know is location, location, location. Because it is a landlord market almost all landlords are aware of what they can ask for monthly rent. The only thing that will affect the rental rate are finishes and amenities regardless of complex and individual landlord.
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